The Cayman Islands National Recovery Fund Established
Wednesday, September 22, 2004
The Government of the Cayman Islands is in the process of establishing an
independent trust to accept monetary donations for relief and reconstruction
following Hurricane Ivan. The trust is known as “The Cayman Islands National
Recovery Fund”.
The Trust will benefit those who were injured, rendered homeless, destitute
or otherwise adversely affected by the hurricane and their families and
dependants and to further the social, educational, economic, religious and
environmental recovery of the Islands.
A U.S. Dollar and a Cayman Islands Dollar current account will be established
at each of the local clearing banks. The first of these accounts have been
established with Cayman National Bank. The account numbers at Cayman National
Bank are as follows:
US Dollar account #: 021 88 999
CI Dollar account #: 011 77 999
When the accounts have been established at the other local clearing banks,
further announcements will be made giving the account numbers at those banks.
Overseas donations can be routed via Citibank in New York, London and
Toronto.
For wire transfers, the following bank routing instructions should be
specified:
In the United States of America:
through Citibank, N.A.,
111 Wall Street, New York,
ABA 021000089,
for credit to Cayman National Bank Ltd, Account Number 36148883,
for further credit to The Cayman Islands National Recovery Fund, Account Number
021 88 999;
In Canada:
through Citibank
100 King Street West, Suite 3400, Toronto,
SWIFT CITICATT,
for credit to Cayman National Bank Ltd, Account Number 2014031002,
for further credit to The Cayman Islands National Recovery Fund, Account Number
021 88 999;
and In the United Kingdom:
through Citibank,
335 Strand, London,
SWIFT CITIGB2L,
for credit to Cayman National Bank Ltd, Account Number 8924309,
for further credit to The Cayman Islands National Recovery Fund, Account Number
021 88 999.
The Financial Secretary of the Cayman Islands, the Honourable George
McCarthy, stated: “The Cayman Islands National Recovery Fund will be
administered by a Board of Trustees pursuant to the Trusts Law of the Cayman
Islands.”
Mr. McCarthy continued that His Excellency the Governor of the Cayman Islands
will chair the Board of Trustees. The other Trustees will be the Honourable
Leader of Government Business; the Honourable Leader of the Opposition: the
Honourable Speaker of the Legislative Assembly: the Honourable Financial
Secretary, Mr. Huw Moses, Managing Partner of Appleby Spurling Hunter: Mr. Conor
O’Dea, Managing Director of Bank of Butterfield International (Cayman) Ltd.; Mr
Daniel Scott, Managing Partner of Ernst & Young; and Pastor Winston Rose.
Mr. McCarthy noted that the Cayman Islands National Recovery Fund is the only
officially recognised account into which donations should be channelled, adding,
“The Fund will be independently audited.”
Mr. McCarthy continued: “We know that there are individuals, agencies and
businesses that have set up accounts to assist the Cayman Islands at this
difficult time. We are very grateful for these efforts and hope that they
continue. The Government of the Cayman Islands and the Board Trustees of the
Fund simply request that these funds be transferred to The Cayman Islands
National Recovery Fund,” said Mr. McCarthy. “This will enable the Board of
Trustees to know the full extent of donated funds available for the recovery
effort.”
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