Monetary Authority honours stakeholders

Launches scholarship, coin

The Cayman Islands Monetary Authority recently took time out to recognize its stakeholders and to launch a scholarship and collector’s coin set as part of its 10th anniversary celebrations.

Members of Cabinet and the Legislative Assembly, other government officials, and finance industry representatives attended CIMA’s Stakeholder Appreciation Reception at Pedro St. James on 16 November and witnessed the unveiling of the Authority’s 10th anniversary numismatic gold and silver coin issue by Governor Stuart Jack, stated a press release.

CIMA’s Chairman, Timothy Ridley, announced the creation of the CIMA Thomas Jefferson Memorial Scholarship, named in honour of the late Financial Secretary, who was Chairman of the Cayman Islands Currency Board, one of CIMA’s predecessor organizations, and who was subsequently Leader of Government Business.

The scholarship is valued at $25,000 per annum and will be open to Caymanians wishing to pursue bachelors or masters degree studies in finance, economics, business or accounting.

Making the announcement, Mr. Ridley noted that CIMA created the scholarship as a tangible demonstration of its commitment to the industry’s human resource development.

Leader of Government Business Kurt Tibbetts, remarked that the growth of the financial services industry and of CIMA had created opportunities for the development of local professionals and that while focus has been placed on the international stature of the industry, he applauded its value to the local community.

‘Cayman’s financial industry is part of the economic lifeblood that flows through our islands bringing stable employment and a good standard of living, support for entrepreneurs and investment opportunities,’ Mr. Tibbetts stated.

Financial Secretary Kenneth Jefferson, also congratulated CIMA for the manner in which it had discharged its functions during its 10 years. The private sector, he said, had driven the growth and stability of the sector but CIMA was a critical part of the matrix.

Another highlight of the evening was the presentation of citations and awards by Managing Director Cindy Scotland to retired Head of Insurance Mary-Lou Gallegos and, posthumously, to Nick Duggan, a leader in the banking sector, for their contributions to the development of the financial industry and of CIMA.

Former and current directors of the Authority, appointed by Government from both the public and private sectors, were also honoured during the evening.

Comments are closed.