The UK's Institute of Financial Services (IFS) has been granted taught degree-awarding powers by the Privy Council, following a full-scale review by the The Quality Assurance Agency for Higher Education.

IFS can now award both undergraduate and taught postgraduate degrees in its own right, without ratification from a third-party university. This is the first instance of an education provider specifically focused on financial services gaining the right to award its own degrees.

The grant of taught degree-awarding powers comes at the end of an application process that started in 2006 and acknowledges IFS's academic integrity as a mature higher education institution, and reflects the quality and relevance of its qualifications.

IFS has long-standing links with the financial services industry and an educational heritage spanning 130 years. It originally provided qualifications for the banking sector, but has since expanded into other financial disciplines and now has over 60,000 students studying on its various programmes across the world, including in Malta.

IFS qualifications are offered locally through the Malta Institute of Financial Services (IFS-Malta) of Pietà, as well as in collaboration with the University of Malta and Mcast.

IFS-Malta president Joseph Abdilla said: "This is an important development for IFS and further enhances the standing, reputation and achievement associated with holding an IFS qualification. IFS-Malta is proud to have been facilitating the acquisition of these qualifications to local financial services practitioners for some 30 years. Being granted taught degree-awarding powers also gives the ifs a greater level of flexibility and responsiveness to meet the needs of those working in a dynamic and ever-changing sector."

For more information visit www.ifsmalta.org.