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Inclusion of FC/FU as “Credit Institution” under The Credit Information Companies (Regulation) Act, 2005   The International Financial Services Centres Authority (IFSCA) has issued a circular (Circular No. F. No. 172/IFSCA/Finance Company Regulations/2023- 24/02) on January 5, 2024, outlining the permissible activities for Foreign Companies (FC) and Foreign Units (FU) operating as Credit Institutions. This circular provides guidance on […]

Fund Management Entity (FME) In GIFT City, IFSC Global Overview: The concept of pooled investments can be traced back to the 19th century when investment trusts were established. Investment trusts were closed end funds that issued a fixed number of shares, and they became popular in the United Kingdom and the United States.  The modern

India International Bullion Exchange IFSC Ltd (IIBX) Why was there a need to establish IIBX ?   India is the world’s second largest gold consumer. India imports approx. 842.28 tonnes of gold every year and this number is rising every year. Giving a major boost to India’s aspiration of having its own International Bullion Exchange and paving the

AML Compliance In GIFT City,IFSC Global Overview:   The modern history of AML efforts can be traced back to the 1970s when the international community began to recognize the need for coordinated action against money laundering. The United States was among the first to enact comprehensive anti-money laundering legislation. The Bank Secrecy Act of 1970 (BSA) required financial

Stock broking Entity In GIFT City, IFSC Global Overview:   In the early days, brokers operated as intermediaries, facilitating trades between buyers and sellers. They often conducted business in coffeehouses or other meeting places. Over time, formalized brokerage firms emerged.   Today, stock broking is characterized by global connectivity, algorithmic trading, and the use of sophisticated financial

Permitting (IBCs) and (OECs) To Avail Infrastructure Services From AISP At GIFT City, IFSC Define the word “AISP”, “IBC” and “OEC”:   “International Branch Campus” or “IBC” means: –   campus set up as a branch by a Foreign University on stand-alone basis, or in such other form as may be permitted by the Authority in

International Branch Campuses and Offshore Education Centers In GIFT City, IFSC Global Overview:   The Islamic world saw the establishment of numerous madrasas, centers of learning that provided education in various fields such as science, mathematics, and philosophy. The Industrial Revolution prompted the need for a more structured and standardized education system to meet the demands of an

Ship Leasing In GIFT City,IFSC Global Overview:   Ship leasing has been a significant aspect of the maritime industry for many years. Shipping companies often use leasing arrangements to acquire vessels without the substantial upfront capital investment required for purchasing. Over the years, the popularity of ship leasing has fluctuated based on economic conditions, regulatory changes, and shifts

Unlocking Global Opportunities: The Family Investment Fund (FIF) in Gift City In the dynamic landscape of wealth management, the Indian Family Office now has an unprecedented opportunity to elevate its investment strategy and secure the future legacy of High Net Worth Individuals (HNIs). The recently relaxed regulations under the IFSC (Fund Management) Regulations, 2022, present a golden gateway for

GIFT as a Smart City The Government of India announced in April 2015 that an IFSC would be built in Gujarat Worldwide Finance Tec-City (GIFT City), a Special Economic Zone (SEZ), to enable India to achieve its international financial services potential. The GIFT City International Financial Services Center (IFSC) is crucial for developing an efficient