The Securities Exchange Board of India (SEBI) through a circular
dated 26 November 2018 has issued operating guidelines (AIF
Guidelines) for Alternative Investment Funds (AIF) in
International Financial Services Centres (IFSC).
Earlier, the SEBI through a notification dated 27 March 2015 had
issued SEBI (International Financial Services Centre)
Guidelines, 2015 (IFSC Guidelines) for facilitating and
regulating financial services relating to securities market in
an IFSC set up under Section 18(1) of Special Economic Zones,
2005. The GIFT i.e., Gujarat International Finance Tec-City has
been set up as India’s first IFSC.
Some of the key issues addressed in the AIF Guidelines are set out below: