Cayman tops in specialised banking

FRIDAY, OCT. 26: For the fourth consecutive year the Cayman Islands has received the accolade as top jurisdiction as a Specialised Finance Centre in The Banker magazine’s 2012 survey of international financial centres.

Cayman Finance Chairman Richard Coles  said in a press release: “The Cayman Islands has once again proved itself globally as a leader in the field of specialised finance.

 “Being awarded the highest ranking by The Banker once is an achievement in itself; four times in a row means Cayman has set the bar extremely high for all other jurisdictions to follow and Cayman sets itself far above its competitors at the same time.”

In the 2012 survey Cayman was allocated a score of 49.909, while second place Guernsey was awarded 37.056 and the Bahamas were in close third, receiving 36.332.

Bermuda had a score of 24.907, which was an increase from 19.68 in 2011. 

Mr Coles said that over the years the Cayman Islands has built a solid reputation for high quality professionalism.

The ranking of international financial centres is based on data from a range of sources, including financial markets indicators, economic potential and business environment factors.