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Banking

Currently, there are just under 250 banks licensed under the Banks & Trust Companies Law (2007 Revision), including branches of 40 of the world’s 50 largest banks.

Cayman offers a full range of banking products for local and international clients and other services including letters of credit, foreign exchange, guarantees, safe custody, commercial loans, and mortgages. The banking sector is one of the most prominent employers on the Islands, with a highly skilled workforce well able to respond to clients’ requirements.

By law and long-standing practice, banks adhere to “know your client” rules, and the Cayman Islands maintains a robust anti-money laundering regime. Regulatory oversight of the banking industry is conducted within the Basel Core Principles, and the Banks and Trust Companies Law covers both domestic and international banking business.

The supporting infrastructure in the Cayman Islands is modern and sophisticated. Real-time online access to the world’s major financial markets meets the needs of clients who demand cross-border services equal to those in New York or London.