IFSCA forms committee to explore avenues for ship financing and leasing

GANDHINAGAR : The International Financial Services Centres Authority (IFSCA)— the unified regulator at GIFT City in Gandhinagar — said that it has constituted a committee of experts to explore avenues for ship financing and leasing.

This 11-member committee will be chaired by Vandana Aggarwal, former senior economic advisor to government of India. The committee will examine existing legal, regulatory, tax and other applicable frameworks, along with best global practices and submit its recommendations to IFSCA within a period of three months.

“The IFSCA aims to provide a regulatory framework and facilitative environment so that GIFT IFSC can become an international hub for ship financing and leasing activities, thereby benefiting ship owners, lessors, carriers, ship operators, ship management companies and other stakeholders in the maritime ecosystem,” an official release stated.

The committee will have representatives from Ministry for Ports and Shipping, Directorate General of Shipping, Gujarat Maritime Board, GIFT SEZ, Gujarat Maritime University and IFSCA among others.

Source The Indian Express