Promoting Financial Literacy amongst Youths

For the fourth year running, the Malta Bankers' Association is organizing a series of events and activities in preparation for the European Money Week, which this year is being held between 12 and 18 March.

The Money Week is an initiative of the European Banking Federation, and is aimed at promoting financial education and financial literacy amongst students and youths. National banking associations throughout the EU participate in this initiative, which reflects the banking industry's strategic aim of boosting awareness on the benefits of better financial education amongst youths and the community at large.

The MBA's programme of events centres around this theme, and is organized in collaboration with the Department of Curriculum Management's Home Economics Seminar Centre, the Central Bank of Malta, the Malta Financial Services Authority, the Malta Stock Exchange, the Institute of Financial Services, Junior Achievement Young Enterprise, and Global Payments Ltd.

This year's programme includes an innovative event entitled 'Economics for Success', which is being run in conjunction with JAYE and the Central Bank of Malta, and is aimed at Year 9 and Year 10 students aged 13 to 14 years. The half-day programme includes a series of activities through which the students learn how to set goals for their financial future and understand the connection between personal finance, education and careers.

Two successful events which were introduced last year have again been included in this year's programme. One is the 'Financial Literacy Challenge' for Year 5 to Year 8 students aged 9 to 13 years. The participating school teams have to plan and implement an activity aimed at promoting awareness related to financial literacy, education and inclusion. Cash prizes awarded by the MBA to the winning and second-placed teams are to be used to fund initiatives related to financial literacy.

The other event focuses on teacher professional development training. Home Economics teachers are being invited to participate in a seminar entitled 'Financial Literacy Education - New Developments'. The seminar is aimed at equipping participants with knowledge, skills and competencies to address innovations in financial-literacy related topics within the Home Economics syllabus.

Other events, which have also been successfully held in past editions of the Money Week, include a 'Money Matters' programme for Year 6 pupils aged 10 to 11 years, the 'Be Wise - Pay Smart' programme for Year 10 students aged 14 to 16 years following the Core Curriculum Programme, and visits to the Central Bank of Malta, the Malta Financial Services Authority and the Malta Stock Exchange.