INCORPORATION AND PRINCIPAL FUNCTIONS. The Cayman Islands Development Bank (CIDB) was established under the Cayman Islands Development Bank Law, 2001 (Law 34 of 2001) which came into force on 1 March, 2002. On the enactment of the CIDB Law, two former statutory financial institutions, the Agricultural and Industrial Development Board (AIDB) and the Housing Development Corporation (HDC) were dissolved and their functions as well as their assets and liabilities were transferred to the Bank. The principal function of the CIDB is “to mobilise and provide finance for and promote and facilitate the expansion and strengthening of the economic development of the Islands”.
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Samples: Ownership Agreement, Ownership Agreement, www.dlp.gov.ky
INCORPORATION AND PRINCIPAL FUNCTIONS. The Cayman Islands Development Bank (CIDB) was established under the Cayman Islands Development Bank Law, 2001 (Law 34 of 2001, 2005 Revision) which came into force on 1 March, 2002. On the enactment of the CIDB Law, two former statutory financial institutions, the Agricultural and Industrial Development Board (AIDB) and the Housing Development Corporation (HDC) were dissolved and their functions as well as their assets and liabilities were transferred to the Bank. The principal function of the CIDB is “to mobilise and provide finance for and promote and facilitate the expansion and strengthening of the economic development of the Islands”.
Appears in 1 contract
Samples: www.dlp.gov.ky
