The Institute of Financial Services - Malta recently held its annual dinner, which this year coincided with the European Banking and Financial Services Training Association (EBTN) Strategy and Board meetings being held in Malta. The President of EBTN, Prof. Mario Spatafora, and over 30 delegates from some 20 European countries, as well as a representative from North Africa, who were attending the Malta meetings were all invited to the event.

The evening commenced with a welcome address from IFS-Malta president Joseph Abdilla FCIB, who mentioned various initiatives the Institute is currently undertaking, the continued cooperation with the UK’s ifs school of finance, University of Malta and MCAST and participation in EU projects and meetings through membership of EBTN.

This was followed by a policy speech from Michael Bonello FCIB, Governor of the Central Bank of Malta, who is also a member of the Governing Council of the European Central Bank. Mr Bonello gave a detailed analysis of the current economic situation and its future outlook and the wider implications of such challenges as inflation, competitiveness and sound public finances. The Governor concluded by saying that the Maltese economy is experiencing its first major test since the adoption of the euro and that difficult policy choices had to be made.

The next address was delivered by Minister of Finance, the Economy and Investment Tonio Fenech, who commended IFS-Malta on its activities throughout the year and welcomed the visiting EBTN delegation.

Mr Fenech spoke about the repercussions of the international crises and the resultant slowdown in the Maltese economy and what measures the government was taking to stimulate growth while ensuring an inclusive society. The key to recovery is investing in those areas that have the greatest potential of sustainable growth and create employment opportunities, he said. The renewed focus on Vision 2015, in which education and the financial services sector play integral roles, is how the

government plans to achieve this goal.

In the final address, European Banking Federation secretary-general Guido Ravoet spoke about the challenges faced by the financial services sector in a global and European context and the need for all stakeholders to work together to restore confidence and prosper.

The IFS-Malta annual dinner has become an established event in the calendar of bankers and financial services practitioners in Malta and is attended by senior management of financial institutions and the regulators, representatives of constituted bodies and members of academia, the media, the diplomatic corps and the business community.

Mr Mark Walley, ifs school of finance director of Corporate Education, travelled from the UK specifically to attend the event.