OECD commends Cayman Islands

The Organisation for Economic Cooperation and Development has commended the move by the Cayman Islands to further relax banking secrecy.



The Cayman Islands have announced that it will sign tax information exchange agreements with seven Nordic economies on the first of April.



OECD Secretary General, Angel Gurria said the move will boost efforts to promote transparency.



The British territory is among offshore financial centers being targeted by some OECD nations over claims that they encourage tax evasion by wealthy clients in rich nations.