3 February 2008 Rating 5% No Comment  

As from Friday, the 1st of February 2008 and up to the 15th of February 2008, Bank of Valletta branches are accepting deposits of old Maltese coins in favour of the Euro Children's Trust. The Euro Children's Trust, launched last month, is an initiative from which the children who are resident at children's homes stand to benefit. The National Euro Changeover Committee has distributed around 20,000 money boxes that were made available by the European Commission Representation in Malta. Bank of Valletta is acting as Trustee of the Euro Children Trust and is working closely with Middlesea Valletta and the National Euro Changeover Committee on this initiative. The sole beneficiaries under this Charitable Trust shall be around 200 children who, as at the 31st December 2007 were and still are resident at a children's home in Malta. The beneficial interest of each child under this Charitable Trust would materialize once the respective child would have attained 25 years of age. The Euro Children's Trust is a new type of trust that BOV is participating in for the first time - a charitable purpose trust. By participating as Trustee in this first Charitable Trust, the Bank is launching a model that can be used for other similar Charitable Purpose Trusts in the future. Bank of Valletta has provided the legal, technical and administrative expertise of its in-house Trustee Services Unit to set up the Euro Children Trust free of any charges - an initiative that underlines the importance that Bank of Valletta gives to corporate social responsibility.