Caribbean offshore Financial Centers: Past, Present, and Possibilities for the Future

Esther Suss, Oral Williams and Chandima Mendis

No 2002/088, IMF Working Papers from International Monetary Fund

Abstract: The paper reviews the development of offshore financial activities in the English-speaking Caribbean islands and takes stock of the size and status of these sectors today. In view of the heightened concerns of the international community about money laundering, the costs and risks to countries of having or establishing offshore sectors have risen considerably.

Keywords: WP; authority; Cayman authority; bank; fee; country; offshore financial sectors; Financial Action Task Force; money laundering; development strategies; banking industry; liability company; application fee licence; due diligence; OFC sector; market leader; gaming company; Offshore financial centers; Financial sector; Anti-money laundering and combating the financing of terrorism (AML/CFT); Caribbean (search for similar items in EconPapers)
Pages: 34
Date: 2002-05-01
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Citations: View citations in EconPapers (13)

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