Cayman gets guest seat on FATF regional body
(CNS): The Cayman Islands has become one of the first countries to secure a seat at the table of a new regional body created by the Financial Action Task Force (FATF). Cayman and Senegal have been appointed as guest members under a new Regional Bodies Guest Initiative that will invite under-represented jurisdictions from the global network to take part in the organisation’s plenary sessions for one year.
The new initiative, announced in Paris on Wednesday, was created by the new FATF president, Elisa de Anda Madrazo, and will see Cayman directly participate in meetings and working groups for the twelve-month stint. The objective is to increase the voice of countries from regions that are under-represented at the FATF membership level and enrich FATF policymaking and risk understanding through sharing regional perspectives, officials stated in a press release.
“This is a profound moment for the Cayman Islands as we have been invited to participate in FATF proceedings at the behest of the new FATF President,” said Financial Service Minister André Ebanks.
“For the Cayman Islands to have its own seat at the FATF table and be recognised as a country capable of having a presence alongside the likes of G20 countries speaks volumes of our current international standing. It also speaks volumes of the considerable steps taken by the FATF towards inclusivity and diversity. We express sincere gratitude to FATF President de Anda,” he added.
Ebanks is in Paris as part of a Cayman Islands Government contingent that includes Attorney General Samuel Bulgin; Head of the Anti-Money Laundering Unit within his Chambers, Francis Arana; Cayman Islands Monetary Authority Managing Director Cindy Scotland; Head of CIMA’s Anti-Money Laundering Division, Judiann Myles; and Director of the Regulatory Affairs Unit within the Ministry of Financial Services Andrea Proctor.
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Category: Business, Financial Services
Don’t get too comfy! Be vacated again come the next round!
Once they give up our sovereignty and fully implement ESG into our financial system, surrendering control to the EU and UN, I’m sure they’ll be invited to join all those organizations.
How many bag carrier are on a nice shopping trip to Paris I wonder
Pointless exercise, the FATF has already moved the goal posts, again, we’ll be back on the grey list shortly, but this time will be able to view from our ring side seat
Nice….
Job 1. Need to start an investigation into the real estate activity over the past few years. Where is the money coming from to put up all these large scale apartment developments and who is buying them?
Andre Ebanks is the next Premier and would be well deserved. We’ve tried the Pantons, Hews and McTaggart we could do better. He would definitely implement sound policies and start the conversation about establishing a Sovereign Wealth Fund.
He’s worth a try, definitely the brightest of the bunch. He need separate himself from the trash like JuJu, Mac, Seymour and Saunders now otherwise he’ll be forever contaminated.
waffle,,,can anyone translate into plain english what this is all about?
At least CNS have published a photo of One Caymanian we can respect and not be ashamed of when representing us overseas.
Maybe you just stick with Cayman Marl Road.
We get to have a lil sit down at the domino table and play a few games while the adults drink because they think we’re big kids now.
This lot like blacklisting us. Ask Sandy when she gets back. It’s good for Cayman albeit 17 other MLAs are a huge liability to our credibility and status as a leading financial services centre so until we completely clean up our act we’ll always be at risk of blacklisting again. And financial services is our golden goose, where most of Caymans money comes from. Andre has been doing sterling work here and should be applauded, especially considering the difficulties with our of control spending and infighting going on right here at home.