<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-05-23</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001137281</issuerCik>
        <issuerName>INTERNATIONAL FINANCIAL GROUP INC /CAYMAN ISLANDS/</issuerName>
        <issuerTradingSymbol>none</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
    <reportingOwnerId>
            <rptOwnerCik>0001215257</rptOwnerCik>
            <rptOwnerName>IFG WORLD HOLDINGS INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
        <isDirector>0</isDirector>
        <isOfficer>0</isOfficer>
        <isTenPercentOwner>1</isTenPercentOwner>
        <isOther>0</isOther>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Common Shares</value>
        </securityTitle>
        <transactionDate>
            <value>2003-05-23</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-23</value>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>S</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>1000000</value>
            </transactionShares>
            <transactionValue>
                <value>0.10</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>17000000</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <ownerSignature>
        <signatureName>/s/ Daniel MacMullin</signatureName>
        <signatureDate>2003-05-23</signatureDate>
    </ownerSignature>

</ownershipDocument>

