(Grand Cayman – Friday, 24 February 2017) 1 January 2017 marked the 20th Anniversary for the Cayman Islands Monetary Authority (CIMA). In January 1997, the Authority began operations as an amalgamation of the Financial Services Supervision Department of the Cayman Islands Government and the Cayman Islands Currency Board. Since then, the Authority has made significant achievements, and a number of events will commemorate this occasion.
Central to the success of the financial services industry of the Cayman Islands, the Authority has dedicated itself in providing excellent quality service to its licensees for the past 20 years.
Today, the Cayman Islands continue to be home to a thriving financial services industry. It is also the leading jurisdiction for hedge funds, the second largest domicile for captive operations, and remains a top international location for the provision of trust services.
Managing Director, Mrs. Cindy Scotland stated, “Our success is due to the hard work and dedication of our employees, management team and the Board of Directors. The retention of the level of expertise that exists throughout the entire organisation is key to our continued achievements.”
In October 2016, the Authority organised an in-house commemorative coin design competition whereby staff members were asked to create a design which represented the true spirit of CIMA. Following an extensive deliberation amongst the selection committee, the named winner was Chief Analyst of the Compliance Division, Mr. Gordon Panton. The design features a compass which reflects the nautical theme of the Authority’s logo. It also signifies the Authority’s role in ‘charting the course’ for the financial sector. Also included in the design are the three islands, while the reverse side incorporates the Coat of Arms. In recognition of his unique design, Mr. Panton will receive a complimentary commemorative coin, and he will also be credited on the Certificate of Authenticity. Limited copies of the coin will be on sale in the near future.
The Authority will also host a Fun Day for all staff to enjoy followed by a charity 5K Walk/10K Run event which will be held on Sunday, 21 May 2017. To register, visit www.caymanactive.com.
Mrs. Scotland added, “This 20-year milestone is also an opportunity to reflect on where the Authority started, what we have achieved, and our plans for the future. With that said, I look forward to celebrating many more years of success, not only for the betterment of the Authority but for our beloved Cayman Islands.”