The European Banking Federation, together with its members in more than 20 European countries, organised the first-ever European Money Week from Monday 9th March to Friday 13th March. This week which has been dedicated to financial education across Europe has seen a wide range of events designed to boost public awareness on financial literacy and financial education for young people.
The Malta Bankers Association in collaboration with the Malta Financial Services Authority, Central Bank of Malta, Institute of Financial Services and the Home Economics Seminar Centre within the Department of Curriculum Management, Ministry of Education and Employment, collaborated through the organisation of various activities aimed at school children and other sectors of our population. This collaborative effort has placed Malta on the European Week calendar.
A seminar titled 'Financial Literacy: Let's get Focused' which was organised by the MBA and held at Le Meridien Hotel, St. Julian's, targeted the teaching profession as well as personnel from local banks. Mr James Bonello, Secretary General, MBA, welcomed the participants. The seminar was opened by Joseph Caruana, Permanent Secretary in the Ministry for Education and Employment, and was also addressed by Gaetano Bugeja, Director of the Department of Curriculum Management within the Directorate for Quality and Standards in Education, as well as Lorraine Dimech Magrin and Carmen Muscat, both Education Officers within the Department. Presentations were also given by two foreign speakers: Cameron Leader, Training and Volunteer Engagement Manager from the Chartered Banker Institute, Scotland, and Daniele Scauso, representing Child & Youth Finance International. The Seminar was concluded with a discussion panel which was moderated by Peter Calleya, Vice-President, Institute of Financial Services, Malta, and the participation of Geoffrey Bezzina, Director, Conusmer Complaints Unit, MFSA, Leonid McKay, Director, Caritas Malta and Victor Rizzo Giusti, Financial Consultant.
A main highlight throughout the week has been 'Money Matters,' a financial literacy educational programme offered at the Home Economics Seminar Centre which adopts an active learning framework and methodology which focuses on learning by doing. This programme exposes ten to eleven-year-old pupils to a process of hands-on experiences leading to debate, reflection, analysis and evaluation while equipping them with the appropriate skills, competences and attitudes to make justified informed financial decisions. This programme was offered to around 400 pupils during money week and will be extended to all schools. A life-sized mascot named 'Flusinu' was created by 10-year-old Marija Camilleri from Żejtun Primary School and a song writer was chosen to write the lyrics of an educational song accompanying the mascot.
A script which delved into the role and functions of money in today's society was written for a live sketch. An original educational board game 'Money Moves' was developed in order to provide opportunities for evidence weighing, goal-setting and solution-seeking in relation to the pre-determined financial thematic categories addressed in the programme. These include history of money, budgeting, needs and wants and bank services.
All the resources were sponsored by the Malta Bankers Association. The pilot testing which took place on the 28th of January 2015 provided a platform to test logistics and proved value. Footage captured by first year students in the Higher National Diploma Media Moving Image at the Institute of Art and Design, MCAST was aired on main local TV and radio stations. A weekly competition was also published in the Junior News supplement whilst familiarisation visits to the Central Bank of Malta were also organised.