Cayman Islands Central Bank Statement

Author: IFLR Correspondent | Published: 24 Sep 2019

Renowned as the leading domicile for hedge funds and ranked second worldwide for captive insurance, the Cayman Islands has maintained its status as a top financial centre. As of December 31 2018, the Cayman Islands was ranked 12th internationally in terms of cross-border assets and liabilities, compared to 9th in 2017. Since the start of the global financial crisis in 2007, licensed banks in the Cayman Islands have been reporting a decline in cross-border assets and liabilities.

A steady decline in licensed banks has occurred in recent years, in line with international trends, as banks continue to adapt their business models and optimise structures to increase revenues and efficiencies. The number of banks licensed in...