Beautiful Virgin Islands

Thursday, Oct 30, 2025

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
UK and Vietnam Sign Landmark Migration Deal to Fast-Track Returns of Irregular Arrivals
UK Drug-Pricing Overhaul Essential for Life-Sciences Ambition, Says GSK Chief
Princesses Beatrice and Eugenie Temporarily Leave the UK Amid Their Parents’ Royal Fallout
UK Weighs Early End to Oil and Gas Windfall Tax as Reeves Seeks Investment Commitments
UK Retail Inflation Slows as Shop Prices Fall for First Time Since Spring
Next Raises Full-Year Profit Guidance After Strong Third-Quarter Performance
Reform UK’s Lee Anderson Admits to 'Gaming' Benefits System While Advocating Crackdown
United States and South Korea Conclude Major Trade Accord Worth $350 Billion
Hurricane Melissa Strikes Cuba After Devastating Jamaica With Record Winds
Vice President Vance to Headline Turning Point USA Campus Event at Ole Miss
U.S. Targets Maritime Narco-Routes While Border Pressure to Mexico Remains Limited
Bill Gates at 70: “I Have a Real Fear of Artificial Intelligence – and Also Regret”
Elon Musk Unveils Grokipedia: An AI-Driven Alternative to Wikipedia
Saudi Arabia Unveils Vision for First-Ever "Sky Stadium" Suspended Over Desert Floor
Amazon Announces 14 000 Corporate Job Cuts as AI Investment Accelerates
UK Shop Prices Fall for First Time Since March, Food Leads the Decline
London Stock Exchange Group ADR (LNSTY) Earns Zacks Rank #1 Upgrade on Rising Earnings Outlook
Soap legend Tony Adams, long-time star of Crossroads, dies at 84
Rachel Reeves Signals Tax Increases Ahead of November Budget Amid £20-50 Billion Fiscal Gap
NatWest Past Gains of 314% Spotlight Opportunity — But Some Key Risks Remain
UK Launches ‘Golden Age’ of Nuclear with £38 Billion Sizewell C Approval
UK Announces £1.08 Billion Budget for Offshore Wind Auction to Boost 2030 Capacity
UK Seeks Steel Alliance with EU and US to Counter China’s Over-Capacity
UK Struggles to Balance China as Both Strategic Threat and Valued Trading Partner
Argentina’s Markets Surge as Milei’s Party Secures Major Win
British Journalist Sami Hamdi Detained by U.S. Authorities After Visa Revocation Amid Israel-Gaza Commentary
King Charles Unveils UK’s First LGBT+ Armed Forces Memorial at National Memorial Arboretum
At ninety-two and re-elected: Paul Biya secures eighth term in Cameroon amid unrest
Racist Incidents Against UK Nurses Surge by 55%
UK Chancellor Rachel Reeves Cites Shared Concerns With Trump Administration as Foundation for Early US-UK Trade Deal
Essentra plc: A Closer Look at a UK ‘Penny Stock’ Opportunity Amid Market Weakness
U.S. and China Near Deal to Avert Rare-Earth Export Controls Ahead of Trump-Xi Summit
Justin time: Justin Herbert Shields Madison Beer with Impressive Reflex at Lakers Game
Russia’s President Putin Declares Burevestnik Nuclear Cruise Missile Ready for Deployment
Giuffre’s Memoir Alleges Maxwell Claimed Sexual Act with Clooney
House Republicans Move to Strip NYC Mayoral Front-Runner Zohran Mamdani of U.S. Citizenship
Record-High Spoiled Ballots Signal Voter Discontent in Ireland’s 2025 Presidential Election
Philippines’ Taal Volcano Erupts Overnight with 2.4 km Ash Plume
Albania’s Virtual AI 'Minister' Diella Set to 'Birth' Eighty-Three Digital Assistants for MPs
Tesla Unveils Vision for Optimus V3 as ‘Biggest Product of All Time’, Including Surgical Capabilities
Francis Ford Coppola Auctions Luxury Watches After Self-Financed Film Flop
Convicted Sex Offender Mistakenly Freed by UK Prison Service Arrested in London
United States and China Begin Constructive Trade Negotiations Ahead of Trump–Xi Summit
U.S. Treasury Sanctions Colombia’s President Gustavo Petro over Drug-Trafficking Allegations
Miss USA Crowns Nebraska’s Audrey Eckert Amid Leadership Overhaul
‘I Am Not Done’: Kamala Harris Signals Possible 2028 White House Run
NBA Faces Integrity Crisis After Mass Arrests in Gambling Scandal
Swift Heist at the Louvre Sees Eight French Crown Jewels Stolen in Under Seven Minutes
U.S. Halts Trade Talks with Canada After Ontario Ad Using Reagan Voice Triggers Diplomatic Fallout
Microsoft AI CEO: ‘We’re making an AI that you can trust your kids to use’ — but can Microsoft rebuild its own trust before fixing the industry’s?
×