Ship lease shall qualify as financial product under IFSCA Act

The International Financial Services Centres Authority vide notification dated 7th January, 2022 has expanded the scope of the term financial product under International Financial Services Centres Authority. It is clarified that ‘ship lease’ which shall include operating lease, and hybrid of operating and financial lease, of a ship or ocean vessel, engines of ship or ocean vessel, or any other part thereof, as a financial product.

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