In an open letter to US president Barack Obama, the Cayman Islands have requested that the jurisdiction should not be branded an area that aids tax evasion and avoidance, a case which could not be 'further from the truth'. Anthony Travers, chairman of the Cayman Islands Financial Services Association, noted in the letter that although the jurisdiction applies a low tax rate, it should not be the 'basis upon which to suggest illegality in the form of tax evasion'. They pledged that they have been working actively with initiatives such as the tax sharing agreement with the Organisation for Economic Cooperation and Development, which they take 'very seriously'. With calls for more transparency within the accounting sector, the Caymans Islands has asked the US for support 'to promote transparency and accountability'.