The information below provides details about the Cayman Islands Banking system, and details on opening Cayman Islands offshore bank account. You will find details of the governing body, as well as a list of local and international banks that operate in the Cayman Islands.
To open a Cayman Islands bank account, select from the bank account types listed below:
Contact EFSAG if you require further information on Cayman Islands banking or offshore banking in another country.
The Cayman Islands Monetary Authority
The Cayman Islands Monetary Authority is the regulated body acting the role of the central bank. The authority is responsible for issuing the Caymanian Dollar and holds sufficient assets (i.e. US Treasuries) to back all the local notes and coinage in circulation.
The principal objectives of the Authority, as stated in the Law, are:
– to issue and redeem currency notes and coins; and to manage the Currency Reserve;
– to promote and maintain monetary stability;
– to promote and maintain a sound financial system;
– to advise Government on banking and monetary matters;
– to provide assistance to overseas regulatory authorities; and
In March 2003 the Authority became operationally independent under the Monetary Authority Law (2003 Revision). Independence significantly enhanced the ability of the Authority to meet international standards of supervising, accountability and transparency, and has more clearly defined its functions, duties, powers and obligations.
Financial Institutions Operating
Some of the major Cayman Islands banking institutions currently operating:
Banco Comercial Portugues, S.A.
Bank of America, National Association
Butterfield Bank (Cayman) Limited
Caledonian Bank & Trust Limited
Cayman National Bank Ltd.
Coutts (Cayman) Limited
Deutsche Bank (Cayman) Limited
Dresdner Bank Lateinamerika Aktiengesellschaft
Fidelity Bank (Cayman) Limited
First Caribbean International Finance Corporation
Fortis Bank (Cayman) Limited
HSBC Financial Services (Cayman) Limited
Merrill Lynch Bank and Trust Company (Cayman) Limited
Morval Bank & Trust Cayman Limited
Royal Bank of Canada
Royal Bank of Canada Trust Company (Cayman) Limited
Scotiabank & Trust (Cayman) Ltd
UBS Fund Services (Cayman) Ltd