In 1961 the Malta Institute of Bank Officials was officially accepted as the local centre representative for the Chartered Institute of Bankers in London. Its operations were wound up and taken over by the newly formed “Malta Centre”. Inauguration took place at the Exchange in Valletta on the 21st December 1961. 500 people were in attendance at the official opening ceremony and the address conveyed by the First President, Mr. L.E. Galea (1961 – 1972).
It was in 1979 when the Malta Centre licensed by the Educational Authorities in terms of the Educational Act 1974 to run its own courses, making the Banking education the cornerstone of its existence. The Malta Centre opened its own evening school and became an examining body, awarding the Certificate in Banking, which received official recognition by the Institute in London for direct entry to Stage 2.
Initially the Malta Centre offered pioneer support to bank employees studying for their Associate of the Institute of Bankers AIB, the flagship qualification of the Institute of Bankers UK. This qualification was renamed as the Associate of the Chartered Institute of Bankers (ACIB) upon the attainment of Royal Charter status by the UK Institute in 1987.
After some time, the Malta Centre obtained approval from the UK office to commence the delivery of formal tuition to support local bank employees, introducing the entry level qualification of the ACIB – then known as Stage I, later upgraded and renamed CertCIB to better reflect the changing requirements of the banking sector.
In 1989 started the first vocational courses within Malta’s education system leading to the “Certificate in Banking” delivered at the then Paolino Vassallo Upper Lyceum. 1996 was the year the “Certificate in Banking” gets approved by the University of Malta senate to be an entry into the University degree course (plus an Intermediate Level in Mathematics).
As a result of the 1994 financial services related legislations upgrade, the Malta Institute provided the necessary training and academic qualifications that were required to master the emerging and available instruments in a liberalised environment. With the advent of the MFSA in 2002, the Malta Centre again served as the standard bearer for financial education by facilitating studies for a qualification for banking practitioners which would enable them to obtain an investment advisors warrant.
The Committee proposed changes to the Malta Centre statue, giving it a higher status for a local training Institution. Approved by the 1999 General Meeting. In 2001, rebranding of the Institute profile, from “Malta Centre to today’s known Institute of Financial Services – Malta (“ifs Malta”).
ifs Malta also forged strategic alliances with internationally renowned Institutions to offer local qualifications in the areas of risk management, corporate governance and compliance. Becoming a trusted partner of such global organisations shows that ifs Malta remains constantly au courant with the industry demands and ensures that the financial services workforce has the necessary skills it needs to meet the ever-changing business and regulatory requirements.
At ifs Malta we strive to provide academic support and facilitate higher banking and financial services education to nurture the development of the required skills needed by local financial services professionals.
Over the years, the Institute has continued to introduce more courses and academic qualifications to reflect the needs of the financial services sector, including the Chartered Banker MBA, EFFAS and the local Award in Home Loan Finance. ifs Malta became a full member of the EBTN (European Banking Training Network) in 2007 and a strategic relationship with CLT International (UK). ifs Malta in conjunction with CLT, offered the first ever Diploma in Fund Administration in Malta in 2009. Other approved training partnerships were forged with ICA and CISI. The Institute has also upgraded its teaching facilities and capabilities for a better physical and virtual classroom experience. In fact, in May 2020, ifs Malta delivered its first online training session for students reading for their DipFA qualification.
ifs Malta is committed to remain at the forefront of promoting and fostering professionalism for the advancement of knowledge and education in the principles and practices of financial services for the benefit of the profession, all stakeholders and Malta on a national level.
A practical, introductory-level course that will give you a solid understanding of core compliance issues.
The main objective of this training course is to provide a solid background of the local regulatory framework.
The aim of this qualification is to provide attendees with the knowledge and skills required to analyse and respond to emerging ESG issues within their business organisation.
Combating Financial Crime, developed in collaboration with QCo, provides a global view of transnational crime.
The Institute of Financial Services (ifs Malta) recently organised its Annual Dinner at the Westin Dragonara Resort, St Julians. The well-established event in the calendar of the financial services sector turned out to be a very successful gathering of key stakeholders from the financial and business community together with those from academia and constituted bodies.
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