GEMA was featured in the Gibraltar Chronicle
E-Money men establish new Association
Electronic commerce is one of the most rapidly expanding developments in modern international finance – with e-money topping the growth charts. So this month’s establishment of the Gibraltar E-Money Association (GEMA) will prove increasingly significant to the Rock’s financial sector in the months and years ahead.
Though the numbers of firms involved in this aspect remain small, their operations are growing, and the turn-out at the inaugural meeting of GEMA represented all five companies working in this sector. And its importance was acknowledged by Financial Service Commission CEO Markus Killick, who interrupted a series of overseas appointments to be present.
One of GEMA’s main objectives is to ‘work in an open, supportive and collaborative manner with the FSC…and to attract high quality new members to Gibraltar as a fast growing and well regarded payments jurisdiction’.
Daniel Spier, managing director of IDT, was elected chairman of the new association, with Peter Howitt of Ramparts its secretary/treasurer. Other members include IDT’s Gonzalo Guinea; Colin Piri and Brent Almeida of Wavecrest; Justine Gilder and Damian Asquez of Transact; and Howard Gibbs and Mark Taylor of Payoneer.