The International Financial Services Centres Authority (IFSCA) of India and the Financial Services Commission, Mauritius (FSC Mauritius) have strengthened their partnership by signing a Memorandum of Understanding (MoU). This significant agreement was formalized during a virtual signing ceremony held on 7 March 2024 and which witnessed the participation of high-level officials from both organizations, alongside notable dignitaries including the Prime Minister of Mauritius and the President of India. The MoU aims to boost the cooperation between the two regulatory bodies to enhance the development, regulation, and supervision of their respective financial markets. It includes the sharing of knowledge, best practices, and information on fintech and regtech innovations. This collaboration is strategically designed to connect the financial services sectors of India and Mauritius, with Mauritius serving as a gateway to Africa and GIFT IFSC acting as a gateway to India and Southeast Asia. Both parties expressed optimism about the potential of this collaboration to facilitate mutual assistance and ensure compliance within their financial sectors.

Access the full press release here