The Cayman Islands Monetary Authority (CIMA) is the primary financial services regulator of the Cayman Islands and supervises its currency board.
The CIMA manages the Cayman Islands currency, regulates and supervises financial services, provides assistance to overseas regulatory authorities and advises the Cayman Islands government on financial-services regulatory matters.
It is a corporation created pursuant to the Cayman Islands Monetary Authority Law (2013 Revision).Cayman Islands Monetary Authority Law (Revised), section 5(1): "There is established an Authority to be called the Cayman Islands Monetary Authority which shall be a body corporate and shall have perpetual succession and a common seal and may sue and be sued in its corporate name."
History
The Monetary Authority replaced the Cayman Islands Currency Board, which was established by the Currency Law of 1971 and started operations on . The Currency Board allowed the Cayman Islands to have their own currency, with the Cayman Islands dollar replacing the Jamaican dollar that had been previously in use. The Currency Board was reorganized as CIMA in 1996.
Regulatory framework Banks and lenders Offshore banks Funds and segregated portfolio companies Payment processing services Credit unions
See also Cayman Islands dollar Economy of the Cayman Islands Central banks and currencies of the Caribbean Currencies of the British West Indies Securities Commission List of central banks List of financial supervisory authorities by country
References
External links Cayman Islands Monetary Authority