CIMA is the sole authority able to issue and redeem the Cayman Islands currency (CI currency), arrange for the printing and minting of currency banknotes and coins and restrict the use and reproduction of the CI currency and its image.
CIMA has introduced a policy, as outlined in these guidelines, for the purposes of ensuring compliance with the provisions in section 6(1)(a) and Part III of the Monetary Authority Act and Part XI of the Penal Code.
CIMA’s policy on the use and reproduction of the CI currency and its image restricts the reproduction and use of the CI currency and its image to ensure that: (i) there is compliance with the law; (ii) reproductions of the currency and use of its image are not used to defraud the public; and (iii) the Queen’s portrait is not distorted, improperly displayed or shown in offensive surroundings.
For the purposes of complying with the provisions under the Monetary Authority Act, CIMA’s policy restricts reproduction of Cayman Islands banknotes and their image. Accordingly, the reproduction of Cayman Islands banknotes requires the written consent of CIMA.
CIMA does not allow reproduction of an image of a Cayman Islands’ banknotes on articles for sale (which includes but is not limited to items such as mugs, ashtrays, tea towels, etc.)
When contemplating any reproduction, regard will be given to the context in which the notes are reproduced, especially if the Queen’s portrait is distorted, improperly displayed or shown in offensive surroundings.
CIMA also holds the copyright for all Cayman Islands banknotes. Any encroachment on any of these copyrights may also result in civil liability.
Procedure to Obtain Permission
When contemplating any reproduction, regard will be given to the context in which the banknotes are reproduced. Advertisers, publishers, and others wishing to reproduce an image of a Cayman Islands’ currency note should, before taking steps to reproduce such images, contact CIMA to discuss their proposal. Also see details regarding the Reproduction and Forgery of a Cayman Islands Banknote & Defacing and Mutilation of the Currency below.
Criteria for Use and Reproduction of Banknote Images
For advertisements, etc. incorporating reproductions of Cayman Islands’ banknotes, CIMA’s permission is necessary and designs are normally expected to meet the following criteria:-
Designs incorporating reproductions of notes for educational purposes including but not limited to, educational books and training manuals, which must also be approved by CIMA, should satisfy the same size criteria as those for advertisements but may be shown flat to the camera provided that they have the word “specimen” in solid black capitals across them.
These criteria do not apply to reproductions of notes for educational purposes on film, television or online; such reproductions may be made without specific application being made to CIMA.
If it is proposed to include reproductions in a film, television or online advertisement, CIMA must be consulted, as its permission is required.
CIMA does not permit physical reproductions of Cayman Islands’ coins in metal or other material because it needs to ensure that reproductions cannot be used to defraud the public. CIMA also restricts the context in which its coins are photographically reproduced in order to ensure and that the Queen’s portrait is not distorted, improperly displayed or show in offensive surroundings.
Section 300 of the Penal Code defines a “Counterfeit Coin” as any coin not genuine but resembling or apparently intended to resemble or pass for a genuine coin and includes any genuine coin prepared or altered so as to pass for a coin of another denomination. The Authority will apply this definition when considering whether a physical reproduction of a coin is indeed a counterfeit coin.
CIMA does not prohibit the use of Cayman Islands’ coins in articles for sale if, and only if, the coins or the appearance of the coins are not changed/altered (e.g. dipping of coins in gold, making holes in the coins, etc) in anyway.
It is CIMA’s policy that the photographic reproduction of coins for advertisements (including but not limited to print, online, film or television) requires the prior written consent of CIMA.
Procedure to Obtain Permission
Advertisers, publishers, and others wishing to photographically reproduce a Cayman Islands’ coin should, before taking steps to reproduce such coins, contact CIMA to discuss their proposal. Also see details regarding the Reproduction and Forgery of a Cayman Islands Banknote & Defacing and Mutilation of the Currency below.
For the purposes of ensuring compliance with the provisions under section 311 of the Penal Code, CIMA will pursue and use its powers under the Monetary Authority Act to ensure that individuals, vendors, merchants, intermediaries and all those that sell, offer or expose for sale any article which bears a design in imitation of any currency or bank note refrain from such activity. For the avoidance of doubt, CIMA will pursue and if necessary seek the prosecution of any individual or company involved in a contravention of section 311 of the Penal Code, which includes, but is not limited to, online retailers, websites or any other forum allowing others to offer an illegal item for sale.
Accordingly, under section 311 of the Penal Code, any person or company who, without lawful authority, sells, offers or exposes for sale any article which bears a design in imitation of any currency, bank note or coin in current use in the Islands or elsewhere is guilty of an offence and liable to imprisonment for up to six months and/or a fine.
The reproduction of Cayman Islands banknote or its image requires the written consent of CIMA in the manner outlined above.
Any person who without lawful authority or excuse, the proof of which is on him, makes, uses or knowingly has in his custody or possession any paper or implements of forgery is guilty of an offence contrary to section 303 of the Penal Code and liable to imprisonment for up to seven years.
Any person who forges any bank or currency note is guilty of an offence contrary to section 286(2) of the Penal Code and liable to imprisonment for life in addition to being made the subject of a forfeiture order.
In accordance with section 31 of the Monetary Authority Act it is an offence to deface, mutilate or perforate any currency note or coin which, is legal tender in the Cayman Islands. If found guilty of this offence a person is liable on summary conviction to a fine of one thousand dollars and to imprisonment for three months.
All correspondence regarding the reproduction of notes and coins should be addressed to the Head of Currency Division via post or email.