The Cayman Islands Financial Services Association (CIFSA) has thrown its support behind a new initiative at the University College of the Cayman Islands (UCCI) offering a six-month Offshore Financial Services course.
The course, which was announced by UCCI earlier this month, is a first for the Cayman Islands and is set to commence at the end of October.
"This is a wonderful educational development for the financial services industry," said Eduardo D'Angelo P. Silva, a Director of CIFSA.
"The quality of our human capital has been one of the key success factors of our financial services industry and this course continues our commitment to excellence in client service in the Cayman Islands."
The new curriculum, entitled Certificate in Offshore Financial Services, comprises six key course modules covering areas such as banking, captive insurance, trusts, investment funds, corporate services, regulation and taxation.
CIFSA is assisting by helping to secure volunteers among the industry's best experts to participate in a series of special industry seminars, which occurs at the end of the course. During these seminar sessions, students will get insights from some of the local offshore industry's best in all of the areas covered by the course.
"As a key coordinating body for the financial services industry CIFSA is very helpful in securing participants to assist with the course," said Paul Byles, course lecturer who developed the course with UCCI's new Executive Training Centre.
"With CIFSA's help we are able to tap into the enormous wealth of industry expertise in the Cayman Islands to provide a course of high value."
Eric Crutchley, a CIFSA Director, said: "This course seems like a very effective way to get up to speed in a comprehensive manner on the financial services industry as a whole and we will do what we can to support UCCI in its efforts."
UCCI plans to launch the course at the end of October.
CIFSA is a not-for-profit association, CIFSA was founded in November 2003 and is funded by its private sector members who currently include Admiral Administration, Appleby, Butterfield Bank, Cayman Management, Cayman National Bank, Close Brothers, CIBC Bank and Trust (Cayman), Coutts, Deloitte, Deutsche Bank, dms Management, Fidelity Bank (Cayman), First Caribbean International Bank, HSBC Financial Services (Cayman), Julius Baer Bank, KPMG, Mourant, Ogier, PricewaterhouseCoopers, Queensgate, Rawlinson and Hunter, Royal Bank of Canada, Scotia Bank & Trust, Spectrum Global Fund Administration (Cayman), Sul America International Bank and Walkers.
The Association's board and membership also comprise the Islands' key associations including: the Cayman Islands Society of Professional Accountants (CISPA), the Society of Trust and Estate Practitioners (STEP), the Cayman Islands Fund Administrators Association (CIFAA), the Company Managers Association (CICMA), the Bankers Association (CIBA) and the Insurance Managers Association