Advisory - OBI Not Licensed By CIMA (2017-10-17)

Summary

This is a public advisory from the Cayman Islands Monetary Authority (CIMA) warning that an entity calling itself 'Offshore Banking International' (OBI) is not licensed or registered by CIMA. OBI had reportedly claimed to have established a branch office in the Cayman Islands to offer offshore banking and related financial services.

• Banking licence: OBI holds no licence to conduct banking business under the Banking and Trust Companies Law.
• Other regulated business: OBI is not licensed or registered to conduct any other regulated financial services business in or from the Cayman Islands.

The advisory is directed at the general public and potential customers or counterparties of OBI, cautioning them to exercise care when dealing with this entity. It does not impose any ongoing regulatory obligations on licensees or other regulated entities; it is purely an informational/warning notice identifying an unlicensed operator.