Online banking education project

The Malta Institute of Financial Services is one of 10 partners taking part in an EU-funded project to set up a Virtual European Banking School.

Following months of negotiations at the pre-proposal stage, the project was accepted by the European Commission as a Socrates programme under the Minerva Action with a total budget of around €0.5 million.

The VEBS project commenced with a meeting held recently in Bucharest, Romania. IFS-Malta was represented by its executive, Brian Decelis and the head of its research unit and committee member, Peter Calleya.

Mr Decelis said IFS-Malta considered the participation in the project as a milestone and it was already exploring the possibility of participating in other EU projects.

The VEBS project is based on the belief that an innovative demand-oriented, e-learning model in the banking sector would contribute to the strengthening of European integration by enhancing the potential of human resources according to a lifelong learning perspective.

The project is being coordinated by the University of Bucharest and is expected to take two years to complete.