The Hon Albert Isola MP
Minister for Commerce
HM Government of Gibraltar
The Hon Albert Isola MP is Gibraltar’s Minister for Commerce with the primary responsibility of raising Gibraltar’s profile as an established onshore, mainstream, well-regulated financial services centre and its important online Gaming sector.
An experienced speaker, Mr Isola has delivered keynote addresses at major financial services seminars and conferences in various countries. He is also responsible for financial services policy, product development, and responding to international initiatives such as international tax compliance. As such and supported by the Finance Centre Director and team, he works closely with the financial services regulator, the Financial Services Commission. Particularly noteworthy is his leading role in the establishment of the Gibraltar International Bank, a first for Gibraltar as a homegrown full-service credit institution dedicating itself to retail banking.
Albert’s vision saw the creation of the Cryptocurrency (now DLT) Working Group in 2014. After a series of public consultations and in depth research, the creation and delivery of the DLT Regulatory Framework took place in January 2018. DLT firms now require a license to operate in Gibraltar, the first framework of its kind anywhere. The first licenses are due in August 2018 Further initiatives including token sale regulations and a framework for cryptocurrency funds are also in development. A number of market leading global firms are processing license applications.
Mr Isola also has Ministerial responsibility for the Online Gaming sector that has international repute as the worlds premier online gaming jurisdiction. Working closely with the regulator and the industry Mr Isola is currently driving through the Online Gaming review that will see its legislative and regulatory framework reviewed and improved and to maintain its innovative advantage.
Albert was appointed Minister for Commerce following a Government re-shuffle in October 2016. He has been a member of the GSLP/Liberal Administration since his by-election win for Gibraltar’s governing parties, the GSLP/Liberal Alliance, on 4 July 2013. Mr Isola had previously been a GSLP member of the Opposition in the then ‘House of Assembly’ (‘Parliament’ under the new constitution) from 1996 to 2000. Prior to re-entering Parliament, Albert had been a Partner at a major Gibraltar international law firm from 1985 to 2013.
During his long legal career, Albert gained extensive experience in all aspects of property acquisition, development and financing as well as financial services. He also regularly acted as an adviser to the Financial Services Commission.
Albert was educated at Stonyhurst College, Lancashire (1973 to 1980) and read Law at Kingston University (1980 to 1983).