During the last 30 years, while much of the Caribbean has experienced increasing economic hardship, the Cayman Islands have continued to prosper. In 1998, the United Nations Office for Drug Control and Crime Prevention acknowledged the Caymans as the fifth-largest financial center in the world. This paper examines some of the factors that have contributed to the Caymans' rise as an offshore financial center (OFC) and explores the history of Cayman relations with the United States. The analysis will show that the Cayman Islands have a unique history that has facilitated their emergence as the Caribbean’s premier OFC. An understanding of Cayman traditions suggests that the Cayman financial community will probably continue to flourish and that the particular character of Cayman society will likely ensure its continued place as the region’s frontrunner OFC.
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