Ray Calleja, Head – Private Clients at MeDirect Malta, representing the Malta Bankers’ Association (MBA), recently appeared on the television programme Flusek on Net TV, hosted by Nicolette Magri Cremona. The segment was sponsored by FinanceMalta as part of an initiative led by the Malta Financial Services Advisory Council (MFSAC), to promote financial literacy.
During the programme, Ray emphasised that financial education is no longer a luxury and has become a necessity. He highlighted the importance of sound money management at the household level, the growing use of online financial services, while emphasizing the need to be vigilant against scams and fraud. Topics discussed during the slot included shopping online for financial products, retirement and longevity planning, and the rise of investments tied up with ESG (Environmental, Social, and Governance) goals.
Ray also addressed widespread misconceptions, such as the mistaken belief that individuals do not need to actively manage their finances or the misuse of credit cards as an alternative source of cash.
Ray noted that financial literacy is a matter of lifelong learning, adding that greater awareness leads to empowerment and resilience, helping individuals avoid falling into unsustainable debt.
To support this goal, he pointed to the wealth of online resources now available and the crucial role of banks, associations like the MBA, FinanceMalta, and community organisations in providing professional guidance.
The MBA – a founding member of FinanceMalta – and its members, continue to play a key role in driving financial literacy efforts, as this is a central pillar of the MBA’s long-term vision – one that continues to grow through national collaboration and public engagement. Further information on previous initiatives in this area may be found on the Association’s website on https://www.maltabankers.org/
