The Ministry of Financial Services, the Cayman Islands Monetary Authority, representatives of the money-services businesses and members of the local banking industry are discussing the recent business decisions concerning remittance services.
'While any commercial decisions regarding money-services businesses are a matter for the businesses and the banks to make themselves, Government and CIMA are arranging these discussions in order to address concerns on both sides, with the aim of ensuring that options remain open to consumers', Minister Panton said.
'We are encouraged by the level of collaborative engagement so far, and that all sides are working to ensure minimal disruption to remittance services locally'.
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