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Press Release by the Ministry for Social Justice and Solidarity, the Family and Children’s Rights: more knowledge on financial capability

21.06.2021 | Press Releases

Reference Number: PR211181

The Ministry for Social Justice and Solidarity, the Family and Children’s Rights and the Local Councils’ Association signed a strategic partnership to work together through ĠEMMA the Government’s educational platform on financial capability, so as to improve the financial capability of Maltese and Gozitan residents throughout lifetime events including retirement. The aim of this strategic partnership between  the Local Councils’ Association and ĠEMMA is to ensure that people are better informed in matters affecting their finances so that they can make good decisions in accordance with their personal circumstances. 

ĠEMMA will work with regional and local councils though the Local Councils’ Association to implement financial capability programmes which include budgeting and protection from scams and fraud. ĠEMMA shall create resources including video clips and manuals about financial capability which shall be available at regional and local councils so as to be accessible to persons within the community. 

The Local Councils’ Association shall make its digital resources available to ĠEMMA including its You Safe portal, its Facebook page, its website as well as facilitating the partnership between ĠEMMA and the respective digital resources of the regional and local councils, so as to assist ĠEMMA in reaching more Maltese and Gozitan residents. 

This is the eleventh strategic partnership that the Ministry for Social Justice and Solidarity, the Family and Children’s Rights formed in ĠEMMA’s name with institutions and other bodies. Other strategic partnerships include those with the Central Bank of Malta, the University of Malta, Bank of Valletta, MAPFRE MSV Life, the General Workers’ Union, eSkills Malta Foundation, Mental Health Malta, Malta Chamber of SMEs and UĦM Voice of the Workers. 

Minister Michael Falzon said that the strategic partnership between ĠEMMA and the Local Councils’ Association is a turning point which shall  advance the Maltese and Gozitans’  awareness and education about financial capability. “Thanks to this strategic partnership, ĠEMMA shall position education and knowledge about financial capability at the core of local communities”. 

Mario Fava, the President of the Local Councils’ Association emphasised that the Association is proud of its relationship with ĠEMMA and with the Ministry. The association shall continue to build on previous and current initiatives on managing money and planning for the future within the Maltese and Gozitan communities so as to contribute directly towards the financial wellbeing of residents. Mr Fava stated that the first initiative between the Association and regional and local councils with ĠEMMA shall be launched at the beginning of this Autumn. 

The Ministry’s Permanent Secretary Mr. Mark Musù, who is responsible for heading ĠEMMA emphasised that the development of Malta into a nation of financial capability is a social aim in which the Government must have a primary role, however the Government alone cannot reach this goal. 

Mr. Musù expressed his satisfaction that the partnership with strategic partners such as that of the Local Councils’ Association with the Ministry and with ĠEMMA demonstrates there is agreement  about the importance of  a concerted approach towards instilling financial wellbeing in Malta. 

ĠEMMA’s financial capability platform can be accessed through www.gemma.gov.mt​

 

 

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