Monetary Authority Act (2020 Revision)
Summary
The law establishing the Cayman Islands Monetary Authority (CIMA) and defining its regulatory, monetary, and advisory functions.
Sources
Monetary_Authority_Act_(2020_Revision).pdf
Last Updated
2026-04-27
This Act establishes cima as the primary financial regulator in the Cayman Islands. It outlines CIMA's four principal functions: monetary, regulatory, co-operative, and advisory.
CIMA has the sole right to issue Cayman Islands currency and manages the Currency Reserve. Crucially, the Act grants CIMA the power to impose administrative-fines for breaches of prescribed regulatory laws and anti-money laundering regulations. These fines can be significant, particularly for serious or very serious breaches by corporate bodies.