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Cayman Islands

2007 Schools Wikipedia Selection. Related subjects: Central & South American
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   Cayman Islands

   Flag of the Cayman Islands Coat of arms of the Cayman Islands
   Flag                       Coat of arms
   Motto: He hath founded it upon the seas
   Anthem: God Save the Queen (Royal Anthem)
   Location of the Cayman Islands
   Capital
   (and largest city) George Town
   19°20′N 81°24′W
   Official languages English
   Government Constitutional monarchy
    - Queen Queen Elizabeth II
    - Governor Stuart Jack
    - Leader of Gov't Business Kurt Tibbetts
   Creation
    - split from Jamaica 1962
   Area
    - Total 260 km² ( 206th)
   100.4 sq mi
    - Water (%) 1.6%
   Population
    - 2005 estimate 45,017 ( 208th)
    - 1999 census 39,020
    - Density 139.5/km² ( 63rd)
   364.2/sq mi
   GDP ( PPP) 2004 estimate
    - Total 1,391,000,000 ( n/a)
    - Per capita 32,300 ( n/a)
   HDI  (2003) NA (NA) ( unranked)
   Currency Cayman dollar ( KYD)
   Time zone ( UTC-5)
    - Summer ( DST) not observed ( UTC-5)
   Internet TLD {{{cctld}}}
   Calling code + 1-345

   The Cayman Islands are an overseas territory of the United Kingdom in
   the western Caribbean Sea comprising the islands of Grand Cayman,
   Cayman Brac, and Little Cayman. It is the fifth largest financial
   centre and is also one of the leading tourist dive destinations in the
   world.

History

   The Cayman Islands - often referred to as The Caymans, or just Cayman -
   were first sighted by Christopher Columbus on May 10, 1503 during his
   disastrous fourth and final voyage to the New World. The first recorded
   English visitor to the islands was Sir Francis Drake, who landed there
   in 1586 and named them the Cayman Islands after the Neo-Taino nations
   term (caiman) for crocodile (Zayas, 1914).

   The first recorded permanent inhabitant of the Cayman Islands, Isaac
   Bodden, was born on Grand Cayman around 1700. He was the grandson of
   the original settler named Bodden who was probably one of Oliver
   Cromwell's soldiers at the taking of Jamaica in 1655.

   The islands, along with nearby Jamaica, were captured, then ceded to
   England in 1670 under the Treaty of Madrid. They were governed as a
   single colony with Jamaica until 1962 when they became a separate
   British overseas territory and Jamaica became an independent
   commonwealth realm.

   The island of Grand Cayman was severely damaged by the Category Five
   Hurricane Ivan on September 11 & 12 2004, which destroyed many
   buildings and damaged 70% of them. Power, water and communications were
   all disrupted. Ivan was the worst hurricane to hit the islands in 86
   years. As of June 27, 2006 Grand Cayman has fully recovered since Ivan,
   with most of the infrastructure now restored, as evidenced by the
   booming tourism and banking industries.

Geography

   The Cayman Islands are located in the western Caribbean sea. The three
   islands are situated about 480 miles (770  km) south of Miami, 150
   miles (240 km) south of Cuba, and 180 miles (290 km) northwest of
   Jamaica. Grand Cayman is by far the biggest, with an area of 76 square
   miles (197  km²). The two " Sister Islands" of Cayman Brac and Little
   Cayman are located about 90 miles (145 km) east of Grand Cayman and
   have areas of 14 square miles (36 km²) and 10 square miles (25.9 km²)
   respectively. All three islands were formed by large coral heads
   covering submerged ice age peaks of western extensions of the Cuban
   Sierra Maestra range and are mostly flat. One notable exception to this
   is The Bluff on Cayman Brac, which rises to 140  feet (42.6  m) above
   sea level, the highest point on the island.

   Cayman avian fauna includes two endemic subspecies of Amazona parrots:
   Amazona leucocephala hesterna, or Cayman Brac Parrot, native only to
   Cayman Brac, and Amazona leucocephala caymanensis or Grand Cayman
   Parrot, which is native only to Grand Cayman. Another notable fauna is
   the endangered Blue Iguana, which is native to Grand Cayman.
   Districts of the Cayman Islands
   Enlarge
   Districts of the Cayman Islands

Districts

   Grand Cayman (the largest island) is administratively divided into 6
   districts. They are:
    1. George Town (the present capital)
    2. East End
    3. North Side
    4. West Bay
    5. Bodden Town (the former capital)

   Cayman Brac (the second largest island) is divided into 6 districts.
   They are:
    1. West End
    2. Stake Bay
    3. Creek
    4. The Rock
    5. Cotton Tree Bay
    6. Watering Place

   Then there is Little Cayman (the smallest and most sparsely populated
   island) which is a bit bigger than a district in itself.

Demographics

   The latest population estimate of the Cayman Islands is 57,800 as of
   April 2006, representing a mix of more than 100 nationalities. Out of
   that number, about half are of Caymanian descent. About 60% of the
   population is of mixed race (mostly mixed African-European). Of the
   remaining 40%, about half are Caucasian and half are of African
   descent. The islands are almost exclusively Christian, with large
   number of Presbyterians and Anglicans. Caymanians enjoy one of the
   highest standards of living in the West Indies. The vast majority of
   the population resides on Grand Cayman. Cayman Brac is the second most
   populated with about 2,000 residents, followed by Little Cayman with
   around 200 permanent residents.

   The capital and major city of the Cayman Islands is George Town, which
   is located on the south west coast of Grand Cayman.

Economy

   The economy of the Cayman Islands used to be built around turtling.
   However, this industry began to disappear in the 20th century and
   tourism and financial services began to become the economic mainstays
   during the 1970s. The United States is the Cayman Islands' largest
   trading partner.

   With an average income of around $42,000, Caymanians enjoy the highest
   standard of living in the Caribbean. The islands print their own
   currency, the Cayman Islands Dollar (KYD), which is pegged to the US
   dollar at a fixed rate of 1 KYD = 1.227 USD. Thus, the C.I. Dollar's
   rate of exchange with all other world countries is directly tied to the
   U.S. Dollar's rate of exchange with those same countries.

   The government's primary source of income is indirect taxation. An
   import duty of 20% is levied against goods imported into the islands.
   Few goods are exempt; notable examples include books, cameras & baby
   formula. Duty on automobiles is charged on a sliding scale with the
   duty reaching 40% for expensive models. The government charges a flat
   licensing fee to financial institutions that operate in the islands. A
   small fee is also charged to each tourist that arrives on the islands.

Tourism

   Seven Mile Beach

   Tourism accounts for 70-75% of the annual GDP of the Cayman Islands. Of
   the millions of tourists that visit the islands annually, 99% stay on
   Grand Cayman. George Town also serves as a major cruise ship port,
   which brings in 4,000 -22,000 tourists a day, 5 days a week, depending
   on the number of ships in port.

   Grand Cayman's major tourist attraction is the world-famous Seven Mile
   Beach on which most of the island's hotels and resorts are located. SMB
   is regarded by many as one of the best beaches in the world.

   The Cayman Islands are also world famous as a Scuba Diving destination
   because of their crystal-clear waters and their proximity to the Cayman
   Wall. Cayman Brac and Little Cayman are also considered to be elite
   dive destinations. There are several snorkeling locations where
   tourists can swim with stingrays.

   Other tourist attractions include the black limestone spires of Hell, a
   turtle farm, and the Mastic Trail, a hiking trail through the dry
   forests in the centre of the island.

   One recent development is the production of gourmet sea salt by the
   Cayman Sea salt Co.Ltd at their mariculture farm in Breakers Grand
   Cayman.

Financial services industry

   The Cayman Islands is widely recognised to be one of the leading
   offshore financial centres.

   The Cayman Islands financial services industry encompasses banking,
   mutual funds, captive insurance, vessel registration, companies and
   partnerships, trusts, structured finance and the Cayman Islands Stock
   Exchange. As of December 2005, just over 70,000 companies were
   incorporated on the Cayman Islands including 430 banking and trust
   companies, 720 captive insurance firms and more than 7,000 funds.

   A recent report released by the International Monetary Fund (IMF)
   assessing supervision and regulation in the Cayman Islands' banking,
   insurance and securities industries, as well as its anti- money
   laundering regime, recognized the jurisdiction's comprehensive
   regulatory and compliance frameworks. "An extensive program of
   legislative, rule and guideline development has introduced an
   increasingly effective system of regulation, both formalising earlier
   practices and introducing enhanced procedures," noted IMF assessors.
   The report further stated that "the supervisory system benefits from a
   well-developed banking infrastructure with an internationally
   experienced and qualified workforce as well as experienced lawyers,
   accountants and auditors," adding that, "the overall compliance culture
   within Cayman is very strong, including the compliance culture related
   to AML [anti-money laundering] obligations...".

Government

   The Cayman Islands are currently a British Overseas territory, listed
   by the U.N. Special Committee of 24 as one of the last non self
   governing territories. A 15-seat Legislative Assembly is elected by the
   people every 4 years to handle domestic affairs. Of the elected Members
   of the Legislative Assembly, or MLAs, 5 are chosen to serve as
   government ministers in a cabinet headed by the governor. The head of
   government is the Leader of Government Business, which is currently The
   Honourable Kurt Tibbetts.

   A Governor is appointed by the British government to represent the
   monarch. The governor can exercise complete executive authority if he
   wishes through blanket powers reserved to him in the constitution. He
   must give royal assent to all legislation, which allows him the power
   to strike down any law the legislature may see fit for the country. In
   modern times, the governor usually allows the country to be run by the
   cabinet, and the civil service to be run by the Chief Secretary, who is
   the Acting Governor when the Governor is not able to discharge his
   usual duties for one reason or another. The current governor of the
   Cayman Islands is Stuart Jack and the current Chief Secretary is Hon.
   George McCarthy, OBE, JP.

   Constitutional Modernisation has come to the forefront of politics
   recently with the collapse of the now defunct Euro Bank Corporation in
   2003. The prosecution in the trial was forced to reveal that the
   British Government had planted moles (and used wire taps) throughout
   the banking industry using MI6, at the consent of the governor. This
   caused the trial's collapse, and subsequent release of those charged
   with wrongdoing. Along with this, the only mole that was known at the
   time was allowed to leave the country, never to answer for what he (or
   the United Kingdom) was doing. This infuriated the elected members of
   the legislative assembly as they maintained that the governor and the
   United Kingdom had put into question Cayman's reputation as a tightly
   regulated offshore jurisdiction. Some saw this as the United Kingdom
   meddling in the territory's affairs to benefit itself (and the EU), at
   the expense of the islands' economy.

   Constitutional talks however went on hold following Hurricane Ivan in
   2004. Subsequently in May of 2005 the ruling UDP was ousted by the PPM,
   which have slowed the constitutional modernisation process to a
   standstill. Among the points of contention is whether or not the new
   constitution should include a bill-of-rights.

Taxation

   Caymanians and Caymanian companies are not subject to any form of
   direct taxation. However, an import tax of between 5% and 20% is levied
   on almost all imported goods.

Education

   The Cayman Islands Education Council operates state funded schools on
   the island, with a Caribbean-oriented education curriculum. Caymanian
   children are entitled to free primary and secondary education. Various
   churches and private foundations operate several private schools
   offering curricula derived from American and UK education systems from
   kindergarten to 12th Grade. Grand Cayman is also home to St. Matthew's
   University-which includes a medical school and a school of veterinary
   medicine.

   The Cayman Islands Law School (CILS), a branch of the University of
   Liverpool in the UK, also calls Grand Cayman home. Situated in George
   Town, the law school has been in operation since 1982. As taken from
   the student handbook, "The Law School provides tuition for both full
   and part-time programmes leading to the Bachelor of Law (Honours)
   Degree of the University of Liverpool and the qualification of
   Attorney-at-Law of the Cayman Islands, following successful completion
   of the postgraduate Professional Practicum Course (PPC)

Healthcare

   The Cayman Islands have a modern healthcare system. There are two
   hospitals in George Town, the government run George Town Hospital and
   the smaller, private Chrissie Tomlinson Memorial Hospital. Additionally
   Faith Hospital is a small (18 bed) facility on Cayman Brac. The
   Government maintains a satellite clinic on Little Cayman.

   Health insurance is handled by private insurers and a government-run
   company (CINICO). There is no universal health coverage as in the UK.

   Currently the islands lack facilites for cardiac catheterization,
   though many feel the population is large enough to support the
   procedure. Various attempts to establish a cath lab in George Town
   Hospital have stalled out. Similarly, the Caymans have lacked an MRI
   since one was destroyed during Hurricane Ivan.

Military

   The defence of the Cayman Islands is the responsibility of the United
   Kingdom. Therefore, the islands have no established military. They do
   however have their own police force, the Royal Cayman Islands Police
   Service, and in 2001 the small Cayman Islands Cadet Corps was formed in
   the place of a traditional army. Regular off-shore marine patrols are
   conducted by the RCIP and Grand Cayman is a port-of-call for the United
   States Coast Guard.

Foreign relations

   The foreign relations of the Cayman Islands are largely managed from
   the United Kingdom, as the islands remain an overseas territory of the
   UK. However, the Government of the Cayman Islands often resolves
   important issues with foreign governments alone, without intervention
   from Britain. Although in its early days, the Cayman Islands' most
   important relationships were with Britain and Jamaica, in recent years,
   this has shifted, and they now rely more so on the United States.

   Though the Cayman Islands are involved in no major international
   disputes, they have come under some criticism due to the use of their
   territory for narcotics trafficking and money laundering. In an attempt
   to address this, the Government entered into the Narcotics Agreement of
   1984 and the Mutual Legal Assistance Treaty of 1986 with the United
   States, in order to reduce the use of their facilities associated with
   these activities. In more recent years, they have stepped up the fight
   against money laundering, by limiting banking secrecy, introducing
   requirements for customer identification and record keeping, and
   requiring banks to cooperate with foreign investigators.

   Due to their status as an overseas territory of the UK, the Cayman
   Islands have no representation either on the United Nations, or in most
   other international organizations. However, the Cayman Islands still
   participates in some international organizations, being a full member
   of the Central Development Bank, International Olympic Committee and
   FIFA, an associate member of Caricom and UNESCO, and a member of a
   sub-bureau of Interpol.

In fiction

   Large parts of the novel The Firm by John Grisham, and the film, take
   place on the Cayman Islands. The main character works for a Memphis,
   Tennessee law firm that uses island banks for money laundering.

   Frankie Flowers' 2004 film Haven takes place on Grand Cayman. Frankie
   Flowers is a native of the Cayman Islands.

   The islands are featured as Krusty the Clown's tax haven in The
   Simpsons episode 3F12 - Bart The Fink.
   Map of the Cayman Islands
   Enlarge
   Map of the Cayman Islands

   A Cayman Island Bank cheque is also shown in Bond thriller 'Die Another
   Day'. The cheque is issued by Halle Berry to a doctor in the 'beauty
   clinic' on Isla Lorna.

   In the computer game Rainbow Six 3: Raven Shield 4 missions need to be
   accomplished on the airport of Cayman Brac as well as in a private
   house in order to rescue hostages being held in the buildings by
   terrorists.

   Retrieved from " http://en.wikipedia.org/wiki/Cayman_Islands"
   This reference article is mainly selected from the English Wikipedia
   with only minor checks and changes (see www.wikipedia.org for details
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