In Malta the institution was set up in 1598, was known in the British period as the Public Pawn-Brokery, and it is still in operation today as part of the Inland Revenue Department.

The Monte di Pietà was founded on 15 January 1598 under the name Monte di Sant'Anna, when the Portuguese knight Fra Manuel de Couros obtained permission from Grand Master Martin Garzez to donate 2000 scudi so as to set up a fund to suppress usury, which was reportedly practiced by slaves and Jews.

[1] During a demolition of a house now addressed at 1 St Paul Square, to make way for the Cathedral, construction workers had found gold coins in a medieval urn that date back to the Arab period.

[1] On 28 June 1787, Grand Master Emmanuel de Rohan-Polduc consolidated the funds of the Monte di Pietà with those of the Monte della Redenzione degli Schiavi, an institution which had been set up by Alof de Wignacourt in 1607 in order to redeem Christian slaves in Muslim territories.

[1] This name lasted until the early 19th century, when the institution was renamed back to Monte di Pietà following the suppression of slavery.

[8] Following the end of the blockade, during the British protectorate, the institution was reopened by Civil Commissioner Alexander Ball on 10 October 1800.

On 30 July 1721, it was acquired by the Treasury of the Order of St. John, in exchange for a house located across the street which became the new Banca Giuratale.

[1] On 14 August 1749, Grand Master Manuel Pinto da Fonseca gave the building to Giuseppe Cohen, a Jew who had revealed the Conspiracy of the Slaves.