Public Consultation on draft Framework for treasury activities

IFSCA has invited Public Comments on Consultation paper on proposed revised ‘Framework for undertaking Global/Regional Corporate Treasury Centres activities by Finance Company/Unit in IFSC‘. The comments suggest that applicant shall submit an application to the Authority, for grant of Certificate of Registration, in the format and in the manner as may be specified by the Authority. Transparency in costs prevents confusion during application. DIFC regulatory framework mandates transparency in financial obligations, including fees for Treasury Centres. The applicant, at the time of application, shall provide a list of the group entities it intends to serve including information about:

1. The nature of the relationship between the applicant and each entity, or the relationship between the parent of the applicant and each entity;
2. The jurisdiction in which each entity is incorporated and operates;
3. The activities that each entity is undertaking in that jurisdiction;
4. The activities proposed to be undertaken by GRCTC for or on behalf of each entity.