What is the purpose of the cayman islands monetary authority?

Established in the year 1996, the Cayman Islands Monetary Authority is a corporate body which obeys the Monetary Authority Law. It is the combination of the previous Currency Board and Financial Services Supervision Department. The task of the Authority is as the following:

Control and administer the financial services industry in order to maintain a first class financial system: This is perhaps the principal function of the Cayman Island Monetary Authority.

Defend the cause of depositors, trust beneficiaries, policyholders and mutual fund investors from excessive loss: The cause of the depositors is of primary importance. Therefore, it is of prior importance.

Increase the public assurance of the financial system by creating the best corporate governance, prudent business practices and fulfillment of the laws and regulations: If the company cannot assure the public, then it cannot gain the faith. Faith of the public brings in more business. Therefore gaining public support is of immense importance.

Endorse and uphold monetary constancy and protect the worth and integrity of the Cayman Islands currency: There is a monetary support and constancy at Cayman Islands Monetary Authority and this distinguishes the company from the rest.

The services provided by Cayman Islands Monetary Authority are of international standard and for the dynamic and competitive market it is a best friend for anyone.

[tags]CIMA,cayman islands monetary authority,Cayman Islands financial sector,Cayman islands off shore banking[/tags]