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Business
Combating Terrorism Financing
The R3 Foundation hosted non-profits today, focusing on the importance of transparency and good governance.
Last year, Cayman’s 630 NPOs raised more than one hundred million dollars for local causes.
Compass News reporter Philipp Richter was at the conference and finds out more about the risks of abuse that charities face.
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Cayman Compass
Cayman Finance CEO calls for balanced approach to immigration reform
Cayman Finance chief Steve McIntosh has called for a balanced approach to immigration reform, warning that the island’s core industry relies on imported labour because of near full employment among qualified Caymanians.
Fees from the financial services sector account for around half of government’s annual revenue — close to $500 million. That’s equivalent to the entire public sector payroll.
McIntosh said the strength of the sector had helped the country survive the economic impact of COVID-19 and its aftermath.
But he insisted that, as a direct result of failed immigration policies, employment in the sector had remained stagnant for more than a decade and a renewed focus on growth is needed to avoid a downward spiral.
