The head of the Cayman Islands Financial Services Association has told American lawmakers that his country is being subjected to unfair criticism by US policymakers over the Caribbean jurisdiction’s status as an offshore tax haven, according to The Gleaner.

"What does trouble us to the point where we are bemused, bothered and bewildered is the rhetoric, the constant reference to Cayman," Tony Travers was reported saying after expressing his displeasure to US legislators.

The Cayman Islands, along with other offshore financial locations such as Switzerland, Liechtenstein and Monaco, have come under continuous pressure from major economies such as the US and Germany as a result of the latter countries' determination to halt leakage of tax revenue. Critics of tax havens say they encourage the wealthy to avoid their legitimate tax obligations, while defenders of these locations say they encourage governments to keep taxes lower than would otherwise be the case.

The Cayman Islands' Mr Travers said further that the Cayman Islands has been incorrectly aligned with uncooperative tax havens like Andorra, Monaco, and Liechtenstein.

"The reality of the situation is, we have a full transparency treaty with the United States," Mr Travers said, adding that the Cayman Islands is "an accomplished international financial centre, supported by an impressive list of professionals who are able to offer a broad range of services."

US president Barack Obama, in a recent White House address, had singled out the Cayman Islands as a tax haven. A US congressional report said the US loses about $100 billion to tax havens annually.