Beautiful Virgin Islands

Tuesday, Jul 21, 2026

Cayman: Money transfer services in limbo

Cayman: Money transfer services in limbo

It is unlikely money transfer services will be authorised to resume operations in the immediate future, as government has rejected one of two proposals for those businesses to reopen during soft curfew hours.

Premier Alden McLaughlin said Ministry of International Trade Chief Officer Eric Bush, who is in charge of the curfew exemptions, had refused one of the proposals “as there was no system outlined as to how they were going to manage the numbers [of people using the service]”. The second proposal is still being considered, he said.

McLaughlin, who was speaking at Monday’s COVID-19 press briefing, did not specify the rejected proposal.

The premier, responding to queries from the media on the issue, said government is increasingly concerned by the crowding they have seen outside local banks, which are opening just one branch each at the moment, and did not want that to happen with money transfer services.

“We are now firmly into community spread of this virus, and I have to tell you, we are increasingly concerned about the numbers of people who are congregating in supermarkets, outside supermarkets, but not so much inside, but outside supermarkets and banks in particular,” he said.

As of Tuesday afternoon, Cayman had 45 positive COVID-19 cases.

Six new cases were announced Tuesday, four of which were students who had been isolated at the government facility and two were from contact with previously identified positive cases.

Many within the local community have been clamouring for the reopening of the money transfer services to send funds to families in their home country, as well as receive money.

“I think unless we are satisfied that we are going to find a method to avoid this particular problem [crowding] occurring with respect to the money transfer businesses, we are going to be very unwilling to allow another situation like that to develop,” McLaughlin said.

The premier acknowledged the demand for the service; however, he stressed the importance of securing the public’s health.

“I’m not saying it’s impossible; I’m just saying we have to come up with a better plan than is currently the case,” he said.


Pension proposal submitted


Another thorny issue that many in the community are eagerly awaiting resolution on is opening access to pensions.

The premier said on Tuesday that he had received a proposal from local pension providers Monday.

He said he would have to study the document before arriving at a decision.

He said a Cabinet meeting will be held during the course of this week to make some decisions.

A pension holiday and/or the ability to access pension funds are the options being explored.

The premier said that whatever decision will be made with regard to pensions will require legislative change and cannot be done by Cabinet.

“I think the [attorney general] has made some very good progress on figuring out how we can hold a virtual meeting of the Legislative Assembly and as soon as we get those details worked out, we’ll move swiftly to have the necessary meeting so that we can make the legislative changes,” he added.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
EU Imposes Record €550 Million Digital Services Fine on AliExpress
London’s Housing Starts Collapse as Planning and Building Costs Stall Development
Charlie Sheen’s Daughter: "My Dad Didn’t Buy Me a House, My Breasts Bought It"
Vivienne Westwood Casts Cicciolina, 74, in Its New Autumn Campaign
Dejavu: Germany’s Military Expansion Reshapes Europe’s Strategic Balance With France
Naturally Conceived Identical Quadruplets Born in Rare Brisbane Delivery
Tate Brothers Fight British Extradition Bid After Miami Arrests
Burnham Reshapes Britain’s Government Around Living Costs, Devolution and Security
Jingye Demands Full Compensation After Britain illegally Nationalized British Steel
Just Another Liar or a Robin Hood? Andy Burnham Pledges Cost-of-Living Help in First Speech as UK Prime Minister
Morgan Stanley Builds a Wall Street Lead in AI Infrastructure Finance
High Prices Push Coffee Drinkers Toward Whole Beans and Home Brewing
Trump Draws Boos and Podium Scrutiny at Spain’s World Cup Triumph
Brilliant move: Péter Magyar Moves to Nominate Chess Grandmaster Judit Polgár as Hungary’s President
Spain Defeats Argentina in Extra Time to Win Second World Cup
Police Block Cockroach Janta Party’s March to Parliament as Education Protests Intensify
Current AI Seeks to Build an Open Global AI Infrastructure Outside Big Tech Control
Turkey Explores S-400 Transfer to UAE in Bid to Rejoin F-35 Program
Germany’s Economic Malaise Reopens the Sunday Shopping Debate
Singapore Considers Lower Taxes for Fund Managers as Hong Kong Intensifies Talent Contest
US Retaliates Against Iran After Two American Troops Killed in Jordan
Bank of Asia BVI Enters Court-Supervised Liquidation After Regulators Find It Insolvent
Proposed U.S.-Saudi Nuclear Pact Could Permit Limited Uranium Enrichment Under International Safeguards
Netherlands Declares Water Shortage Emergency After Drought Pushes Rivers to Historic Lows
Why Kentucky Fried Chicken Became KFC—and Why the False Explanations Persist
Iran Claims It Destroyed Bahrain’s Main Artificial Intelligence Center in Missile and Drone Strike
Ukrainian Drones Strike Wildberries Warehouses Deep Inside Russia
Brothers Andrew and Tristan Tate Who Turned "Toxic Masculinity" Into a Brand Arrested in Miami as Britain Seeks Their Extradition
Reported CIA Mission Helped Clear the UAE’s Path to Advanced US AI Chips
Artificial Intelligence Capital Fuels Markets While Governments and Regulators Face Mounting Strategic Tests
China’s Moonshot’s Kimi K3 Narrows the Gap With Anthropic Through Scale, Openness and Lower Cost
Gold and Cash Seizure Puts Indonesia’s Senior Anti-Corruption Prosecutor Under Investigation
The Ledger Will Not Trust on Faith
Trump Administration Pressures Banks to Restrict Financial Access for Undocumented Immigrants
Passenger Bound for Germany Refused to Sit Beside a Woman on a Plane — Then Slapped a Flight Attendant
Ukraine’s Leadership Rift Spills Into the Streets as Protesters Target Army Chief
Ukrainian Drone Barrage Kills Eight and Strikes Russian Logistics Network
The Ten World Cup Finals That Defined Football History
Smartphones Are Getting More Expensive, Sales Are Collapsing, and Even Apple Admits: "Prices Will Rise"
The Monaco Bombing Has Become a Test of Ukraine’s Intelligence Accountability
Leadership Change and Strategic Rivalry Redraw the Political Map
Energy Risk, Uneven Growth and the New Geography of Global Capital
The AI Race Enters Its Infrastructure Era
For 36 Years, He Scammed About 300 Luxury Hotels — Until He Was Caught
Britain Nationalises British Steel to Protect Scunthorpe Production and Strategic Supply
Andy Burnham Takes Labour Leadership and Prepares to Become Britain’s Seventh Prime Minister in a Decade
Tech Companies Want to Move Computing Off Your Screen and Onto Your Body
White House Teleprompter Operator Earned More Than $100,000 From Bets Linked to the President's Speeches
French National Assembly Overrides Senate to Pass Historic Assisted-Dying Legislation
Spanish Prime Minister's Wife Ordered to Stand Trial as Corruption Probes Encircle Governing Party
×