Monetary Authority adopts new mission statement
Timothy Ridley, Chairman of
the Cayman Islands
Monetary Authority
Wednesday, August 11, 2004
The Board of Directors of the Cayman Islands Monetary Authority has announced
the adoption of a new mission statement for the Authority.
It reads: “As the primary financial services regulator our mission is to
enhance the economic wealth and reputation of the Cayman Islands by fostering a
thriving and growing, competitive, and internationally recognised financial
services industry through appropriate responsive, cost-effective and efficient
supervision and a stable currency.”
The new mission statement was adopted at the Board’s last meeting under the
chairmanship of Mr. Michael Austin. It lays the new foundation of a bold
strategic plan for the Authority.
In realisation of the mission statement, the Board established the following
goals:
- to create a high quality and effective regulatory environment to attract
users and providers of financial services;
- to operate the Authority in the most efficient way possible;
- to preserve the value and integrity of the Cayman Islands currency;
- to raise the profile of the Authority in order to increase understanding
of the Authority, both locally and internationally.
The Board has set objectives for each goal, and has delegated the development
of strategies and tactics to the management of the Authority. These will be
presented to the Board at a September meeting.
Newly appointed Chairman, Timothy Ridley, claimed that the strategic plan
will assist the Authority in agreeing its ownership and purchase agreements with
the Government.
He said: “The mission statement reflects the Authority’s vision, and the
strategic plan will provide a solid base from which to strengthen and improve
the performance of the Authority.”
The Board also announced that the new details had been placed on their
website,: www.cimoney.com.ky
Back...
Click
here for reader comments...
| 
