Cayman is on the right path

Grumpy the Cat writes: It sounds like many of the posters on here do not understand that there is a world outside of the Cayman Islands. There are some important events around some funky law firm in Panama and some “independent” journalist organisation that has galvanized much of what in the past was just conjecture.

You should realise that Cayman is a minor player in world affairs. Even having a seat at the table is a big deal, and by being there is a testament to the hard work of private industry and successive governments over the last 15 years. How we managed to muddle through and get there is sometimes amazing to consider.

You should also understand that if you wish to undo all the effort of changing from a haven for pirates and crooks to a legitimate international financial centre keep on criticising those with the difficult job of sitting at the table negotiating on your behalf.

We have at this time a great opportunity. Many of the crooks are gone and moved on to those nations that do not have a seat at the table or have chosen not to try and take one. We have the attention, or can use the attention, around the Panama Papers to tell the truth of the offshore industry in Cayman, that our laws and practice are better than some major economies, that it is the laws of those major economies that are lacking.

What are we afraid of? Do we want crooks using our businesses to launder money or do we want legitimate capital here?

Legitimate business is what we want and need here for a sustainable and growing industry that creates employment and, if you look around, a very high standard of living for a large number of Caymanians.

This comment was posted in response to Cayman to extend BO info exchange and repeal secrecy law

Category: Business Viewpoint, Finance, Financial Services