Gibrael Magazine 2023

Chamber of Commerce

GIBRAEL GIB RAEL

WELCOME to the 8th edition of the Gibraltar Israel Chamber of Commerce (GIBRAEL) Magazine.

Like many countries in the world that are going through a difficult period in dealing with the cost-of-living crisis, rising interest rates, the war in Ukraine, recovery from the recent COVID epidemic and political instability, Gibraltar is also not immune to these external influences, and is also waiting to see if the ongoing negotiations, which have been going on for 2 years, on the future of Gibraltar's relationship With Spain and the European Union will finally reach an agreement soon.

The Gibraltar-Israel Chamber of Commerce continues to promote joint initiatives between the two countries and last year we were pleased to be the driving force behind the launch of the joint stamp between Israel and Gibraltar, which was celebrated in a high-profile ceremony held in Gibraltar. In this context, we were saddened this year by the death of Her Majesty Queen Elizabeth II, who gave her personal approval to the joint stamp, and was a symbol of stability, tolerance, helping others and many other important values.

We also promote relations and projects in the tourism field between the two countries in the hope of bringing about direct aviation links between these wonderful destinations in the near future, and we were also happy to be given the opportunity to lecture to groups of Israeli tourists visiting Gibraltar. We had the pleasure of hosting in Gibraltar charities that do sacred work in Israel such as the Jewish National Fund, Keren Kayement )KKL( and the British branch of the "Meir Panim" associationMANNA UK, which helps needy families and Holocaust survivors.

In light of the tightening of political and business ties between Israel and neighboring Morocco, Gibraltar is an excellent base from which to do business on the Israel-Morocco-Gibraltar triangle and we witness a number of Israeli companies benefiting from the tax advantages of Gibraltar and the standard of living here, in order to conduct their activities in Morocco from here.

The establishment of Gibraltar as a leading territory at the global level in the entire field of crypto continues to attract Israeli entrepreneurs and companies in this field and we see a lot more potential for growth in this industry. Also, progress on two huge real estate projects )relative to Gibraltar( are supposed to change the urban landscape of Gibraltar for decades to come and are an opportunity for Israeli companies to enter the Gibraltar market in a wide variety of ways.

Looking ahead to the coming year, we plan to bring business delegations to Israel, participate in conferences and further strengthen Israel's ties with Gibraltar at all levels. Above all, the GIBRAEL Chamber of Commerce continues to serve as the first gateway for any Israeli entity thinking of doing business in Gibraltar and vice versa. Wherever you are, our doors are always open for you!

We wish you all a year full of health, prosperity and success!

Ayelet Mamo Shay Chairwoman

Eran Shay President

THE LADIES

THAT ROCK THE ROCK

Female leadership and involvement is an essential part of Gibraltar’s society and a key to the jurisdictions’ continued development and prosperity. This has been recognised and triumphed by Ayelet Mamo Shay’s recent book launch. Titled “The Ladies That Rock The Rock”, the book is an inspiring novella that follows the lives of 22 incredible women from different walks of life, who have made their impact on the famous Rock of Gibraltar.

Focusing on the life journeys that these women have had, the challenges and adversities that they overcame and showcasing their key successes and the contribution they made to Gibraltar, the book is an important source of inspiration to generations to come.

Interspersed throughout the book are little challenges and places for the readers to write down their thoughts, to help them in achieving their own goals. This is not just a book, but a self-development diary.

#Gibraltar Open for Business

Greeting by the Chief Minister of Gibraltar

The Hon. Fabian Picardo

Walking up Engineer Lane, one of Gibraltar’s many busy side streets, my writing of a few words for the Gibrael annual magazine came to mind.

I passed shops run by local Christian, Jewish, Hindu, and Moslem families, and yards after passing by our Hindu temple, families poured out of the synagogue door at the top of that hill. Gibraltar’s diversity and love of peace and harmony is the fruit of a long and challenging journey. Challenges – political, military, and economic - have always brought us together.

The celebration of diversity and entrepreneurship that is today’s Gibraltar and of which our Jewish community is a vital and treasured part, didn’t just happen. Our people pulled together in the face of the many obstacles that history put before us. We have learned to reach out. We have learned that our unity of purpose protects us.

It’s often said that we punch above our weight. That true, but you haven’t seen the best yet! Finally, we can feel that the worst of the pandemic is behind us. The embrace of normality has been wonderful, and I am thrilled to see tourists and visitors return to our streets and shops.

My team has been working hard these past two years to evolve a UK -EU treaty that will form the basis of how Gibraltar interacts with the rest of Europe. We have worked closely with the United Kingdom and Spain – yes Spain - as well as the European Commission to try and find an agreement that will ensure fluidity at our land border with Spain, which is the EU’s border with us, to inject the economies on both sides of the border with the drive, vision, and opportunity. This is needed not just to recover lost ground, but to look ahead to prosperous and dynamic times just at a moment when the world is facing heightened uncertainty. We can’t sit back and wait.

Gibraltar is bubbling with ideas and creating the environment to make these translate into achievement.

Whatever the outcome of these talks with the EU – still very intense as I put pen to my e-notebook – Gibraltar will continue to create opportunities and to do business with the world and our very valued friends in Israel.

The work of our communities together, Gibraltar and Israel, is the reflections of a wonderful and treasured friendship.

I look forward to meeting and supporting you all in your efforts over the coming year.

Shalom!

Fabian Picardo QC MP Chief Minister

Walking up Engineer Lane, one of Gibraltar’s many busy side streets, my writing of a few words for the Gibrael annual magazine came to mind.

Did you know...

There are 32 miles of tunnels within the Rock of Gibraltar, dating back to the 18th century and 1st and 2nd World Wars

GIBRALTAR GIBRALTAR

Dear Friends,

May I start by expressing my sincere thanks to you - the Jewish community of Gibraltar - for your continued warmth and friendship towards the State of Israel.

Gibraltar has long been a beacon of hope and encouragement for the Jewish community worldwide. For hundreds of years, Jews in Gibraltar have - as a richly diverse community in itself - been an integral part of the fabric and identity of the Rock. The late Rabbi Lord Jonathan Sacks accurately described how "in the dark times of expulsion and inquisition, Gibraltar lit the beacon of tolerance". He was correct when he said, "the Jewish community is intimately intermingled with the history of Gibraltar" adding, "it is probably the community where Jews have been the most integrated”.

I am immensely proud that the friendship between Gibraltar, its Jewish community and the State of Israel has continued to flourish. The steadfast relationship between the British diaspora - both in the United Kingdom and overseas - and the Embassy never ceases to move me and Israel remains grateful for the incredibly special connection that exists between us.

Not least because, Israel and Gibraltar have so much in common in terms of our commerce and trade. The thirst for innovation that we share has resulted in thriving high-tech sectors in our respective countries, adding to the strong bilateral trading relationship of our triangle with the United Kingdom. I want to thank the entire team at Gibraltar Israel Chamber of Commerce for all their hard work in strengthening connections between Israeli, Gibraltarian and UK businesses.

AMBASSADOR OF ISRAEL TO THE COURT OF ST. JAMES’S

Though much has changed in recent months, our bond abides. It was with great sadness that we mourned the death of Her Late Majesty Queen Elizabeth II. As the longest reigning monarch in British history, Queen Elizabeth II was a symbol of unity during moments of great historical change. Notably, she championed the lessons of the past, such as through her private dialogues with Holocaust survivors. I was humbled to join the Israeli President, Isaac Herzog, in paying our respects to the late Queen at the Lying-in-State, with the President also representing the State of Israel at the State Funeral.

We now look ahead to May 2024 for the happier occasion of the coronation of His Majesty King Charles III. With his accession to the throne, the State of Israel wishes the King the very best of luck for a successful and long reign.

In Israel, following our legislative elections, which took place in early-November, a new Government is being formed, and which looks forward to further deepening and strengthening our friendship with Gibraltar and its Jewish community.

Finally, it is with great joy that Israel will be celebrating its 75th anniversary of independence in April 2023. This is a historic moment for both our country and for our people, and as festivities take place around the anniversary, I invite you to join us in celebrating this special occasion, perhaps by hosting an event of your own.

Continuing to connect, listen, and engage with the diaspora remains a priority for both the State of Israel and myself, and I want to thank Israel’s Honorary Consul in Gibraltar, David Benaim, for ensuring that our strong bond grows ever stronger still.

I very much look forward to visiting Gibraltar in the near future and to meeting you all soon.

I am immensely proud that the friendship between Gibraltar, its Jewish community and the State of Israel has continued to flourish.

Gibraltar key facts:

Location: Not an island! Located at the Southern tip of Spain, 16km across the Strait of Gibraltar from Africa (Morocco)

Size: 7.59 Square Kilometers

Population: 34,000 Language: English and Spanish

Political status: British Overseas Territory, Independent Parliament, only dependent on UK for Foreign Affairs and Defence Legal system: English Common Law Currency: Pound Sterling

GDP (2020/21): £2.41 Billion GDP per Capita (2020): £79K (highest in world)

Accessibility: Direct flights to Gibraltar from the UK, Spanish regional airports of Malaga, Seville and Jerez all within 90 minutes driving range.

,הפוריא לש הירוטסיהב ןפוד תאצוי תובישח הלבסו תובר תונידמו תוכלממ לש תוליח החריא ,םייניבה ימיב המקוהש ,םינוויה ,םיאמורה

לפטמ אוהו ,ילגנאה הכולמה תיב ידי לע .ןוחטבהו ץוחה יסחיל םירושקה םיאשונב לע תססובמ רטלרביגב טפשמה תכרעמ ,תוימוקמ תומאתה רפסמ םע ,ילגנאה קוחה .טפשמ יתב םימייק רטלרביגבו

םיסומעה תונפסה יביתנמ דחא וניה רטלרביג רצימ םויכ .הירוטסיהה רחשמ בושח .הקפסא תלבקו הקוזחתל הילא תועיגמ תובר המחלמ תוניפסו יתוכלמה יטירבה יצה לש בושח תוליעפמ .הנממ תולעופש תוליבומה םירומיה תורבח תוכזב ילאוטריוה םירומיהה םלוע לש "סאגוו סאל"כ העודי רטלרביג :eBusiness-הו טנרטניאב םירומיהה רזגמ,ףסונב .יטירבה קושב טנרטניאב םירומיהה ךסמ 75%-כו תימלועה טנרטניאב םירומיהה תוליעפ לכ ךסמ 60%-כ תווהמו ףנעב רתויב תולודגה תורבחה ןניה ולא םירומיה .ךומנ וסימו עפשב בחר ספ ,eBusiness תדדועמ הקיקח תוכזב רטלרביגמ םתוליעפ תא םקמל תורחוב טנרטניא תוססובמ תורבח תוששואתה ךילהתב ןיידע ןבומכ הז רזגמ .ןטקה הלדוגל תיסחי םוצע רפסמ -םירקבמ ןוילמ 10 לעמ הנש ידמ רטלרביגל םיעיגמ ויה ,הנורוקה תפיגמ ינפל :תורייתה רזגמריוואה ךרד םיעיגמ םקלחו דרפס םע יתשביה לובגה רבעמ ךרד םיעיגמ םירקבמה בור .הנורוקה ינפל לש תומרל םירקמה רפסמ רוזחי 2023 ב רבכש ןכתיו הנורוקה תפיגממ ףסונ ירקיע הכישמ דקומ ,הקירפא רבעל תיפצתו תונושה

60%

תורבחה ךא )הקיר הטסוקו

המ ,תימלועה טנרטניאב םירומיהה תוליעפ יתלב טעמכה רדגב ןיידע אוה םירומיה ליעפמ ןוישר תלבקש דועב .ילאוטריוה םירומיהה רשא רבד( םירומיהה םלועל םיקחשמו תונורתפ תוחתפמה תוילארשי הנכות תורבחל ,ירשפא תיזיפ םיבורק תויהל תנמ לע רטלרביגב החולש םיקהל דואמ יאדכ )דחוימ ןוישר ךירצמ וניא רטלרביגבו ,םייתרבח םישגפמב תושענ תואקסע הברהש עודי הז ירה .קושב םילודגה םינקחשל וא ,יהשלכ םירומיה תרבח ל"כנמ בשיי ךדיל ןחלושו הדעסמב בשתש הובג דואמ אוה יוכיסה הנטקה ...דואמ הרצק איה תישיא תורכיהל ךרדה םשמו ,ךידלי לש התיכ התואב ודמלי ולש םידליהש תוריז ,ינורטקלא רחס ירתא אמגודל( טנרטניאב

לש "סאגוו

KKL-JNF CONNECTS BETWEEN ZION AND JEWISH COMMUNITIES AROUND THE WORLD

This past October, 86 delegates from around the world came together for the Keren Kayemeth LeIsrael-Jewish National Fund )KKL-JNF( World Leadership Conference )WLC(, held in Jerusalem, Israel. The delegates consisted of KKL-JNF representatives from 36 countries, including Cuba, Venezuela, Finland, UK and more. For the first time in KKL-JNF’s history, this year the conference had a representative from Gibraltar, Mrs. Ayelet MamoShay representing the country. After a four-year hiatus due to the pandemic, this was truly a welcomed occasion, filled with new opportunities and friendships; together they discovered new ways to strengthen the bond between Israel and the Jewish communities in the Diaspora. During an intense five-day program, the delegates experienced first-hand KKL-JNF’s multifaceted endeavors in Israel and learned of its plans for the future; and while visiting KKL-JNF projects, they saw their importance and contribution to Israel and the Jewish people.

Established over 120 years ago, KKL-JNF was one of the world’s first pioneers in the field of forestry, Zionist education, and community development. Today, KKL-JNF is active in more than 55 countries and works in close collaboration with a wide range of Jewish communities, government agencies and NGOs in Israel and abroad. Mandated by the Israeli government, KKL-JNF also acts as Israel’s National Forest Service and Land Development Authority, managing over 300,000 acres of planted forests and woodlands.

KKL-JNF is also one of the largest Jewish educational organizations in the world. By creating rich, meaningful, and interactive Jewish, Zionist, and environmental programs, for use in Israel and overseas, KKL-JNF is ensuring a strong Jewish-Zionist identity and unbreakable bond with Israel for the future generations. KKL-JNF reaches Jewish communities around the globe, even in places with little or no other Jewish-Zionist organizations present.

KKL-JNF Zionist-educational programs include a variety of activities that instill knowledge, love, understanding and affinity to Eretz Yisrael, Israeli history, heritage, and environmental awareness. KKL-JNF's Israeli "Shlichim" )emissaries( join KKL-JNF offices and educational staffs worldwide, becoming pillars of the communities and local schools, passing on their knowledge, unique experiences and bringing the spirit of Israel closer to the Diaspora.

One of KKL-JNF greatest achievement of the past few years are the "KKL-JNF Heritage Centers" built in Nof HaGalilee and Kiryat Malachi, the latter a joint venture with JNF UK. These one-of-a-kind educational centers strengthen high-school students academic and social skills and aim to close the gap between youth in central Israel and the periphery and grant them equal opportunities to succeed in the future.

Nearing the months of January- February, KKL-JNF traditionally celebrates every year the holiday of Tu B’Shvat- The New Years of all trees. The celebrations, known throughout the country as a KKL-JNF holiday, take form by planting trees in its forests, engaging in unique community activities and events, and supplying seedlings to Jewish communities and schools in Israel and abroad. This year's holiday will be even more special as it follows the Shmita year, and KKL-JNF has waited a whole year to return to the forests and making Israel bloom. Each year KKL-JNF hands out thousands of tree seedlings to all communities and residents so they can fulfill the great deed of planting a tree in the Holy land. This year’s festivities will be tripled and KKL-JNF is prepared to continue the 120-year tradition of planting trees in the lands of Israel and looking forward to the support from every corner in the world, seeking to enrich the land and forests– tree by tree.

Established over 120 years ago, KKL-JNF was one of the world’s first pioneers in the field of forestry, Zionist education, and community development.

Celebrate Tu’Bishvat—the Jewish holiday for trees—by planting roots in the land of Israel!

KKL-JNF invites you to plant a tree in Israel on Tu’Bishvat and leave roots that will flourish and contribute to a greener, brighter tomorrow.

We offer on-site and remote options:

On-site: If you’re planning a visit to Israel, we invite you to roll up your sleeves and plant a tree in of KKL-JNF’s tree planting centers, located in Nachshon Forest in the Judean Lowlands or in the Lavi forest, near Tiberias.

Remote: If you aren’t planning a trip in the near future, you can plant a tree virtually or make a donation for a tree to be planted in your honor.

When you participate in a physical or virtual planting, you will receive a personalized beautiful tree planting certificate.

Since 1901, KKL-JNF has planted over 240 million trees in Israel. Join us in this important mission.

For all tree plantings needs and more information, kindly contact the Gibraltar and UK Liaison at KKL-JNF: Ms. Moria Gilbert

Via email moriag@kkl.org.il or via phone 972-2-6583795

Tu'Bishvat Sameach!

"Let no one ever cease from planting. Fields filled with trees greeted us at birth, and we should add to their number even in old age."

The Midrash on Genesis 2:8

WITH GIBRALTAR-ISRAEL CHAMBER OF COMMERCE

1WHAT EXACTLY DOES THE GFIU DEAL WITH AND WHAT DOES YOUR ROLE INVOLVE?

The Gibraltar Financial Intelligence Unit )GFIU( is the central authority for the receipt, analysis and dissemination of intelligence related to money laundering, terrorist financing and proliferation financing. It plays a critical role in the fight against economic crime and has become a hub of intelligence. It functions like a conduit between financial institutions, law enforcement agencies and supervisory bodies. The GFIU is a member of several international bodies, including the Egmont Group of Financial Intelligence Units and the International AntiCorruption Coordinating Centre.

As a key partner, the GFIU also chairs and participates in a number of working groups, such as the Joint Financial Intelligence Tasking Group and the Joint Coordinating Intelligence Group to Counter Proliferation Financing.

In recent months we have also led the establishment of a publicprivate partnership between all of Gibraltar’s banks, the Royal Gibraltar Police, HM Customs and the Gibraltar Financial Services Commission.

So, as you can see, we have developed into a major cog in Gibraltar’s anti-money laundering mechanism, providing training through Project Nexus, our outreach program, and publishing guidance notes on several topics related to economic crime. I have a great team of dedicated officers. Despite our small size, we have made significant progress in developing ourselves as a trusted and valuable partner at a local and international level.

Well, I was a police officer for 21 years. In my last years as a senior officer, I was seconded to the GFIU to ensure that it met the standards required by Moneyval, which is the Council of Europe’s Committee of Experts on the Evaluation of AntiMoney Laundering Measures and the Financing of Terrorism.

I was appointed Director of GFIU at the end of March 2020. The job is very demanding, especially maintaining specialist skills in an ever-changing world.

In my spare time, I am studying for a Masters at King’s College London on International Affairs, specialising in Cybersecurity.

Getting grey-listed was a very disappointing result for Gibraltar and, of course at a personal level, because I am acutely aware of the considerable effort that all stakeholders put in. But the whole process from Moneyval to the FATF has professionalised us even more and we are now in a much better position than we were in December 2019.

Of course, I am confident that we can be removed from the grey list but we need to ensure that we work collaboratively as a jurisdiction. We have a great working relationship with the private sector, but I would want to enhance this further because we cannot fight criminals alone. The private sector is our eyes and ears, the frontline if you like and I will focus our efforts in bringing them closer through partnerships.

We continue working hard for our next Moneyval assessment and this means doing what we are meant to do, denying criminals or terrorists access to our finance centre.

4WHAT

INTERNATIONAL LINKS DOES THE GFIU HAVE AND HOW DO THESE LINKS ASSIST IN THE DAILY OPERATIONS OF THE GFIU?

The GFIU plays an important role in international anti money laundering and counter terrorist financing initiatives through its contribution to global programmes, international fora, engagement with other FIUs and information exchange networks.

Our exchanges of information are done through the Egmont Secure Web, which has a network of over 165 countries. These exchanges occur daily and much of our work is driven by the intelligence we receive and disseminate to foreign FIUs.

The GFIU has an excellent relationship with the Israeli FIU, we participate in a number of working groups through the Egmont Group.

Opportunities to work with our Israeli counterparts will always exist. Economic crime knows no borders, and we see increasing cases that involve transnational criminal activities.

It is reassuring to know that as FIUs, we will do our utmost to ensure that our bilateral collaboration will identify and detect criminals who may be operating in both our jurisdictions.

GIBRALTAR WAS RECENTLY GREY-LISTED BY THE FINANCIAL ACTION TASK FORCE. WHAT ARE THE KEY AREAS OF IMPROVEMENT THAT NEED TO BE DONE AND DO YOU THINK GIBRALTAR CAN RETURN TO THE WHITE LIST?

5HAVE YOU HAD ANY EXPERIENCE DEALING WITH THE ISRAELI FIU? DO YOU THINK THERE ARE ANY OPPORTUNITIES FOR COOPERATION BETWEEN GIBRALTAR AND ISRAEL ?

The GFIU has an excellent relationship with the Israeli FIU, we participate in a number of working groups through the Egmont Group.

Passionate About Medicine, Compassionate About People

The Specialist Medical Clinic is an established private medical practice offering first rate primary and secondary care. Our committed team of over 30 accredited, experienced and specialist doctors, allied healthcare practitioners and nurses are focused on providing a high quality, friendly health service based on UK standards and governance. The clinic is centrally located in Casemates Square in the very centre of Gibraltar.

Mr. David Deardon

DAVID DEARDON

BM MD FRCS FRCS)Ed(

Chief Executive / General Surgeon & Endoscopist

30 years ago, most private healthcare consultations in Gibraltar occurred in small clinical “rooms” dotted around the town. At that time, one prominent clinic in Marina Bay saw local doctors and visiting specialists from the UK providing a primary care and multi-specialist service to its patients; a model which has been successfully replicated by todays established clinics. More recently newer clinics have been established offering patients an even wider choice of services.

Patients often wonder whether private healthcare is superior to public sector. The truth is that just because you pay for private medical services, it does not necessarily mean you will get better care! In the UK doctors often work simultaneously for both the NHS and private sector clinics and hospitals. Like elsewhere in the world, doctors in Gibraltar are required to abide by stringent clinical standards and as those familiar with the Hippocratic oath will know,

doctors are charged with endeavouring to do what is clinically and morally right no matter where they are working!

The Specialist Medical Clinic )SMC( was founded in 2008 by local doctors who wanted to make a difference to local private healthcare services. Located in the ICC building at Grand Casemates Square, the clinic started as 2 consulting rooms and a small treatment room. Building its reputation on excellent evidence-based medicine, high quality clinical standards akin to those found in the UK and a happy, efficient and friendly patient interface, today, with 10 consulting rooms, an operating / endoscopy facility plus a dedicated eye centre, the clinic is home to over 30 specialist clinicians. www.smc.gi

At SMC, we believe private healthcare services should be complimentary to public funded

services, not competitors! In Gibraltar, most of the day-to-day public demands for urgent and acute healthcare fall on the public sector. Private providers like SMC are not burdened with the extremely expensive overriding responsibility of providing complete healthcare services to the whole population at risk. Simply put, at SMC we afford our patients the luxury of spending more time with their clinician, and the choice as to when, where, and with whom they have their consultations, investigations, and treatments.

In January 2022, we announced that we were building Gibraltar’s first private hospital and diagnostic centre. Currently under construction and due to open early next year, the hospital is conveniently located in the middle of town. When open it will provide day-case and short stay surgical care, imaging, diagnostic, and extended out-patient services

across 20 specialist treatment centres. As the company prepares to take its next bold step, our clinical, customer service and administration teams are looking forward to soon welcoming you to Gibraltar’s exciting new private healthcare experience – GibMed International Hospital.

To find out more, visit our website www.gibmed.gi and sign up for our free newsletter.

we believe private healthcare services should be complimentary to public funded services, not competitors!

Perspective matters

The future asks more of business. A need for wider knowledge, swifter actions and more agile capability. A demand to look at the world from a whole new viewpoint.

Deloitte identifies the new perspectives that will drive decisions, to build confidence in shaping the solutions that matter.

A fresh view on addressing your most challenging decisions await at:

Tel: +350 200 41200

g gibraltarinfo@deloitte co uk

Gibraltar is self sufFIcient and produces its own electricity

-המ תואלפתמ םלועה לכמ רטלרביגל תועיגמה תורז םוחתב רטלרביגב םייקש דואמ חתופמה ECOSYSTEM .טרפב וטפירקהו ללכב ןיי'צקולבה

Global reach, local support.

CONTINENT8 TECHNOLOGIES

David Black, Managing Director – EMEA, at Continent 8 Technologies

It’s been another busy year for Gibrael and indeed for Continent 8 Technologies. I was delighted to be able to visit Gibraltar in June and to catch up with friends of Continent 8 both old and new. This included our good friends Ayelet and Eran. We enjoyed our regular breakfast meeting, discussing ‘The Ladies that rock the Rock’ and all things concerning Gibraltar and Israel. Said breakfast certainly sets one up for the day ahead, and indeed a breakfast with Ayelet and Eran can set one up for a month! As ever, I express my gratitude to both for their endless positivity and ideas for economic development. It is a delight for Continent 8 to support Gibrael.

The week of our meeting I also attended the KPMG eGaming Summit on the Sunborn Gibraltar. The agenda featured thought-provoking speakers covering a range of important topics. Our Leaders & Legends panel, comprising some of the most well-known and respected names in the industry, was a great success.

The year 2022 has been a significant one for Continent 8, with continual product development and global growth.

We have expanded our Cloud offering as part of continued efforts to become the leading multi-cloud solutions provider for businesses in Gibraltar and beyond, launching in various locations globally including Ontario and several US states. We have also achieved AWS Advanced Consulting Partner status and Microsoft Silver Partner status.

Amid the rise in volume and severity of cyber-attacks, we continue to develop and strengthen our Secure offering, delivering multi-layered security solutions to combat the ever-increasing cyber threat that

businesses of all sizes face. This includes DDoS and WAAP protection as well as MDR/EDR and SIEM/SOC solutions. With the average cost of a data breach in 2022 hitting a record high of USD$4.35m, all businesses across all industries should be asking themselves ‘is my company data protected?’.

Meanwhile, our private connected network now spans more than 85 locations across four continents, with a rapid growth strategy for the US market which includes 24 states live. Despite this significant growth, we remain rooted in the communities we live and work in while supporting these communities with global reach.

In the case of Gibraltar, although we tend to punch above our weight internationally, we are a small community, and Israel, while more populace, amply supports the theory of the strength and potential of small communities.

It’s fair to say our Gibraltar data centre is our most unique site. The highly secure data centre is located 500m deep inside the Rock within an ex-United Kingdom Ministry of Defence )MoD( facility.

We are proud to have the most secure and well-equipped hosting centre in the jurisdiction. We power many iGaming customers and we are the hosting provider of choice to the Government of Gibraltar, which recently signed a new contract with us for the next five years to June 2027, a relationship that began back in 2011.

As ever, we send our best wishes to all in the Gibrael community. Continent8.com

The year 2022 has been a significant one for Continent 8, with continual product development and global growth.

CRYPTOCURRENCY MARKET

The cryptocurrency market has seen a downfall in recent months, with Bitcoin having dropped around 57% year to date, since its last all-time high value of more than $68,000. The decline has been caused by macroeconomic factors such as the rising interest rates, inflation, and economic uncertainty. It is unclear how long crypto's decline might last, it is evident that volatility is unpredictable, however it is not unprecedented.

Bitcoin and cryptocurrency generally are no strangers to volatility – volatility was the only certainty in this context in the early years and, as we have seen, it remains a key feature of it today. Despite the central tenets of blockchain technology and its treatment so far in the context of currency/investments, it arguably doesn’t have to be this way.

The solution is enforcing suitable regulation and enhancing consumer protection, with the overall objective of overcoming future challenges that will be faced within the volatile digital asset market. Gibraltar is moving in

By Isabella Lombard

the right direction and has even built its own reputation as the 'hub' for cryptocurrency.

Gibraltar’s principles-based regulations provide the right mix of prescription and flexibility that enables firms to conduct their business in the space within a certain and business-friendly environment which facilitates innovation. In Gibraltar, the regulatory framework eschews the rigidity of strict rules and the limitations imposed by sandbox environments that stifle creative energy in the space. Stakeholders benefit from the enhanced conduct of firms as they focus more on improving substantive compliance and less on ‘box ticking’. Based on the working assumption that the digital asset market is continuously evolving, a principlesbased regulatory framework enables the jurisdiction’s stakeholders to adapt and thrive with every new twist and turn.

An example of this was the recent introduction of the ‘10th’ principle, joining the 9 other principles of the Financial Services )Distributed Ledger Technology provider( Regulations 2020

)‘DLT’(, in mirroring the core Financial Services regulatory and legislative principles. The 10th principle was added in April this year, relating to market integrity and protection against price manipulation.

The regulatory principle states “A DLT provider must conduct itself in a manner which maintains or enhances the integrity of markets in which it participates.”

It is essential to set standards of market integrity, to allow continuous development within the DLT industry and strengthen Gibraltar's framework for DLT regulation. The addition of this 10th principle serves to restrict manipulation in the same way that it is restricted in traditional markets. The Market Integrity principle is just another illustration of the key objective of the work the jurisdiction does in this context – it demonstrates that Gibraltar is a secure jurisdiction in the DLT space, with the aim of providing market security to both the businesses and the consumers.

“A DLT provider must conduct itself in a manner which maintains or enhances the integrity of markets in which it participates.”

gibraltar runway

did you know...

Gibraltar's runway is the 4th most challenging for pilots in the word. It is short, has sea on both ends and prone to cross winds!

Over 180 Years of Private Banking Expertise

Headquartered in the centre of Gibraltar, nestled between the local Parliament and City Hall in John Mackintosh Square, known locally as ‘The Piazza’, is Parasol International, the family office of Ruth Parasol.

The family office was established 18 years ago in Gibraltar, and the principal and her team has always regarded Gibraltar as her family office’s home. Gibraltar’s highly skilled professionals have facilitated the growth of the office with more than 20 individuals locally based who variously provide wealth management, real estate and legal and financial advisory services to the Principal and her family.

Parasol International remains closely engaged with the local Gibraltar community’s needs, in particular through its philanthropic arm, The Parasol Foundation Trust.

It believes in reciprocating to the community by providing funding for local initiatives, such as the recently announced donation of £1.5m for the new Gibraltar National Theatre and Cultural Hub development at the John Mackintosh Hall with the creation of The Parasol Foundation Art Gallery.

Since the Trust’s establishment in 2004 it has undertaken numerous philanthropic activities and has awarded over £35m to a series of ambitious projects and collaborations. As a tech pioneer and entrepreneur, the Foundation’s principal benefactress, Ruth Parasol, is particularly passionate about supporting women in achieving their potential and ambitions in the fields of Science, Technology, Engineering and Medicine.

PARASOL FOUNDATION TRUST

The Foundation’s support is global and has made a positive impact in communities in the UK, US and Israel, as well as Gibraltar,with a focus on funding long-term initiatives with an international outlook.

The Foundation’s recent notable projects in Israel, include a long-term partnership with the Laniado Hospital in Netanya and the creation of ‘The Parasol Centre for Woman’s Cancer Research’ in conjunction with the Tel Aviv Souraski’s Medical Centre which aims to develop a variety of research

protocols and clinical trials to develop new approaches to early detection, prevention and individualized treatments that will improve cancer survival for women.

It has also lent its support to SpaceIL’s space-science program which will create new opportunities to empower women in the Space industry.

Parasol International recognises the potential synergies for mutual commercial, social and cultural benefit between Gibraltar and Israel and believes strongly in pursuing such collaborations.

We commend Gibrael for facilitating these beneficial relationships and wish them continued success in the future.

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DON’T ALLOW YOURSELF TO BECOME A TARGET OF ONLINE CRIME

Why tightening your cyber security is key

Masbro Insurance Brokers have proudly been providing Gibraltar with top tier Insurance products for over 35 years. Their dedicated team of Insurance specialists strive to secure the best value on the market for their clients while providing a consistently high level of customer care to match.

As well as a range of comprehensive personal & commercial Insurance options, Masbro can assist you in protecting your company from all manners of digital attacks.

In the post Covid-19 pandemic world we find ourselves in, cyber-crime is rife. Over the pandemic period - ransomware attacks rose by an estimated 150%. A time that has seen remote working become common practice & that has actively encouraged a reliance on cyber communication in order to ensure our physical wellbeing - has left many vulnerable to online attacks. It has been reported by the National Fraud & Cyber Crime Reporting Centre that an estimated £9.6million had been lost as result of Cyber crime between 2020-2021.

where the General Data Protection Regulations have never been more important, businesses owe a duty of care to their clients to ensure that their personal data isn’t at risk.

Know your threats

It seems that the majority of us have received some sort of email threat, be it – someone trying to procure your personal information from you, or, claiming you’re owed a substantial amount of money – but first, please provide all of your personal data.

These are some of the more popular examples of online threats you should be aware of & how they may present themselves:

Phishing - An attempt to trick the intended into sharing sensitive data. For instance, credit card information or passwords.

Spear Phishing – A specific form of phishing with the purpose of stealing data from a targeted source for malicious purposes, or in order to install malware on the victim’s PC.

Ransomware - This is when the attacker encrypts company data so it is inaccessible to anyone other than the attacker. They then force the company to pay a ‘ransom’ in order to gain access.

How can we help?

We at Masbro work with a number of Underwrites in London, as well as local cyber security experts so we may afford our clients a diverse array of Insurance options. Working with specialists such as Hedgehog Cyber Security locally, we are able to secure exclusive deals for our clientele.

A highly talented team of cyber security specialists will help to identify any weak spots in your business & systems, providing solutions to strengthen them whilst safeguarding against any future threats.

Get in touch with Masbro today in order to pull up your company’s digital drawbridges, & lock the gates to any potential hackers. For your personalised & tailored quote, contact Masbro Insurance brokers at masbro.gi info@masbro.gi +350 200 76434.

The size of your company holds no bearing on the likelihood of you or your business becoming a cyber-crime victim. From technological giants such as Yahoo or Uber, to small businesses –cyber criminals don’t discriminate. At a time

Businesses Email Compromise (BEC) - A more sophisticated form of spear phishing – whereby, the attacker poses as a corporate email account with the intention of defrauding the company. This often results in huge financial loss for the victims.

WATCH OUT WATCH OUT

SIMPLIFIYING LIFE’S FINANCIAL CHALLENGES

We strive to make a difference to our clients, our communities and our people. As a responsible bank, we champion talent from diverse backgrounds. kleinworthambros.com

SG Kleinwort Hambros Bank Limited, Gibraltar Branch is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is authorised and regulated by the Gibraltar Financial Services Commission in respect of banking, investment and insurance mediation business. The company is incorporated in England & Wales under number 964058 with registered office at One Bank Street, Canary Wharf, London E14 4SG and is registered in Gibraltar under the Gibraltar Companies Act with its principal place of business in Gibraltar at Unit 5.02, Madison, Midtown, Queensway, Gibraltar GX11 1AA.

A brief ceremony was also hosted by the committee of Nefutzot Yehuda synagogue to mark the occasion, earlier in the day.

Over 50% of the population of Gibraltar lives on land which has been reclaimed from the sea

Did you know...

A Joint Stamp Launched!

Gibrael Chamber was delighted to have played a driving role in the issuance of a joint stamp between Gibraltar and Israel. The stamp was unveiled on 15th February, 2022 at a ceremony at the Sunborn Hotel, in the presence of His Excellence Governor of Gibraltar, Minister for Business Vijay Daryanani, and many other distinguished guests. The stamp showcases the theme of shared religions, depicting Nefutzot Yehuda Synagogue on the Gibraltar side of the stamp, and the Basilica of Annunciation in Nazareth, on the Israel side of the stamp. The stamp was designed by photographer Steven Perrera, and the project was managed from Gibraltar by Aaron Enrils, head of the Gibraltar Philatelic Bureau and Glendon Martinez, Director of Postal Services; and from Israel by Mr. Elhanan ShapiraHead of the Israeli Philatelic Service and Danny Goldstein- CEO of the Israeli Post Company.

Commenting on the joint stamp issuance, Gibrael Chamber’s Chairwoman, Ayelet Mamo Shay, said: “The joint stamp does not only represent the growing relationship between Gibraltar and Israel in recent years, it represents the coexistence and diversity of religions both in Gibraltar and in Israel. For me, this project has an even greater personal angel- as before

relocating to Gibraltar, I used to work in the Israeli Postal Authority as a branch manageress, and now, to have the honour to take part in the issuance of the joint stamp between Gibraltar and Israel, means going the full circle.”

Issuing the joint stamp was not at all a simple process and took over 2 years in the making, requiring the approval of Her Majesty Queen Elizabeth II, the Government of Israel and the Government of Gibraltar. “Even when we were told several times that it was not possible, we did not give up; we persisted and made it happen!” said Gibrael Chamber’s President Eran Shay.

Video greeting messages were sent by the Israeli Minister of Communications, Mr. Yoaz Handler, Mrs. Efrat Perry from the Israeli Embassy in London, and by Mr. Elhanan Shapira, Head of the Israeli Philatelic Service, who also marked the occasion in a ceremony held in Israel. A brief ceremony was also hosted by the committee of Nefutzot Yehuda synagogue to mark the occasion, earlier in the day.

The stamp is already available for purchase from the Gibraltar Philatelic Bureau shop on Main Street and in Israel.

With the UK economy expecting to plunge into recession this year due to spiked inflation and weakened economic growth, consumer confidence is likely to be impacted. The storm has been brewing since Covid, and now with further supply shortages caused by the Russia- Ukraine war, markets have been hit hard.

With talk of another banking crisis and a repeat of the global economic downturns experienced in 2008, how will this affect British Gibraltar, given that the UK is now more than ever more joined at the hip? Gibraltar interest rates are directly linked to UK rates. Does this mean that our economy is likely to follow the UK’s doom and gloom predictions?

Can we learn from the past to try and predict the future? We believe we are different from the UK.

• Firstly, Gibraltar’s land mass is tiny with only 6.7 square kilometres of space. Pressures on land supply will always exist, even if land continues to be reclaimed. Retrieving land from the sea is expensive and takes time to build. This demand/ supply time lapse in turn creates housing stock pressures, which increases house prices.

• Gibraltar’s Government is approachable and flexible which means that we can adapt much quicker than larger economies.

Will Gibraltar weather the storms predicted to come?

• Gibraltar has a strong economy having ranked among the fastest growing economies in the World. Global uncertainties, such as Brexit and Covid seem to have fuelled our local property industry.

• Diversification in the local economy has supported growth, generating substantial wealth in the local economy. Entirely new market tiers have opened to attract the global wealthy. Gibraltar has the potential to fill in a gap in the Mediterranean Economic Area for High-Net-Worth Individuals )HNWIs(

Residential prices in Gibraltar now range from £3,200 per m2 at the lower end up to £10,000 per m2 for upper high-end stock. We predict market demand will continue to grow, but at a slower rate. The prime residential market fuelled by cash rich investment is likely not to be affected as much as the lower end of the markets which are reliant on bank finance.

Article written by Josiane Spencer who is a Chartered Surveyor with over 20 years of professional property experience. She is a director of her family multi practice firm, Richardsons Chartered Surveyors, who have been established in Gibraltar for 40 years.

1/4 College Lane Gibraltar / Tel 00350 200 79210 / Mobile 00350 56001205 www.richardsonsproperties.com

The GibraltarPass:

Winston Churchill once said “never waste a good crisis”- this is exactly how the idea for the Gibraltar Pass was born. With COVID19 crippling global tourism over the past year, Gibraltar’s tourism sector was also badly hit. But the pandemic gave the opportunity to stop, sit back and rethink the way tourism is managed in Gibraltar. The result has been a re-packaging and modernisation of the Gibraltar tourism experience through a digital platform that suits the needs of the 21st century, post-pandemic tourists- namely the Gibraltar Pass.

The Gibraltar Pass puts Gibraltar in line with top city destinations around the world like London, Paris, New York, Singapore and many more who offer a visitors City Pass. The concept of the Gibraltar Pass is a very simple one- visitors purchase the One Day pass online on www.GibraltarPass.com giving them access to the city’s top attractions and experiences, along with travel on public transport and many discounts at retailers and restaurants across the city.

Revolutionising the Rock’s Tourism

The Gibraltar Pass gives visitors the opportunity to enjoy the Rock’s biggest attractions including the Cable Car, St Michael’s Cave, World War 2 Tunnels, Great Siege Tunnels, the Skywalk, encounter the famous apes, minibus Rock tour, and much more all in a single transaction! Moreover, included in the Gibraltar Pass is travel on the Number 5 and Number 10 Buses taking visitors from the frontier to the town centre and the cable-car. On top of all that, the Gibraltar Pass provides visitors with exclusive discounts, promotions and special offers at a wide range of participating attractions, activities, restaurants, cafes and leading retailers and service providers across Gibraltar. Example of valuable discounts include 20% off Dolphin Adventure tours, £150 off at Gibraltar Boat Charter, and various offers at popular shops such as S.M Seruya, Netgear, Stagnetto’s and much more, thereby providing visitors with a great value-for-money product, and saving them hundreds of pounds.

But one of the most important aspects of the Gibraltar Pass has been the great emphasis that has been placed on giving visitors an enhanced

In fact, participating attractions, retailers and other businesses also benefit from significant marketing exposure at no cost; a digital platform to regularly communicate special offers and promotions at no cost; potential to earn commission from sales of the Gibraltar Pass by featuring links to the Gibraltar Pass website on their business website; and bespoke statistics on visitor numbers to their business.

On a national scale, the Gibraltar Pass benefits the whole of Gibraltar in a number of ways: For a start, it provides Gibraltar with a comprehensive digital tourism product, fitting the needs of the 21st century visitor.

Second, it is an environmentally friendly product as it is paperless but more importantly encourages visitors to leave their cars on the Spanish side and use public transport – as transport from and to the border is included in the Pass.

Third, it gives much exposure to a whole range of attractions and experiences that previously may have not been known to visitors such as the gin production facility, escape room, e-bike, diving experience, yacht charter, sailing experience and much more- so visitors see there much more to Gibraltar than the apes!

Lastly, the Gibraltar Pass will gather a huge amount of Big Data about the whereabouts of the visitors- which attractions they have been to, what shops they visited and how much time they spent in Gibraltar. This valuable data can then be used by Government and other stakeholders to further improve the Gibraltar tourism product.

So next time you or your guests visit Gibraltar, make sure to enjoy it with the GibraltarPass!

experience of Gibraltar. The idea here is to give visitors various perks and freebies to make their experience of Gibraltar much more enjoyable –after all it’s often the little things that make a big difference. Example include a free bottle of water for every Gibraltar Pass holder provided by Eroski, a free guidebook and map of Gibraltar, a free taste of Campion Gin provided by Spirit of the Rock and plenty of other freebies so that visitors would leave with a good taste in their mouths )pun intended!(

From the perspective of local businesses and attraction providers, the Gibraltar Pass is a complete blessing and a great channel to attract additional footfall and drive visitors to spend more time and more money in Gibraltar.

There is absolutely no cost at all for retailers/ restaurants/tourism operators and other businesses in Gibraltar to be part of this. The only thing they are being asked is to provide Gibraltar Pass holders with a special discount/ special offer or Freebie they will receive upon presenting their valid Gibraltar Pass.

Gibraltar: The meeting place of continents and seas

INTERVIEW WITH KEVIN BOSSINO

CEO of Gibraltar Tourism Board

1Tell us a bit about yourself… some background? How did you become CEO of the Gibraltar Tourism Board?

I have been in the hospitality/tourism industry all my career. I have worked in 9 different countries in Europe and Asia, the last 17 years being in Singapore where I worked for global hospitality group Accor, which has around 5,500 hotels, as Vice President Operations for the Singapore and south Malaysia regions.

I love Gibraltar and for the last couple of decades I have been traveling to GIB twice a year for summer and Christmas to spend time with family and friends.

Kevin Bossino has recently commenced his role as CEO of the Gibraltar Tourism Board in September 2022. Mr Bossino has worked in the tourism industry internationally having worked in nine different countries in Europe and Asia and being involved with various others in the Asia Pacific region. Gibrael Chamber has caught up with Kevin for a brief interview on his vision for Gibraltar’s tourism:

I love Gibraltar and for the last couple of decades I have been traveling to GIB twice a year for summer and Christmas to spend time with family and friends.

When I heard about the job opening I applied through the appointed Executive Search company in London and after going through a relatively long process, the last step of which was a panel interview in Gibraltar, my application was successful. For me personally, it came at the right time and professionally it is very satisfying to be in a position to be able steer tourism to the next level.

My role is to increase Gibraltar’s appeal as a tourist destination and to raise its profile internationally.

In the short term there are relatively easy wins in improving the visitor experience. Everyone I’ve spoken to is passionate about it and great work has been done in the past. However we need to push the envelope and with some coordination, cohesiveness and collaboration both between the public sector and private sector a lot can be achieved.

There is ambition for Gibraltar tourism and the future prospects are exciting. Event led tourism is one of the key areas and requires coordination with various sectors such as, sports, entertainment, weddings, niche MICE business etc.

Needless to say, the cruise and day trip business are all very important and we will continue to expand these areas too.

Gibraltar is unique and the experience is totally different to what you might have in Spain, in fact it could be be quite complementary. If you start looking at the one-of-a-kind offers that we have in Gibraltar, it is quite mesmerising that in such a small area we pack in such a bespoke variety of experiences. This is something that we will continue to improve upon and expand the available offering.

vibrant Jewish

Jewish visitor, such as 4

Gibraltar is a multicultural society, and it’s a marvel to see the joint mixed celebrations for each religious and cultural festivities. The vibrant Jewish community is an important one with a long history and this is certainly something that we could explore together with the Jewish community.

What does your role involve?

3What is your vision for Gibraltar’s tourism sector for the next few years? What are the key areas of improvements and how will these be achieved?

4Why should visitors spend the night in a hotel in Gibraltar and not in Spain?

5Gibraltar has a

community with great facilities for the

synagogues, kosher restaurants, kosher grocery stores and more…In recent years Spain has made the historic “Juderias” (Jewish quarters) a key tourist attraction in many Spanish cities. How can Gibraltar also showcase its rich history of Jewish life to attract more Jewish visitors?

Source: OECD. Gibraltar data is from the July 2022 Budget Speech.

GibraelGibraltarIsrael Chamber of Commerce

The Port of Gibraltar is the biggest shiprefuelling port in the Mediterranean Sea

Hosting the British branch of the "Meir Panim" association - MANNA UK, which helps needy families and Holocaust survivors in Israel.

Celebration of 120 years of Keren Kayemet Le’Israel (KKL)-Jewish National Fund (JNF) and JNF UK here in Gibraltar in a communal dinner gathering.

Gibrael Chairwoman on Gibraltar Mayor’s panel for International Women’s Day 2022

Israeli Consulate General from UK on official visit to Gibraltar

Gibrael Chairwoman speaks at Toronto female leadership conference

Gibrael Chairwoman, Ayelet Mamo Shay, meeting with the Israeli Ambassador to the UK- Mrs Tzipi Hotovely at the Israeli Embassy in London.

Hosting an art exhibition in byGibraltar Israeli artist Dan Kofler

Exploring opportunities on the Morocco-Gibraltar-Israel triangle, at a female delegation to Morocco arranged by Gibrael.

Gibraltar-Israel tourism links promoted by meeting arranged by Gibrael Chamber between the two tourism ministers at World Tourism Market Exhibition in London

Presentation to the Rotary Club about Gibrael Chamber

Gibrael Chairwoman was invited to provide a presentation on Gibraltar to Bizco - an Israeli business club and platform for businesses to expand internationally.

Representing Gibraltar in the KKL-JNFinternational conferenceleaders in Jerusalem

Gibrael President and Chairwoman were invited to give talks to Israeli tour groups visiting Gibraltar, about life in Gibraltar, the history of the local Jewish community and the general economy.

Gibrael President attended the Gibraltar Finance Week events in London, exploring opportunities on the Gibraltar-UK-Israel triangle.

GibraelGibraltarIsrael Chamber of Commerce

Representing Gibraltar at the annual Israeli Leaders in the Diaspora conference in Berlin