International Financial Services Centers Authority (Payment Services) (Amendment) Regulations, 2024
The International Financial Services Centres Authority (IFSCA) has released an updated document of “the International Financial Services Centers Authority (Payment Services) Regulations, 2024” as amended up to 2nd April 2024.
These regulations incorporated the amendment proposed by the International Financial Services Centres Authority (Payment Services) (Amendment) Regulations, 2024 with respect to the definition of escrow services.
The key difference between the definitions of escrow services lies in the number of parties involved in the escrow service and the nature of the transactions they facilitate.
