Cayman Islands Banks

The Cayman Islands is recognized as the fifth largest banking centre in the world with an estimated amount of US$ 1.7 trillion in banking liabilities. It is also currently serving as the finance center to 395 banks and trust companies as of first quarter 2011. Sixteen of the banks are licensed to run and operate banking activities with both domestic or Cayman Islands-based and international clients. The remaining banks, on the other hand, are licensed to operate on an international scale but with limited domestic activities.

Security -

The popularity of the Cayman Islands as a banking and finance center is mainly due to government protection and policies. There are also several other features that allowed the islands to attract and retain both individual and corporate or institutional bank clienteles. One such obvious feature is the political and economic stability of the Cayman Islands. The Cayman Islands also has a business-oriented government that pays close attention to the banking and finance industries. The country's tried and tested legal regime and efficient regulatory framework suit international banking standards while, at the same time, not being cost-prohibitive.

Customer Service Excellence

- Cayman Islands banks benefit from financial infrastructure consisting of professional service providers that have impressive and substantial experience and expertise in terms of professionalism, work ethics, and commitment. What actually attracts clients to Cayman Islands banks is that the country does not impose any regulation that could be burdensome or tedious for their clients and instead, implements a user-friendly legal regime that pushes for faster, more cost-efficient and hassle-free transactions.

Global Recognition
- Banks in the Cayman Islands are widely recognized due to their excellent products and services particularly across three specific aspects of institutional business. These three aspects are investment funds, captive insurance, and structured finance.

Financial Services - In terms of investment funds, Cayman Island banks are specializing in hedge funds and other alternative investment funds like those concerning private equity and real estate. One key feature that has made Cayman Islands banks different from those in other jurisdictions is that they are consistent in observing a balanced regulatory framework that attributes the purchasers of hedge funds as highly significant investors. The Cayman Islands banking industry tends to attract fund managers because it specializes in alternative investments and proactively lobbies for the absence of unnecessary licensing provisions. It is also more flexible in terms of investment goals, risk factors, service providers, and other commercial issues and concerns.

Cayman Islands banks are also considered to be the best in captive insurance especially on writing hospital and medical malpractice covers. They can devise schemes that suit any type of captive insurance.

Relying on the experience and expertise of their personnel, Cayman Islands banks offer services and products that truly meet the demands and needs of their clients. There are also modern-day straightforward laws and user-friendly regulations that advocate low minimum capitalization requirements.

Structured finance at Cayman Islands banks is also more efficient. They can offer issuers more cost-efficient and sufficient funding that is coupled with more flexible balance sheets. Investors are given the options of several fixed income investment alternatives that come with high credit ratings and more stable cash flows to protect the issuer from bankruptcy. Banks in the Cayman Islands are also recognized for their structured debt transactions.