An agreement has been signed on Friday for a new office of the Malta Financial Services Authority in Gozo.

The Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri, and the Minister of Gozo Justyne Caruana, presided over the signing of an agreement between the Ministry for Gozo and the Malta Financial Services Authority, to open the Authority’s new office in Victoria.

“This agreement between the Ministry for Gozo and the Malta Financial Services Authority is confirming the ongoing work in order to bring more Gozitan workers employed in Malta to Gozo,” said Minister Caruana.

She argued that this Government is aware of the challenges and inconveniences faced by Gozo workers who have to go to Malta on a daily basis.

“Therefore the Ministry of Gozo will not only offer financial assistance to ease the burden, but agreements are being reached with several entities to open up more offices in Gozo and create more jobs in both the public and private sectors,” said Dr Caruana.

Minister Caruana added that, “with the firm and compelling intervention of our Ministry with many other ministries, departments, agencies and other bodies, we are managing to establish jobs in Gozo for many employees in the public sector who, up till today, had to go to Malta, and we have managed to create some 60 new jobs in the public sector here in Gozo.”

Dr Caruana concluded by saying that “this office also means more services in Gozo especially in a context when we are promoting Gozo as a destination for investment, and so in addition to strengthening connectivity, investment in infrastructure, capital and human resource is crucial so these services are also offered in Gozo.”

Parliamentary Secretary Silvio Schembri said that in view of the introduction of several family friendly measures and the strengthening of wages for the employers within the authority, “there was the need to identify ways to make it possible for Gozitan employers to work from Gozo to save them valuable time.”

He added that, “the signing of this agreement is a clear sign of this government’s commitment not to leave anybody behind and make sure to strengthen the existent skills in parallel with our country’s economic growth.”

“As part of the MFSA’s vision 2021 we will soon commence with the Academy for Financial Supervisors to give the necessary training, whilst discussions are underway from the implementation of the Student Placement Programme for students to gain experience in the financial sector as well as to pursue a career in an industry that is set to grow,” said Parliamentary Secretary Schembri.

The Chairman of the MFSA Professor John Mamo said that that MFSA’s decision to have an office in Gozo reflects our commitment for the MFSA to become the employer of choice.

“Whilst our primary role is the regulation and supervision of financial services, we firmly believe that in order to carry out our responsibilities, we need to get the best talent on board,” said Mamo.

The Malta Financial Services Authority currently employs over 350 employees, 7 of whom are Gozitans who will be soon performing part of their duties from the office at a site identified in Victoria, where works are already underway.

Photographs: MGOZ/Terry Camilleri

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