IFSCA Banking Handbook – Conditions for opening a Global Administrative Office (GAO) and Representative Office (RO)

LegalitySimplified

International Financial Services Centers Authority vide notification dated 2nd November, 2023 has issued an amendment to IFSCA Banking Handbook – Conditions for opening a Global Administrative Office (GAO) and Representative Office (RO).

The amendment provides that the firms operating a representative office (RO) or a Global Administrative Office in an IFSC shall maintain Banking company’s track record in complying with Anti-Money laundering/Combating the financing of terrorism (AML/CFT) guidelines in its home jurisdiction.

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