CIMA

The Cayman Islands Monetary Authority (CIMA) is the regulatory authority which supervises the operations of Cayman Island's registered insurance companies, banks and trust companies, mutual funds, and all financial service providers.

CIMA conducts regular inspections, in accordance with international guidelines, for all institutions under its control.

Following a two-week on-site assessment in October 2003 by the International Monetary Fund (IMF), the IMF stated that “the supervisory system benefits from a well-developed infrastructure with an internationally experienced and qualified workforce as well as experienced lawyers, accountants and auditors". The IMF added that “the overall compliance culture within Cayman is very strong, including the compliance culture relating to any Anti-Money Laundering obligations".

CIMA is among the founding members of the International Association of Currency Affairs (IACA) which was inaugurated in the United States in October 2004. The organization is non-profit, member-based to promote and protect currency issuing authorities, central banks, international security authorities, currency producers, users, handlers and suppliers worldwide.

The Cayman Islands Monetary Authority web site provides further information about the financial business in the Cayman Islands, including the latest on anti-money laundering legislation.