Bank of Valletta has just launched dual display on the “Fast Cash” screen of its ATMs. The Bank, in collaboration with the National Euro Changeover Committee, is taking such an initiative to assist its customers to get acquainted with the value of the euro in relation to the Maltese lira.

At this stage of the changeover process, the bank is adopting dual display by quoting the central parity rate of one euro is equivalent to Lm 0.4293 for information purposes only. The final irrevocable rate between the Maltese lira and the euro is expected to be known between the second and third quarter of 2007. As part of the bank’s communications strategy on the euro changeover, BOV shall be embarking on other education initiatives with the National Euro Changeover Committee, constituted bodies and civil society during 2007, till the run up to E-Day.

John Cassar Torregiani executive head responsible for the euro programme at Bank of Valletta stated, “The ATM network shall play a key role in the changeover process. At Bank of Valletta, we are gearing ourselves to ensure a smooth changeover. At this stage of the process, it is highly recommended that the general public starts to deposit excess cash holdings into the banking system and increase its usage of modern means of payments such as cards and internet bank solutions to facilitate the process. The utilisation of an electronic means of payments is an important target Malta needs to attain as part of the Single Euro Payments Area

project.”