Gibraltar is a long established centre for international banking services which started in the 19th century when banks were established here to service the demands of traders and international commerce at the entrance to the Mediterranean.
Today Gibraltar-based banks, made up of a combination of large global institutions as well as specialist private and investment banks and building societies, are able to provide a breadth of modern day solutions to their clients’ needs in all areas of finance. Collectively the firms are represented by the Gibraltar Bankers Association “GBA”.
Banks are committed to compliance with the highest level of international and European rules and regulations regarding the business of Banking. To this end the GBA is in regular contact with the Gibraltar Financial Services Commission “GFSC” and the Government of Gibraltar, Gibraltar Finance “GF” to co-ordinate and consult on the implementation of current and future regulations.
The Gibraltar Bankers’ Association has now been operating for over 30 years at a time when Gibraltar’s banking sector continues to be both prosperous and stable. They look forward to continuing to grow, building on solid foundations in partnership with the international financial community.
The Gibraltar Bankers’ Association was formed as a representative body to promote Gibraltar’s banking industry. This is accomplished in a number of ways including the unification of one voice vis-à-vis their stakeholders, providing the necessary forums to resolve common issues, making available adequate training and representing the Association’s members on the Gibraltar Finance Centre Council.
Gibraltar’s economy and inward investment is largely attributable to four main pillars, these being financial services, gaming, tourism and the shipping industry. The economy shows consistent and strong growth year-on-year. This has been, inter alia, because of Gibraltar’s ability to maintain itself at the forefront of the regulatory environment and by embedding a culture of strong corporate governance. An excellent standard of local and international education at all levels ensures high standards of professional ability.
The regulation of Banking services falls within the scope of the Financial Services (Banking) Act 1992, and any subsidiary legislation of the Act. Capital requirements are set out in the Financial Services (Capital Requirements Directive IV) Regulations ("CRD IV").