A Legacy of Leadership in International Banking
Currently, there are just under 300 banks licensed under the Banks & Trust Companies Law (2003 Revision), including 40 of the world’s largest 50 banks. The majority of these banks are branches or subsidiaries of established international financial institutions conducting business in the international markets.
Cayman offers a full range of banking products for local and international clients. Other services readily available include letters of credit, foreign exchange, guarantees, safe custody, commercial loans, and mortgages. The banking sector is one of the largest employers on the Islands, and this status ensures an experienced work force well able to respond to clients’ requirements.
By law and by 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.
Last Updated: 2007-02-15