CIMA celebrates its 20th anniversary


The Cayman Islands Monetary Authority (CIMA) celebrated its 20th anniversary in January with a series of events while its managing director praised the work of the body over that period in helping build Cayman’s thriving financial services industry.

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.

Since then, 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 Cindy Scotland said: “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 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.

The Authority will also host a Fun Day for all staff followed by a charity 5K Walk/10K Run event which will be held on May 21, 2017.

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.”

CIMA, Cayman Islands, Cindy Scotland

Cayman Funds