Amendment to the Circular titled “Exempting certain entities/activities from the applicability of International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022
In force — no superseding record on file.
CIRCULAR
F. No. IFSCA-BDev0FSSC/2/2023 19 June, 2026
To All Regulated Entities in the International Financial Services Centre
Subject: Amendment to the Circular titled “Exempting certain entities/activities from the
applicability of International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022”.
Sir/Madam,
Reference may be drawn to the Circular titled “Exempting certain entities/activities from the applicability of International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022” (hereinafter referred to “Exemption Circular”), dated November 18, 2024, issued by the Authority.
- In this regard, upon review, it has been decided that clause 3 of the Exemption Circular shall be modified as follows: “All Financial Institutions, including those exempted under clause 2 above, shall transact or receive the monetary consideration (i.e. funds/fees/amount etc.) emanating from the business transactions only through an account maintained with a Banking Unit in IFSC or an SNRR account.”
- All other provisions of the Exemption Circular shall remain unchanged.
nating from the business transactions only through an account maintained with a Banking Unit in IFSC or an SNRR account.” 3. All other provisions of the Exemption Circular shall remain unchanged.
- This Circular is issued in exercise of the powers conferred by sections 12 and 13 of the International Financial Services Centres Authority Act, 2019, read with rule 9 (14) of the Prevention of Money- Laundering (Maintenance of Records) Rules, 2005, and shall come into force with immediate effect. A copy of this Circular is available on the website of the International Financial Services Centres Authority at https://ifsca.gov.in/Legal/Index/TCce8MyOmco=.
Ankit Bhansali, General Manager Division of AML & CFT, IFSCA
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