UK Overseas Territories Minister Lord Tariq Ahmad held high-level talks with Government and Opposition officials today (30 May) on the issue of public beneficial ownership registries.
At that meeting, he gave his commitment to work collaboratively with Cayman to fulfill the obligations of the Sanctions and Anti-Money Laundering Law.
Lord Ahmad touched down this morning in Cayman for a whirlwind five-hour visit.
It comes one week after Premier Hon. Alden McLaughlin made it clear Cayman will not adhere to the UK’s public beneficial ownership registries, but Lord Ahmad said the work will continue.
“Let me reassure the public here in Cayman we work very closely with the Government of the Cayman Islands and that collaboration will continue to ensure we mitigate some of the concerns. And when you look at Caymans, the strength of Caymans there are three key principles that I would allude to, first of all, is the strength of the political system,” Lord Ahmad said.
After today talks Premier McLaughlin said the Government’s position remains the same on the issue of public beneficial ownership registries. As for constitutional changes, he said he will continue his push.
“And I am quite optimistic because the UK is keen to listen at this stage. Whether that will be the same in three months or six months we know how politics is, which why if I seem a bit anxious I really am because it is important that we do these things while there is the appetite for it,” said Premier McLaughlin.
Lord Ahmad said the UK Government is committed to discussions on constitutional changes. He said only when they see what is being proposed can he say what the UK will agree to or not.
The UK minister departed Cayman this evening.