Mar 12 GSD - What is happening at the Gibraltar Savings Bank?

Written on 12 March 2013.

The GSD is concerned about reports it has been receiving of local banks allegedly losing long standing (in some cases, high net worth) customers to the Gibraltar Savings Bank. If true, this would be a worrying development, especially following the concerns raised on behalf of the Gibraltar Bankers’ Association.

We have previously highlighted that the Gibraltar Savings Bank is not regulated by the Gibraltar Financial Services Commission, and in addition we have expressed concern that if it is to expand its services into mainstream banking services it should have an experienced and independent managerial team with a fully staffed compliance function. It is also noteworthy, that the Gibraltar Savings Bank does not enjoy solvency and capital buffers which protect normal banks, as required by international standards of banking regulation.  All these necessary and normal requirements obviously add to the cost of doing business for an ordinary bank.  

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Mar 12 - Minister Bossano Recovering from Fall

Written on 12 March 2013.

Minister Joe Bossano suffered a fall on his way to work in wet weather on Saturday morning, which saw him being admitted to the accident and emergency department of St Bernard's Hospital.

He was operated on in the afternoon for a fractured wrist and required stitches for facial lacerations.

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Mar 12 - GSD Urges Government Not to Forget Alameda Estate

Written on 12 March 2013.

The GSD has recently claimed that residents of Alameda House have on numerous occasions over the last year registered complaints at the GSD offices regarding the terrible state and total unreliability of the lifts in their building.

The Opposition insist that the residents, ‘most of whom are senior citizens and include wheelchair users, have once more brought to our notice the fact that the lifts, particularly the one at the northern end of the block, give such cause for concern that they are afraid to use them even when they have been 'temporarily repaired’.

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Mar 12 - Temple Rock Launches Experienced Investor Fund (EIF)

Written on 12 March 2013.

Temple Rock Fund PCC Limited launched its Experienced Investor Fund (EIF) on February 28^th. The trailblazing EIF has changed the investment landscape in Gibraltar and had a far-reaching impact in other European jurisdictions since its introduction in 2005.

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