Sunday 27 September, 2020

CIMA: Using an image of CI$ in ads or materials could land you in jail

The public is reminded that using the image of any Cayman Islands currency (“CI currency”), without the written consent of the Cayman Islands Monetary Authority (“CIMA” or “the Authority”), on merchandise, advertisements or any form of promotional publication is strictly prohibited. This includes designs incorporating reproductions of all CI currency bank notes or coins.

In accordance with section 6(1)(a) and Part III of the Monetary Authority Law (2020 Revision) and Part XI of the Penal Code (2019 Revision), CIMA’s policy restricts the reproduction and use of the CI currency to ensure: (i) compliance with the law; (ii) that reproductions of the currency are not used to defraud the public; and that (iii) the Queen’s portrait is not distorted or improperly displayed.

All CI currency is copyrighted. Any person who, without lawful authority or excuse, defaces, mutilates or perforates any currency note or coin made legal tender in the Cayman Islands is guilty of an offence and liable on summary conviction to three months imprisonment and a fine of CI$1,000. Further, any person who, without lawful authority, sells, offers or exposes articles for sale, that bears a design in imitation of any currency bank note or coin, is also guilty of an offence and liable to imprisonment for up to six months. The maximum penalty for the forgery of a CI currency bank note is life imprisonment.  

Additionally, the Authority does allow the use of CI coins in articles for sale, if and only if, the coins or the appearance of the coins are not changed or altered (e.g. dipping of coins in gold, making holes in the coins, etc) in any way. 

"Maintaining the integrity of the CI currency is a collective responsibility. As such, we ask all businesses interested in promoting their services or sales, through the use of photographic images of the CI currency, to please follow the Currency Reproduction Guidelines found on our website," said CIMA’s Head of Currency Division, Ms. Deborah Ebanks.

The Authority plays a central role in protecting the legal tender of notes and coins of the Cayman Islands, and therefore takes these matters very seriously.

For more information or to view CIMA’s policy within the Currency Reproduction Guidelines, visit www.cima.ky. Interested persons may also contact the Currency Division at 949-7089 or ContactCurrency@cima.ky for queries.

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