IFSCA & NISM Partner for Financial Sector Capacity Building

New Delhi, May 2 (PTI) The International Financial Services Centres Authority (IFSCA) and the National Institute of Securities Markets (NISM) on Friday inked a pact to advance capacity building in the financial sector.

As part of the agreement, NISM will act as a training partner for IFSCA and the various intermediaries registered with IFSCA, the markets regulator Sebi said in a statement.

Also, NISM, a public trust established by Sebi, will conduct relevant certification examinations, including certification examinations mandated under the IFSCA Regulations, for the intermediaries registered with IFSCA.

These skill development, professional training and certification programmes will ensure that the highest professional standards are maintained in the IFSCA ecosystem.

"With a proven track record of over a decade, NISM is uniquely positioned to support the needs arising out of the burgeoning growth being seen at IFSCA," the regulator said.

This Memorandum of Understanding (MOU) will be mutually beneficial to both entities as IFSCA will be able to leverage NISM's capacity building and certification expertise and NISM will benefit from the learnings arising out of servicing an international financial platform.

The MOU was signed in presence of Sebi chairman Tuhin Kanta Pandey and IFSCA chairman Kalyanaraman Rajaraman.