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Cayman Welcomes Top Banking IFC Recognition

by Jason Gorringe, Lowtax.net, London
01 October, 2015

The Cayman Islands is perceived to be the world's top specialized financial center for banking, according to the findings of an annual survey by the Financial Times's Banker magazine.

This is the seventh consecutive year that the Cayman Islands has maintained the top spot in the survey. Jude Scott, CEO of Cayman Finance, the island's financial services promotional agency, welcomed the findings, stating: "This unprecedented dominance in banking confirms our role as a global facilitator of the allocation of investment capital and financing around the world through excellence, innovation, and balance in global financial market products and services."

"The Banker Survey is a prestigious global survey and it is indeed encouraging to see that our efforts together as a jurisdiction are achieving consistently high results in terms of global recognition. With over 12 points between us and the next ranked jurisdiction, it is clear that we continue to demonstrate the excellence in client service that maintains our position as the leading specialized financial center," Scott added.

Hailing the strong working relationship between the Cayman Islands Government, the Cayman Islands Monetary Authority, the judiciary, and the financial services industry as a key factor in Cayman's success, Scott said that these organizations recognize the jurisdiction's important role in the global financial market and have continually demonstrated a commitment to ensuring the strength of the banking sector.

Second, third, and fourth place went to Jersey, Guernsey, and the Bahamas, respectively.

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