This paper sets out to establish to what extent, if any, a corporate governance index (CGI) is suitable and applicable to Maltese listed entities (MLEs). Two sets of semi-structured interviews were held with seven financial analysts and 13 MLEs. This was followed by a CGI survey sent to the same MLEs previously interviewed and an analysis of their Annual Reports for the three-year period 2011-2013. A CGI model purposely designed for the present study was then tested on two MLEs. Findings show that corporate governance in Malta is not given appropriate importance by MLEs. Yet respondents agreed to CGI introduction in order to improve current CG practices. The study goes on to assess the impact, benefits and limitations of such a CGI in Malta and provides feasible recommendations which may help towards the consolidation of corporate governance in MLEs.