Business in brief

CFA curriculum available at library 

The Chartered Financial Analyst Institute has offered a complimentary set of the CFA curriculum by donating the books to the public library for accessibility to all residents in the Cayman Islands.  

The curriculum spans all three levels of the study program that leads to the CFA certification.  

Minister for Education, Employment and Gender Affairs Tara Rivers said the material is a valuable resource for students seeking the CFA certification.  

“I encourage all persons interested or already working in the financial sector to visit the George Town Library to review the course content and see if the CFA designation is something they might be interested in pursuing,” she said. 

President of the local society Laren Gillespie said, “In addition to being a reference for those pursuing their CFA designation, we believe investment students and professionals will also find it a useful resource to keep up to date on the extensive body of knowledge associated with the CFA program.”  

 

 

Cayman represented at risk management forum 

The Insurance Managers Association of Cayman represented the Cayman Islands insurance industry at the Risk Management Society conference in Victoria, British Columbia earlier this month. 

Discussions at the conference covered topics including compliance issues, risk issues regarding cyber liability, changes to the Canadian regulatory environment and innovation in the insurance industry. 

In 2011 the Cayman Islands signed a Tax Information Exchange Agreement with Canada, opening the gateway to doing business with Canadian companies. The latest figures show there are approximately 150 Canadian captive insurance companies. Cayman is home to around 5 percent (7), Bermuda 12 percent (17) and Barbados 65 percent (98). British Columbia, Canada’s only province with captive legislation, has 14 percent (21). 

IMAC Chairman Rob Leadbetter, who was among the insurance managers representing Cayman at the conference, said, “The Cayman Islands is increasingly becoming an attractive destination for Canadian corporations, given our robust regulatory environment and legislative infrastructure that is based on English Common Law, which is familiar to Canadians, and the quality and strength of the service providers who serve the industry. 

“With the TIEA firmly in place, Cayman is ideally situated to benefit Canadian companies as this agreement gives Cayman an advantage over Barbados, with their double-tax treaty,” he said.  

 

 

Island Heritage launches 2014 CharityDrive 

Insurer Island Heritage is gearing up for a third annual CharityDrive sponsorship program from April 8-10, 2014. CharityDrive allows the Cayman Islands public to be involved in the donation process to three charities.  

For every car that drives past the Island Heritage Roundabout during CharityDrive, Island Heritage will donate $1 to charity. On each of the three days, a different deserving cause will benefit from up to CI$10,000 in sponsorship. Another way to get involved and help increase donations is to visit the Island Heritage Facebook page and click the Support button or to mention @charitydriveky on Twitter. Each will result in another $1 donation by Island Heritage to the chosen charities.  

In addition to the potential $10,000 on offer for each charity, the company is giving the charity that has the most support clicks on Facebook and mentions of @charitydriveky on Twitter the opportunity to earn a further $5,000.  

Cayman charities are invited to apply by Nov. 29 online at CharityDrive.ky. 

 

 

Thrift shop receives $5,000 donation  

CIBC FirstCaribbean has made its annual donation of US$5,000 toward the maintenance and upkeep of the Red Cross Thrift Shop.  

“Our aim …is to assist with any upgrades and improvements that are needed to make it more customer-friendly for shoppers,” said Mark McIntyre, managing director of CIBC FirstCaribbean Cayman.  

Red Cross Director Jondo Obi said the funds have been for a point-of-sale system, training for volunteers on how to use the system, reusable bags for customers, a theft-proof donation bin and security cameras which in the shop as well as around the premises. 

 

 

Digicel opens store at Countryside 

Digicel has opened its new store at Countryside Shopping Village. The store is designed to be more interactive and user friendly for customers to help them choose the product and plan that best suit their individual needs, Digicel said. 

The opening of the Countryside store is the beginning of Digicel’s store upgrade plan in the Cayman Islands, which is expected to be completed by early next year. 

Digicel’s Commercial Director Brian Hurley said expanding the retail footprint is key to Digicel’s business due to the significant growth of its customer base. “We have listened to our customers and want to ensure that we deliver on our services commitments. The rationale for choosing the Countryside location in Savannah was simple. It is a fantastic shopping complex and allows us to bring a Digicel closer to our valued customers on that side of the island.” 

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