Securitisation and Structured Financing in the Cayman Islands

Forty seven of the world’s leading fifty banks have branch or subsidiary operations all of which are regulated in accordance with the Basle Convention. The banking industry’s aggregate bookings and deposits as at 31st December 1998 are in excess of US$600 billion. This places the Cayman Islands as the seventh largest banking centre in the world. Under the mutual funds legislation there are in excess of 2000 regulated companies, unit trusts and limited partnerships with an aggregate dollar investment for both open and closed ended funds estimated at US$200 billion placing the Cayman Islands second in the list of offshore jurisdictions behind Luxembourg. All the recognised international service providers have established operations in the Cayman Islands.