Issue link: https://maltatoday.uberflip.com/i/570058
maltatoday, SUNDAY, 13 SEPTEMBER 2015 Opinion 20 F inancial literacy covers many topics; from an education about personal finance to financial literacy skills that are essential for a career in the growing financial services sector in our islands. Our objective is that of furthering financial literacy in Malta and to this aim, we have set up a committee jointly with the Malta Stock Exchange to discuss ways in which the Exchange and the Ministry for Education can work together. Students and graduates with an ambition to pursue a career in this important sector should have the necessary skills and qualifications that will facilitate their transition from educational institutions to working environments. But critical financial literacy is essential not only for those pursuing a career in the sector. It is crucial as a lifeskill: handling money, knowing how to budget, learning to live sustainably within your means and reading between the lines when you are offered glittering financial products out to deceive you. An early introduction to financial education is important. Gaining the knowledge and skills to make important financial decisions is a lifelong process. Malta's school system should implement financial education at an early age. Our children should be given financial literacy from the first savings in a piggy bank to personal finance guidance to help them become financially responsible adults. Meanwhile, most students still graduate from high school without any formal classroom education in personal finance. We need to help our children distinguish between needs and wants and then to graduate to budgeting income and expenditure. Unfortunately most students finish compulsory schooling without a sound knowledge of managing personal finance. Together with the stock exchange we will be introducing initiatives to develop further a higher financial education. The Malta Stock Exchange will help in various ways, such as encouraging students to participate in investment competitions and to offer participation in investment courses at the Exchange. Next October, an Investor Education Conference is being held and the Malta Stock Exchange is using social media as well as various other media, such as TV and radio shows to promote educational financial information to the public. Strengthening tourism in Gozo Gozo has always been given its due importance by this government. We believe in the potential of the Gozitan people and at the ITS Centre in Qala, we have recently launched two new schemes, particularly aimed at the hospitality industry in the sister island. These schemes, originally Opinion Learning how to Expression of Interest Insurance Policy to Cover the Maltese Disciplined Forces The well-being of the personnel engaged with one of the Maltese Disciplined Forces which are the Armed Forces of Malta, the Civil Protection Department, The Corradino Correctional Facilities, and the Malta Police Force are at the centre of the political and social agenda of this Ministry. To show in practice our commitment, this Ministry is requesting detailed information with regards to the creation of an Insurance Policy to terminate or mitigate risks which may be borne by the officers due to the dangerous nature of their duties. This Ministry is hereby inviting submissions from persons/organisations in possession of all the necessary permits granted under the National Legislation and Regulations to conduct trade in the Insurance business to submit their proposal including the following information: 1. Name of submitting person(s)/Organisation; 2. Contact information for person(s) authorised to represent the submitting person(s)/organisation; 3. Brief Description of the person(s)/organisation, including legal structure; 4. A statement describing in detail the insurance policy, including the following basic concepts - Insurance Coverage Types of Insurance Policies: - Individual - Partners - Family A nominal fee may be requested to be paid by the Officer - Single Parent Life Insurance Life Insurance – Where a lump sum will be paid in case of death on duty; may also include the payment of any mortgages so that dependents would not be burdened with further financial difficulties. Accident and Sickness – If during the course of work, an officer suffers bodily harm (for example amputation or loss of sight) and/or other health issues (for example intoxication due to fumes), a lump sum would be paid in such an event. The Ministry is kindly requesting detailed definitions of what may constitute bodily harm and further specifications would also be needed on the various health issues that may occur. Health Cover Accommodation and Nursing (If care could not be granted by Public Health institutions) Ancillary Services including operation theatre, drugs, dressings and surgical appliances used in connection with treatment and diagnostic procedures including pathology, imaging and all medical scanning (If care could not be granted by Public Health Institutions) Accompanying Adult Accommodation (If care could not be granted in Malta) Physicians' Services (If care could not be granted by Public Health institutions) Out-Patient Treatment including diagnostic procedures, medical scanning techniques, and treatment (If care could not be granted by Public Health Institutions) Nursing at Home (If care could not be granted by Public Health Institutions) Cash Benefits when patient will suffer loss in pay due to the length of recovery. 5. Experience and Competence in similar service; 6. Contract Period; 7. Detailed Financial Costings. Further information regarding the Disciplined Forces may be obtained from the following website: www.homeaffairs.gov.mt/submissions The Administration is hereby notifying all interested parties that the submission date is further being extended till the 18th of September 2015 till noon, by registered mail or in person to the following address: The Permanent Secretary Ministry for Home Affairs and National Security 201, Strait Street Valletta Or by e-mail on submissions.mhas@gov.mt ! All correspondence will be treated confidentially YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Evarist Bartolo