Under the Monetary Authority Act, the Cayman Islands Monetary Authority (CIMA) began operations on 1 January 1997 and was created by the Cayman Islands Government to regulate and supervise the Cayman Islands’ financial services industry.
It is also responsible for enhancing Cayman’s ability to maintain a well-regulated financial services regime and monetary stability. CIMA was created from the merger of the Financial Services Supervision Department of the Cayman Islands Government and the Cayman Islands Currency Board and assumed the former responsibilities, duties and activities of these two bodies.
Since then, CIMA has taken on additional responsibilities and, through ongoing legislative changes, has been given more clearly defined functions, duties, powers and obligations, thus enhancing our ability to meet international standards as well as ensuring our accountability and transparency.
To protect and enhance the integrity of the financial services industry of the Cayman Islands.
A thriving, innovative and well-regulated Cayman Islands financial services system and currency that meets applicable international standards and provides value to stakeholders.