Regulator – The Cayman Islands Monetary Authority 2018-07-08T02:42:23+00:00

Regulator – The Cayman Islands Monetary Authority

The Cayman Islands Monetary Authority primarily provides four functions:

  • Currency: Issue and redemption for reserve and management of currency and foreign currency in the Cayman Islands.

  • Supervision: Financial Supervision and management, the A&AS Division monitors the compliance with anti-money laundering regulations, issues regulation policies and procedures manuals, and controls the issuance of principles, guidelines, and statements.

  • Cooperation: Providing assistance from overseas regulatory agencies, including assisting in the implementation of MOUs with solid regulatory cooperation.

  • Inquiries: Provide advice to the government on currency, regulations, and cooperation matters.

Where the obligation of the financial manager is to exercise its power, and the requirements are:

  • Maintain the best economic interests of the Cayman Islands.

  • Improve and sustain the healthy financial system of the Cayman Islands.

  • Understand the nature of the financial market and to allow the competitiveness of suppliers and consumers according to the proper and relevant international standards.

  • Understand the responsibilities and limitations it has undertaken equals to the anticipated benefits.

  • Understand the promotion and innovation of financial service business are encouraged.

  • Provides transparency and applies fair and just on all matters.

  • Use its resources in the most efficient and economical methods.

  • Take exceptional corporate governance as recognized principles.

  • Put efforts on improving and enhance market confidence, and protect consumers as well as the reputation of the Cayman Islands as the international financial center.

  • Reduce the possibilities of using financial services to carry out money laundering or commit other crimes.