The Cayman Islands Monetary Authority is warning the public to refrain from using the country’s currency in advertising.
‘With today’s technology and our troubling economic times, CIMA is committed to making sure that Cayman’s currency is not tampered with or used to defraud consumers,’ explains Head of Currency, Ms Deborah Ebanks. ‘We ask all businesses interested in promoting their services using CI currency to please follow the guidelines for reproducing the images found on our website.’
Use of Cayman currency is protected under section 31 of the Monetary Authority Law, which reads: ‘A person who, without lawful authority or excuse (the proof whereof shall be on the person accused), defaces, mutilates or perforates any currency note or coin which under this Law is made legal tender in the Islands is guilty of an offence and liable on summary conviction to a fine of one thousand dollars and to imprisonment for 3 months.
The reason is two-fold; the restriction ensures there is no chance of illegal reproduction and that the Queen’s portrait is not improperly displayed.
Any photo reproduction of coins for advertisements, etc. requires the written consent of the Monetary Authority.
For more information businesses should review the guidelines posted on the Authority’s website at: www.cimoney.com.ky in the Currency section under Reproduction Guidelines or by calling 949-7089.