Cash prizes to St Theresa College, Msida Primary School, and St Margaret College, Learning Support Centre, in Cospicua for placing first and second in the Financial Literacy Challenge will be used to foster the teaching of financial literacy within both colleges.

St Theresa College students prepared clocks from recycled material, and then sold them, using the profits to buy groceries for a group of elderly in the community.

A student at St Margaret College tested and prepared various recipes with minimal waste. After a tasting panel checked the recipes, the food was presented at an event held for the purpose. Bookmarks and booklets were also designed for this occasion.

The challenge was organised by the Malta Bankers’ Association in collaboration with the Home Economics Seminar Centre within the Department for Curriculum, Lifelong Learning & Employability of the Ministry for Education and Employment.

The association said the aim was to raise awareness of financial literacy, financial education, and financial inclusion, as well as to encourage the sharing of good practices among schools, teachers, students, and other community members.

The MBA recalled that events planned for late March in connection with the European Money Week 2020, themed ‘Promoting financial literacy among youth’, had to be postponed due to the COVID-19 outbreak and the restrictions imposed by the health authorities.

A ‘Money matters’ seminar for Year 6 pupils at the Home Economics Seminar Centre was held before that decision was made. The event sought to empower 10- to 11-year-old pupils with the knowledge and understanding, skills and attitudes to become financially literate and responsible from an early age, make informed decisions when handling financial resources, be of positive influence within their immediate family and among their peers and also to be able to distinguish between authentic money and counterfeit money.

The MBA said the European Banking Federation, of which it is a member, will mark the close of the 2020 European Money Quiz season, held every year as part of the activities organised throughout Europe as part of European Money Week, with an online Grand Finale on 16th June at 2pm.