The International Financial Services Centres Authority (IFSCA) on September 18, 2026, issued amendment to the Circular titled “Master Circular for Distributors in the IFSC”.
In this regard, upon consideration of the representations received from stakeholders, it has been decided to amend the Master Circular, as under:
• In Chapter - III, after paragraph 5.1, the following paragraphs shall be inserted, namely:–
“5.1A For the purposes of clauses (a) and (c) of sub-regulation (1) of regulation 32 of the CMI Regulations, the following jurisdictions are specified by the Authority:
a) UAE;
b) Singapore;
c) Australia; and
d) European Union
Provided that the aforementioned jurisdictions mentioned in paragraphs 5.1 and 5.1A shall not be identified by FATF as High-Risk Jurisdictions subject to a Call for Action and Jurisdictions under Increased Monitoring or by Central Government as high risk jurisdiction for money laundering, terrorist financing or proliferation financing.”
5.1B For the removal of doubts, it is clarified that for the purposes of sub-regulation (1) of regulation 32 of the CMI Regulations, the reference to term “jurisdiction”, in the context of capital market products and/or services, shall be construed as referring to the jurisdiction of domicile of the capital market products and/or services and not to the jurisdiction in which the entity managing such capital market products and/or services is located.”
It shall come into force with immediate effect.
[Circular No. IFSCA-PLNP/45/2026-Capital Markets]
