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Business briefs: September/October 2022

CIIPA provides input on international sustainability disclosure proposals

The Cayman Islands Institute of Professional Accountants recently commented on a pair of International Sustainability Standards Board exposure drafts. CIIPA submitted its response on 29 July, according to a CIIPA press release.

“We share the vision that the accountancy profession must lead on climate reporting and other material environmental, social and governance disclosures and their assurance,” said CIIPA Chief Executive Officer Sheree Ebanks. “It’s important to contribute to strong and sustainable financial markets and economies and enabling the U.N.’s Sustainable Development Goals.”

The exposure drafts addressed general requirements for disclosure of sustainability-related financial information and climate-related disclosures.

Butterfield in Camana Bay

Scotiabank earns Best Bank award in the Cayman Islands

Scotiabank has been recognised as the Best Bank for 2022 in the Cayman Islands by Global Finance Magazine (New York), a trusted standard-bearer of excellence in the financial sector, which determines the best financial institutions around the world every year.

The bank was selected for its performance in several categories, including finances, service offerings and developments to enhance customer experience in 2021, according to a release from the bank.

Scotiabank responds to interest rate hikes

Scotiabank & Trust (Cayman) Ltd. wishes to advise that due to the announcement by the Federal Reserve to increase the federal funds rate by 0.75% on 27 July, the following changes will occur:

  • USD prime rate increase from 4.75% to 5.50%, effective 1 Aug. 2022
  • KYD prime rate increase from 4.75% to 5.50%, effective 11 Aug. 2022

All products linked to USD and KYD prime rates will be adjusted on the effective dates indicated.

Scotiabank in Camana Bay

2022 Butterfield Scholarship recipient announced

Butterfield Bank (Cayman) Limited has announced talented Caymanian student, Olivia Weaver, as this year’s undergraduate scholarship recipient.

Olivia Weaver was awarded the Butterfield Undergraduate Scholarship, established in 1993 to celebrate Butterfield’s 25th anniversary in the Cayman Islands and to support Caymanian students in pursuing further education, part of a wider annual scholarship programme. She will receive $30,000 towards her degree in speech and language therapy at the University of Essex, in the U.K., an amount that can be maintained for up to four years of study. Her goal is to become a speech and language therapist to support people in the Cayman Islands as she understands the importance of communication and the impact it has on everyday life.

This article will also be featured in the September/October 2022 print edition of Camana Bay Times.

Butterfield 2022 scholarship recipient

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