International Financial Services Centres Authority has issued the IFSCA Banking Handbook COB Directions v6.0. These directions specify the following activities that the Banking Units (BUs) may undertake:
- Acceptance of Deposits.
- Borrowing from and Lending to :Other IBUs, Parent Bank of the IBU, Banks outside IFSC, Lending – Retail.
- Lending – Corporate
- Providing trust services
- Credit enhancement
- Equipment leasing and Hire purchase
- Referral Services
- Factoring and Forfaiting services
- Factoring and Forfaiting services
- Underwriting
- Acting as a portfolio manager
- Providing Investment Advisory service
- Trading and Clearing member of a stock exchange
- Acting as a custodian of assets/securities
- Undertaking Over-the-Counter (OTC) derivative contracts
- Acting as FX Prime Brokerage
- Undertaking remittances
- Operating as an Investment Banker
- Undertaking transfer of loan assets
- Distribution of capital market products
- Participating in an authorised payment system
- Offering Payment services
- Undertaking foreign exchange transactions
- Global Administrative Office (GAO)
- Trading & Clearing in Precious Metals Spot and OTC Derivatives Contract
- Operating as a Foreign Portfolio investor (FPI)
- Operating as an Eligible Foreign Investor (EFI)
