Cayman Islands Bankers’ Association Announces Updated Code of Conduct

The Cayman Islands Bankers’ Association (CIBA) today announced that its member retail banks have adopted a revised Code of Conduct, reflecting a renewed commitment to delivering good outcomes for customers and considering their best interests at all times.

The updated code was developed in close collaboration with the Ministry of Financial Services and modernizes the framework that guides how member banks serve their retail clients. It aligns CIBA’s core principles with the U.K. Financial Conduct Authority’s Consumer Duty standards and international best practices.

“Cayman’s retail banks play a central role in the financial well-being of our community,” said Richard Lewis, CIBA spokesperson. “This updated Code of Conduct strengthens our shared commitment to fairness, transparency, and accountability in every customer interaction.”

Member banks that have subscribed to the revised Code of Conduct are Butterfield Bank (Cayman) Ltd., Cayman National Bank Ltd., CIBC Caribbean, PROVEN Bank, RBC Royal Bank (Cayman) Limited, and Scotiabank & Trust (Cayman) Ltd.

The new code underscores the industry’s ongoing focus on customer protection, responsible banking, and continuous improvement in service standards.

The updated Code of Conduct is available on the Cayman Islands Bankers’ Association website at www.cibankers.org