IFSCA and IICA Forge Partnership to Boost Financial Governance in India
In a pivotal move to enhance India’s International Financial Services ecosystem, the International Financial Services Centres Authority (IFSCA) has entered into a significant partnership with the Indian Institute of Corporate Affairs (IICA). This historic Memorandum of Understanding (MoU) was signed on February 20, 2026, at the IFSCA Campus located in GIFT City, Gujarat. The signing ceremony featured the presence of Shri Gyaneshwar Kumar Singh, the Director General & CEO of IICA, and Shri K. Rajaraman, Chairperson of IFSCA, alongside senior representatives from both organizations and esteemed guests.
As the unified regulatory body overseeing India’s International Financial Services Centre, IFSCA manages a rapidly evolving landscape of financial institutions governed by the Companies Act, 2013, under the Ministry of Corporate Affairs. The IICA, serving as a leading think tank, aims to bolster corporate governance, enhance regulatory capacities, and provide policy advisory services.
Collaboration Goals and Capacity Building
The newly established MoU aims to create a robust framework for collaboration between IFSCA and IICA, targeting capacity development, policy research, and knowledge-sharing initiatives. Both organizations aspire to enhance regulatory efficiency and strengthen corporate governance standards specifically in GIFT-IFSC.
IICA is set to extend vital training and policy assistance to IFSCA and entities registered within the IFSC. This will support compliance with the changing regulatory landscape and international governance practices. As part of this initiative, IICA will conduct a variety of online training programs, including certificate courses and specialized sessions that cover critical areas such as Corporate and Allied Laws, Corporate Governance, Environmental, Social and Governance (ESG) factors, and Cross-Border Transactions and Restructuring.
Voices from the Leadership
In his address during the signing, Shri Gyaneshwar Kumar Singh expressed enthusiasm for the collaboration, emphasizing the importance of establishing a standardized corporate governance framework. He highlighted that the immediate priorities include launching tailored capacity-building programs, leadership development initiatives, and providing policy research and advisory support.
Shri K. Rajaraman, Chairperson of IFSCA, acknowledged IICA’s impactful programs and discussed the action plan for collaboration. He noted the necessity for annual corporate governance programs at GIFT City, including specialized courses for new companies set to operate under the IFSC jurisdiction.
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