(CNS): Deputy Premier and Financial Services Minister André Ebanks spent last week in Washington DC and New York City attempting to win over the hearts and minds of US politicians and the media in relation to the Cayman Islands’ position as a financial centre. Ebanks was in the US for over a week, from 13 to 21 March, to listen to their views on global industry matters and to update them on Cayman’s business viability. The minister held various meetings to promote the jurisdiction, which is no longer on any significant grey or black lists.
“The solid week of meetings began with Cayman Finance’s industry roundtables, which, among other highlights, confirmed the Cayman Islands’ attractiveness as a top investment funds domicile,” he said.
Ebanks also held introductory meetings with DC-based journalists who cover international issues relevant to Cayman’s financial services framework.
“The journalists were genuinely interested in the Cayman Islands and open to understanding our financial services framework in its modern light. These forthright conversations laid the foundation for building more trusted relationships with international media,” he said. “For me, it reinforced the truth that overseas journalists, as well as those in Cayman, often have to digest large amounts of material very quickly and on deadline.
“So, during our introductory discussions, I gave them the ministry’s financial services timeline, which concisely displays the country’s regulatory, tax information sharing arrangements, and anti-money laundering milestones from the 1960s to present day. It’s a key visual that quite succinctly and compellingly conveys to international stakeholders the breadth and depth of our modern framework,” he added.
Ebanks said he provided US policymakers with the same timeline, demonstrating how the Cayman Islands backs its strong commercial offerings with an established record of effectively implementing global regulations that fight illicit crimes, including tax evasion and money laundering.
“In all our meetings throughout the week, I underscored government’s continuing commitment to global standards,” he said.” “[T]he Cayman Islands has already begun our preliminary preparations for FATF’s Fifth Round of evaluations. Official procedures to commence the assessment will take place in 2026, prior to the FATF onsite in 2027.”
The deputy premier also spoke about the Cayman Islands’ cooperation with the standard-setting OECD Global Forum on Transparency and Exchange of Information for Tax Purposes, which sets the international standard and mechanisms through which its members — now standing at 171 countries — exchange tax information with each other.
“This exchange of information helps tax and legal authorities around the world so that taxes are paid where they are due,” Ebanks explained.
Supporting him during the visit was CIG Deputy Representative for Financial Services to Europe Julie Campbell, who works in the Ministry for Financial Services and Commerce.
In addition to the reinsurance roundtables and media meetings, the Cayman delegation met with the Department of the Treasury, Global Affairs and Tax, Citigroup and Bank of America, US Senate and House of Representatives members, the Ways and Means Committee, and the Senate Banking and Finance committees.
The deputy premier has since returned to Cayman, where he is acting as the premier while Juliana O’Connor-Connolly is overseas on undisclosed government business. Neither the purpose of the premier’s trip nor where she has gone has been disclosed.
