IMF review finds that Gibraltar's banking, insurance and anti-money laundering measures meet international standards
The International Monetary Fund (IMF) report on the regulatory environment and anti-money laundering has endorsed Gibraltar’s regulatory environment.
A team of nine evaluators from the IMF visited Gibraltar in March last year and conducted a review of the Financial Services Commission’s regulatory and supervisory practices in the fields of banking and insurance as well as a jurisdictional-wide review of the anti-money laundering and terrorist financing regime.
In all three areas Gibraltar was found to be meeting the international standards demanded of any reputable finance centre.
The report makes a number of recommendations for further improvements which are fully accepted by the government of Gibraltar.
Commenting, Gibraltar’s chief minister, Peter Caruana, said: “Government is committed to continuing to pursue a policy of proper balance between demanding the highest regulatory standards from the providers of financial services and providing an attractive jurisdiction for the conduct of profitable, safe and competitive financial services.”
