The International Financial Services Centres Authority (IFSCA) on October 14, 2022 has issued International Financial Services Centres Authority (Finance Company) Regulations, 2021. This is as amended up to July 01, 2022 and shall come into force on October 14, 2022.
The following has been stated namely: -
• The Registration Requirement for the process of Setting up a Finance company
• The Prudential Regulatory Requirements such as the Capital ratio, Liquidity Coverage Ratio, etc.
• The permitted core and non-core activities that a Finance company may undertake
• Schedule which states the activity and the minimum owned fun required for the activity
