First Cayman And Gulf Union Banks Closed

Article Insights On Monday, 13 October, pursuant to Section 14 of the Bank and Trust Companies Law (1995 Revision), the Governor-in-Council instructed First Cayman Bank Ltd., and Gulf Union Bank Ltd., to close until further notice.

This closure is to allow a full investigation of certain matters that came to light on Friday, 10 October, as a result of the due diligence being undertaken as part of the proposed purchase of First Cayman Bank.

As a result of the instruction, the above banks will be closed for business until further notice.

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