in the Cayman Islands
The Cayman Islands are world renowned as a major international banking centre. Cayman Islands banks are bound by a strict Know-Your-Customer framework and regulated by the Cayman Islands Monetary Authority in accordance with the Basel Core principles for Effective Banking Supervision.
The jurisdiction has received accolades from the IMF, the FATF and the CFATF for the quality of its regulatory regimen. The Cayman Islands, through the Cayman Islands Monetary Authority, has membership in the Offshore Group of Banking Supervisors (OGBS), the Caribbean Group of Banking Supervisors (CGBS), and the Association of Supervisors of Banks of the Americas (ASBA), all of which give the jurisdiction important access to the Basel Committee.
The Cayman Islands offers three different types of banking licences, all of which are issued under the Banks & Trust Companies Law.