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2 NEWS 4.2.2021 Creative entrepreneurs programme to be launched A new training and mentorship pro- gramme is being developed through a partnership between two of Malta's top cultural organisations, to boost the en- trepreneurial skills of artists and crea- tives on the island. e initiative is a collaboration be- tween the Foundation for the Promotion of Entrepreneurial Initiatives (FPEI) and Arts Council Malta (ACM), as part of the 'Investment in Cultural Organisa- tions (ICO)' funding programme. e Entrepreneurship programme for Creatives, Artists and Cultural Man- agers is aimed at individuals or groups involved in the creative or cultural sec- tors, to support the growth of these sec- tors through building entrepreneurial skills. "We have always stressed that em- bracing an entrepreneurial mindset is important, but this is especially rele- vant during this time of crisis and rap- idly-changing realities. We also believe in the value and the importance of art, creativity and culture. is initiative marries the two aspects together," says Matthew Caruana, Manager of ZAAR, Malta's crowdfunding platform to sup- port local entrepreneurs set up through a collaboration between the FPEI, the Malta Business Bureau (MBB) and the University of Malta. "We hope to help artists and creatives to become more sustainable, both environmentally and financially. Only then will the artists be able to express themselves without any obligations to anyone apart from them- selves and their followers." Set to launch in April, the programme will include a series of sessions aimed at guiding participants towards a more entrepreneurial mindset within their work or projects, while exploring how they might combine their talents with techniques adapted from the business world. Participants will receive a specialised guidebook, as well as expert training through modules on mentorship, pro- motion of crowdfunding and setting targets for fundraising in crowdfunding campaigns. e programme supports the overall objectives of Arts Council Malta, which focus on nurturing creative potential and developing it with professional skills as micro entrepreneurs and free- lancers, while increasing community engagement with the arts and support- ing alternative sources of funding and investment. rough the partnership, the fund- ing received by FPEI from ACM will be used to set up comprehensive pro- grammes of sessions and mentoring. Likewise, it will support the organi- sation of – and engagement of relevant experts to lead – workshops, seminars and educational sessions across a range of topics including project planning, forecasts, sales and marketing, organis- ing green and sustainable events, media handling, funding and grant applica- tions, pitching and e-commerce. e FPEI is also set to launch an on- line survey via its website for those in- terested in taking part in the entrepre- neurship programme, to ensure the best possible experience and to deliver the sessions according to their needs. e FPEI is supported by Arts Council Malta. More information can be found online at www.fpei.mt and www.zaar. com.mt. Creatives interested in partici- pating in the programme may complete the survey at www.fpei.mt/entrepre- neurship-for-creatives-survey/. THE risk-based approach adopted by banks towards trusts and foundations was discussed in detail during FinanceMalta's first webinar of 2021, attended by over 200 participants. "Banks in Malta: Dealing with Trusts and Foundations" was the theme of the event aimed primarily at legal and com- pliance officers working with banks in Malta. e objective of the event was to provide a better understanding of these structured entities, how they are regu- lated and accepted by banks as their cus- tomers. e need for the webinar was brought up during the meetings of the Banking Committee, an initiative spearheaded by FinanceMalta in 2020 to address the issues experienced by financial services practitioners when liaising with banks in Malta. e Banking Committee compris- es all stakeholders including the Malta Bankers' Association (MBA), the Malta Financial Services Authority (MFSA), the Financial Intelligence Analysis Unit (FIAU), the Institute of Financial Servic- es Practitioners (IFSP), the Central Bank of Malta, Malta Enterprise, the Malta In- stitute of Accountants, the Chamber of SMEs, and the Ministry for Finance and Employment. Opening the webinar, the Chairman of FinanceMalta, Rudolph Psaila, said the risk-based approach is central to the dis- cussion on trusts and foundations: "Im- plementing a risk-based approach means that supervisors, credit and financial in- stitutions, and trust and company service providers identify, assess, and understand the money laundering and terrorist fi- nancing risks to which they are exposed, and implement the most appropriate mit- igation measures. is approach enables them to focus their resources where the risks are higher." A panel discussion focused on the un- derstanding of the banks' position and concerns about trusts and foundations. e panel was moderated by Vanessa Macdonald from the Central Bank of Malta, and included Maruska Buttigieg Gili from BNF, Simon Micallef from APS Bank and Alexandra Sciberras from Spar- kasse. Webinar discusses risk-based approach to trusts and foundations

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