07/07/2015

CBM-GRTU Joint Educational Programme

In July 2014, the Central Bank of Malta and the GRTU Malta Chamber of SMEs agreed to setup a tailor-made educational programme for the retail sector. The GRTU, in consultation with the Bank, launched a survey in October 2014 to better assess its members' requirements. From the survey it transpired that only 52% of employees were given general or specific training in relation to cash handling and dealing with payments. Other issues highlighted in this survey were post-dated cheques, the handling of suspicious counterfeit banknotes, shortage or surplus of coins, dishonoured cheques, late payments by debtors, and issues at reconciliation stage.

The CBM-GRTU Joint Educational Programme is a tailor-made programme that has been developed to address these concerns and provide the necessary training and information to assist the retail sector. The Programme's main objectives are:

1.    to raise awareness on the risks existing in the areas of counterfeiting and money laundering; 

2.   to provide the necessary training to the retailers' employees in the fight against counterfeiting and money laundering thus reducing financial damage/legal risks;

3.  to inform the retail sector on the use of more efficient payment instruments.

The main elements of the Joint Educational Programme are:

1.    an 'On-going Educational Programme' which focuses mainly on cash related matters and payment instruments;

2.    a 'Certification of Cash Handlers Programme' where cash handlers are given professional training and assessed by the Bank's professional banknote experts;

3.    various onsite visits and training to large scale retailers (such as supermarkets);

4.    providing expert and technical advice on the purchase of banknote authentication devices and on other cash related matters.

For further information or to join this on-going programme, kindly contact:

GRTU - Malta Chamber for SMEs
Ms Elaine Zammit
E: eudesk@grtu.eu 
T: 2123 2881

Central Bank of Malta
Ms Elaine Lenzo 
Currency Operations Office 
E: lenzoec@centralbankmalta.org
T: 2550 6002  

 

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