Ifs Malta President, Kenneth B. Micallef commenced the proceedings with a welcome address in which he said the Institute has had another successful year and highlighting a number of key achievements, including the graduation ceremony which took place earlier in the year to officially recognise, post-pandemic, some 600 candidates who successfully completed their course of studies between 2019 and2021 and the well-attended Annual Seminar which focussed on the topical theme of ESG.
Mr Micallef thanked all stakeholders for their contribution and ongoing support to the Institute and acknowledged the ongoing cooperation with the European Banking and Financial Services Training Association whose President Dr Fatma Dirkes and Board member, Prof. Mario Spatafora were both in attendance and the strong alliance and long-standing relationship with the London Institute of Banking and Finance, whose representative, Mr Rob Thompson, also travelled to Malta to be at the event.
The keynote address of the evening was a policy speech delivered by the Governor of the Central Bank, Professor Edward Scicluna, in which he commended the Institute for its achievements during the year.
In his address, Governor Scicluna stated that a lot has changed since last year when economies were emerging from the pandemic and policy rates in the main economies were negative or mildly positive. Unfortunately, the war in Ukraine with supply chain disruptions and an unprecedented energy shock resulted in inflation taking a steep upward trajectory.
Amongst others, the Governor also made reference to the eurozone monetary policy in the light of the current inflationary scenario, gave details about the local economic activity and also spoke about the local banking system stating that this is operating with healthy liquidity buffers and improving profitability figures.
He ended his address on a positive note stating that notwithstanding the economic and other disruptions which are currently being experienced worldwide, the expected eurozone recession which was expected to hit by the end of this year, may actually not materialise.
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