Launch of new scholarship for the financial service sector
The Ministry for Education and Employment launches a new scholarship scheme specifically aimed at the financial service sector.
With respect to financial services, Malta ranks within the top 50 countries in the World Economic Forum’s Global Competitive Report 2015-2016. In fact, Malta ranks 25th in the world for its availability of financial services, 23rd for affordability of financial services and 33rd for financing through the local equity market. Despite being the smallest EU Member State, Malta distinguishes itself in this sector.
This sector is facing difficulties to fill in specific vacancies, both at top and lower levels, mainly due to professional, technical and practical skill gaps. The scholarship scheme aims to address this through specialised training in various areas of the financial services.
An agreement between the Malta Financial Services Authority and the Ministry for Education and Employment sees that for a period of two consecutive years the lump sum of fifty thousand euro per annum out of the annual profit generated by MFSA, is to be used to provide short-term scholarships at advanced level aiming to address the existing skill gaps in Malta’s financial services sector.
The sectors offered include; banking, financial institutions, insurance, insurance intermediaries, investment services, trust and trust management. Within these sectors, training is necessary in particular skills: compliance skills, fund administration skills, general regulatory requirements, technical skills in accounting, knowledge in legal aspects, communications skills, banking operations, analytical skills, IT skills, investment management skills, risk management skills, and actuarial skills.
Applicants shall start their studies within 12 months of the closing date of this call. An information meeting will be held on the 28th February at 5:15pm at the Ministry for Education and Employment. Applications will be accepted between 14th Feb and the 14th March on (https://edumalta.gov.mt/en/fin ancial-services-scholarshipsscheme).