27 September - 3 October 2001

Awareness campaign on introduction of the euro

The Central Bank of Malta and the Malta Bankers’ Association yesterday launched an awareness campaign aimed at providing information on the introduction of the euro notes and coins on 1 January 2002, and its implications for Malta.
An information leaflet was also launched. This leaflet, which is available from bank branches, provides an initial insight on how the euro notes and coins will replace the currencies of 12 European Union countries early next year. It also provides guidance to present and prospective holders of currency notes and bank accounts denominated in such currencies, as well as information on payments, contracts and legal instruments, besides giving useful advice to whoever intends to travel to these countries during the changeover period.
It was emphasised that the awareness campaign, however, is not limited solely to the publication of this leaflet and includes meetings with various constituted bodies, an exhibition on the euro as well as the publication of a more detailed leaflet on the new currency notes which will be introduced in Europe next January.
Details were also given on the process, which has been going on for a number of months, through which the Central Bank and the commercial banks have been preparing themselves for the introduction of the euro notes and coins in order to ensure a smooth transition to the new currency in Malta. Such preparations include measures to ensure an adequate supply of euro notes and others relating to the exchange of existing currency notes, the conversion of foreign currency exchangers and the training of bank staff.
The banks involved are APS Bank Ltd, Bank of Valletta plc, HSBC Bank Malta plc and Lombard Bank Malta plc. David Pullicino, deputy governor of the Central Bank, and Antonio Ghirlando, acting secretary general of the Malta Bankers’ Association addressed the conference.