Cayman Islands Monetary Authority
The Cayman Islands Monetary Authority was established in 1996 as a body corporate under The Monetary Authority Law, and was brought into existence on 1st January 1997. It is the amalgamation of the former Currency Board and Financial Services Supervision Department. The mission of the Authority is to:
- Regulate and supervise the financial services industry in order to maintain a first class financial system;
- Safeguard the interests of depositors, trust beneficiaries, policyholders and mutual fund investors from undue loss;
- Contribute to public confidence in our financial system by promoting sound corporate governance, prudent business practices and compliance with laws and regulations;
- Promote and maintain monetary stability and preserve the value and integrity of the Cayman Islands currency.
The Authority endeavours to fulfil its regulatory and supervisory mandate having due regard to international standards and the need for operational freedom by financial services providers and for the maintenance of a dynamic and competitive industry. It values a close and harmonious working relationship with all segments of the industry and is committed to maintaining the highest standards and skill in its staff that responds expeditiously and effectively to the challenges posed by an ever-changing financial environment.
Last Updated: 2005-06-07