BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Cayman Islands Monetary Authority Cayman Islands Monetary Authority The Cayman Islands Monetary Authority began operations on 1 January 1997. It was established as a body corporate under the Monetary Authority Law, which was brought into force on that date. The Authority was created from the merger of the Financial Services Supervision Department of the Cayman Islands Government and the Cayman Islands Currency Board. The former responsibilities, duties and activities of these two bodies now fall to CIMA.   As the primary financial services regulator, the mission of the Cayman Islands Monetary Authority is to enhance the economic wealth and reputation of the Cayman Islands by fostering a thriving and growing, competitive, and internationally recognised financial services industry, through appropriate, responsive, cost-effective and efficient supervision and a stable currency. The Cayman Islands Monetary Authority has four principal functions: Monetary - The issue and redemption of Cayman Islands currency and the management of currency reserves. Regulatory - The regulation and supervision of financial services, the monitoring of compliance with money laundering regulations, the issuance of a regulatory handbook on policies and procedures and the issuance of rules and statements of principle and guidance. Cooperative - The provision of assistance to overseas regulatory authorities, including the execution of memoranda of understanding to assist with consolidated supervision. Advisory - The provision of advice to the Government on monetary, regulatory and cooperative matters. Cayman Islands Monetary Authority HQ Address: 80e Shedden Road Elizabethan Square Grand Cayman KY1 - 1001 Cayman Islands Telephone: + 345 244-1591 Facsimile: + 345 946-4230 Website: www.cimoney.com.ky Swift Code: CIMGKYKY Currency: Cayman Islands dollar Banking Hours: Monday - Friday : 8.30am - 5.00pm   CIMA's Board of Directors is responsible for the policies and general administration of the affairs and business of the Authority. The directors are appointed by the Governor in Cabinet of the Cayman Islands. However, in the case of the Managing Director (who is an ex officio director), this appointment is only made after consultation with the board. DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved