Malta Business School (MBS), as it is today, evolved from a concept proposed and promoted by the School’s founder and director Lorenzo Mulè Stagno, who started providing adult training programmes to organisations in 2005 under the company name Allied Consultants Ltd. The following year, the company achieved school recognition status by the Education Authorities. In 2007 the firm was awarded representation of the Henley MBA in Malta following a competitive application process, launching its first Henley MBA intake in May of 2008, and thus reviving the good name of Henley in Malta (after a 2-year period of inactivity). Working with Henley Business School UK became, and still is, a mutually beneficial arrangement. 

In the following 4 years, the School increased its market share in corporate training and public training tenders and in 2012, together with the move to new and bigger premises with classroom facilities, Malta Business School was officially launched. While corporate training opportunities were increasing, the Head of School was keen to introduce accredited courses as part of its portfolio. Therefore, in 2014, MBS launched the Diploma and Extended Diploma in Management, tagged at Level 5 on the Malta Qualifications Framework (MQF) and European Qualifications Framework (EQF).

In 2018, MBS achieved a major milestone, having passed all quality standards in the first NCFHE (now MFHEA) external quality audit. At this time, MBS was the very first business school, and the first school overall, to have passed all quality standards.