Carlo Farrugia was born in 1960. He was employed at the Central Bank of Malta in 1979 and worked in several different offices within the bank's structure. On the 1 January 2002 he moved to the Malta Financial Services Authority (MFSA) when the latter was entrusted with the responsibility for banking regulation and supervision. In July 2004 Mr Farrugia was entrusted with the challenge of creating the Information Office within the MFSA. He headed the Information Office until his resignation in May 2007. Mr Farrugia moved to the Middlesea Group of Companies and was entrusted with the responsibilities of Company Secretary and Compliance Officer for the Group.
On an academic level he obtained his first degree in General Management, with distinction, from the Maastricht School of Management. In October 2003 he participated in the first postgraduate diploma course organised by the University of Malta in Translation and Interpreting and graduated in November 2005. He underwent a further year of studies and obtained his Masters' degree in Translation and Interpreting from the University of Malta. He attended a seminar for interpreters organised by the DG Interpretation, in Brussels during September and October 2006.
Mr Farrugia compiled the first Dictionary for Financial Services that was published in December 2006. The dictionary contains terminology used in the financial services industry in English and Maltese together with the explanation for each term. In April 2006 he was invited to Luxemburg to give a presentation to the Maltese translators working there. The presentation was sponsored by the European Commission. In July 2007 the new website for financial services terms was launched. This now includes more than 4,000 terms, as compared to 1,600 in the published dictionary, that are used in the financial services industry. In addition to the Maltese and English terminology the website contains the Italian equivalent term.
Mr Farrugia is an executive committee member of the International Olympic Academy Participants Association, in Greece, and has written several articles on Olympic themes. He has given various presentations to National Olympic Academies in other countries and participated as a volunteer during the Olympic Games in Sydney 2000, Athens 2004, Torino 2006, Singapore 2010, London 2012 and Paralympics London 2012. He coached the national female basketball team for several years, from under 14 up to Seniors, and won the gold medal during the Games for the Small States of Europe held in Malta in 2003 amongst other achievements on a local and international level.