JN Money Services Cayman (JNMS) Ltd says it has written to the Cayman Islands Monetary Authority (CIMA) to facilitate the company to once again offer transactions in Cayman Islands (CI) dollars to its customers in Cayman, according to a JN news release.

Leesa Kow, managing director of JNMS, says the company has requested CIMA’s support to be able to exchange CI dollars for US dollars.

“We made a similar request of CIMA in August, prior to implementing US dollar-only transactions; however, they did not accommodate the request at that time. Following a deeper reading of the Cayman Islands’ laws, we have again written to them and anticipate a positive outcome,” Kow said in the release.

She says the company intends to engage CIMA in talks when it meets with representatives in George Town today, and the company anticipates that it will be able to offer services once again for customers in CI dollars by Monday.

“While this solution will not solve all of JNMS’s problems, it will certainly allow persons in Cayman to benefit from the choice to remit funds to family and friends overseas,” Kow said.

JNMS was forced to implement US dollar-only transactions in August to maintain services in Cayman, following the closure of its account with Cayman National Bank.

Kow indicated her hope that today’s meeting with CIMA should result in positive outcomes for the broader remittance industry in Cayman.

“We are pleased that the issue is now being resolved, and we anticipate that all players in the wider industry will benefit from these discussions,” Kow said.