Bank of Valletta has presented the Institute of Financial Services (Malta) with a donation to assist it in providing courses for bank personnel in various areas in financial services.

Igino Xuereb, chief officer of retail banking at Bank of Valletta, said: "The banking environment today is changing rapidly and banking groups are changing into financial services groups, which are offering specialised services, such as investments, life assurances and trade finances among others. Bank of Valletta encourages bank personnel who want to achieve training and qualifications in specialised areas in the financial services industry and supports the Institute in providing such services."

The IFS, formerly the Chartered Institute of Bankers (Malta), was established in Malta 40 years ago and formed part of the Chartered Institute of Bankers, London.

IFS president Charles Borg explained: "Five years ago CIB (Malta) set up its own Constitution. Today, although the Chartered Institute of Bankers was changed to Institute of Financial Services (Malta), it still forms part of the IFS (UK) and members of the Maltese Institute, who number more than 1,200, are members of the UK Institute.

"The Institute has a three-year strategic plan which has been approved by the IFS (UK). It changed the brand to Institute of Financial Services (Malta) and is in the process of creating new education modules.

"The Institute in Malta has relationships with the Institute of Financial Services in the UK, the Central Bank of Malta and the Malta Financial Services Centre, commercial banks, the University of Malta and MCAST. It is also seeking to create new relationships with all other foreign-owned banks, stockbrokers, licensed intermediaries and insurance brokers."

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