The Registrar for NPOs (non-profit organisations) will hold a training session on corporate governance for charitable organisations in the Cayman Islands next week.
The training session will be held on Tuesday, 2 July, at 5:30-7:30pm in Room 1038 of the Government Administration Building.
The session will cover best practices for charities, and money laundering and terrorist financing risks, and individuals who are leaders and controllers within NPOs are invited to attend.
“The session will help all NPOs to fulfill their administrative duties in compliance with global standards for anti-money laundering, and countering the financing of terrorism,” said Paul Inniss, the Head of Compliance at General Registry, in a press release.
Inniss will be facilitating the session, alongside Ben Evans of Financial Transparency Advisors. The Ministry of Financial Services contracted FTA to assist with Cayman’s preparations for the 2020 CFATF (Caribbean Financial Action Task Force) review of Cayman’s anti-money laundering and counter terrorist financing regime.
As of 1 June, there were more than 400 churches, sports clubs, philanthropic organisations and community groups registered with government, under the scope of the Non-Profit Organisations Law, 2017, which was enacted in accordance with international standards to strengthen the Cayman Islands’ regime to counter money laundering and terrorist financing.
Inniss added that all charities in Cayman will find the July training session useful.
“The training is aimed at every NPO operating in the Cayman Islands. It has been organised to assist them in managing their respective organisations in accordance with global standards. We encourage persons to come prepared to ask questions and engage with us,” he said.