Women and financial literacy under the spotlight in European Money Week Conference

A conference set to take place next week under the umbrella of European Money Week, hopes to instil women with greater confidence when it comes to banking and finance.

The aim of the conference, according to the National Council of Women (NCW), one of the organisers, is “to create awareness amongst women of how important it is to be financial independent and establish a good banking relationship”.

The event will take place on Friday 24th March at the Central Bank of Malta’s Binja Laparelli, in Valletta.

“This year’s women’s day motto is DigitALL: Innovation and technology for gender equality, therefore NCW would like to encourage more women to become IT savvy especially with their investments,” said the organisation.

“The speakers will give an insight on the use and benefits and the safety and security of online banking.”

Speaking to BusinessNow.mt, NCW president Doreen Borg Zammit explains that “many women are not aware of how to access credit and how the bank can open up economic opportunities”.

She says that bank accounts “can be a gateway to the use of additional financial services” and noted that “sometimes, women face far more significant challenges than men in gaining access to these services”.

The conference will feature two successful entrepreneurs, Green Skip Services co-owner Mary Gaerty and Ikkuluriti co-founder Maria Vella, to share their experience of their communication with the bank when they decided to open their own business.

“We hope that this conference will reach its aim in creating more trust in the banking sector and the advantages of financial literacy,” says Ms Boerg Zammit.

The event is co-organised by the Malta Bankers Association, whose secretary general, Karol Gabarretta, tells BusinessNow.mt that the need for inclusivity in enhancing financial literacy is “all-encompassing”, arguing that such need cuts across, ages, genders, cultural and educational differences.

“In Malta, typically, gender still seems to play a role,” he says.

A representative for the Central Bank of Malta (CBM) said it is “is committed to continue valuing the different perspectives that women bring to the table, and thus support the promotion of women in the banking and finance world.”

“We believe that events and collaborations such as these help to highlight the importance of women’s financial literacy and its benefits which need to be put under the spotlight, addressed, and actioned upon. Indeed, improving gender equality and in this case women’s financial literacy has many positive impacts on individuals and on the society at large.”

It noted that “while the CBM’s staff and board members are gender balanced, this is not the case in the industry as a whole.”

More information about the event, including registration details, can be found here.