Insurance specialist GlobalCapital plc are investing in the future of Malta's financial services industry by supporting Dr. Simon Grima with the University of Malta's FEMA/BComm 3rd year students who participated in a GlobalCapital-sponsored team assignment about 'international banking law'. The two highest achievers across the course and class assignment were Giulia Maria Muscat and Roman Repovas, both achieved a highly creditable 90% grading, a cheque for €100 from GlobalCapital and an accompanying certificate. The rest of the students also received a GlobalCapital certificate.
The 2 ECTS course broadly follows the book by John Consiglio and Simon Grima, "A Law Based Financial Services Architecture" which was an outcome from students of the 2010-2011 class following the Banking Regulation and Banking Law programmes at the Department of Banking and Finance of the University of Malta’s Faculty of Economics, Management and Accountancy. The basis of the GlobalCapital-sponsored course project was that all change and restructuring in financial services must have at their basis correct legal inspiration. Dr. Consiglio originated the course, while Dr. Grima delivered the course content. For full transparency, the course tutor, assessed the students on their assignments.
Student Giulia Muscat said that the course dealt with a myriad of information relevant to the banking and finance world in light of the recent economic crisis, particularly the coherence in a new international financial architecture, law-based reforms with special reference to the case of Iceland and corruption’s undermining of reform, unfettered discretion, non-transparency and cronyism. In addition, students attended lectures on excessive lending and crises, emerging markets and lingering problems as well as transparency, conflict of interest and standards, as well as the legal underpinnings.
Dr. Grima argues that there can be no viable financial market unless this operates within the confines of the law. Financial regulation and supervision are a must in today’s globalised world. Students revisit the book's concluding chapter to addresses how the more important building blocks that can be hypothesised in the construction of any new financial architecture may contribute to pre-empt or eradicate crises.
Dr. Grima explains that. “The University of Malta tries very hard to prepare our students for the world of work. During their 4 year stay at the University, BCOM students study theory, research, sit for exams and participate in group work which very much reflects the real world at work. This vocational orientation is paramount if we are to give students a realistic skill-set prior to entering the industry."
GlobalCapital's HR Manager, Anton Callus, said, "We strongly support the work of the University and firmly believe in the potential of Malta's students and the formation they receive from the local University. In fact, this year, as in previous years, GlobalCapital engaged a number of new graduates from the University and MCAST."
The last word went to top achieving student Giulia Muscat who said, "It was an intense two credits but I got to work with people that I never had before, we always work in large groups to train us to work with other people, but this group was a pleasure to participate in. I have a cheque for €100 from GlobalCapital but as a typical banker I've saved it for now!"