IFSCA – Circular on Consumer Charter by Regulated Entities in the International Financial Services C

The International Financial Services Centres Authority (IFSCA / Authority) has issued a Circular bearing F. No. IFSCA-LPRA/4/2025-Legal and Regulatory Affairs dated May 08, 2026 (“Circular“), regarding the adoption and publication of a Consumer Charter by regulated entities in the International Financial Services Centre (IFSC).

The Circular has been issued with the objective of strengthening consumer protection across the financial services market in the IFSC and ensuring market integrity. In this regard, IFSCA has published a Consumer Charter on its website setting out its vision and mission for the protection of financial consumers, along with the rights and responsibilities of such consumers.

Key Highlights

• The Consumer Charter sets out IFSCA’s vision and mission for protecting the interests of financial consumers and outlines their rights and responsibilities.
• Adoption of the principles contained in the Consumer Charter by all Regulated Entities (REs) operating in the IFSC will promote integrity, accountability and consumer-centric practices.
• All REs dealing with retail consumers are encouraged to develop and publish a Consumer Charter on their GIFT IFSC entity website or provide a link redirecting users to the Consumer Charter available on a dedicated webpage of any of their group entities.
• For the purpose of this Circular, the terms “retail consumer” and “group entity” shall have the same meanings as assigned under the IFSCA Circular on Complaint Handling and Grievance Redressal dated December 02, 2024.
• Consumer Charters should include, among other things:
  
  • Vision and mission relating to consumer protection.
  • Rights and responsibilities of consumers.
  • Essential do’s and don’ts for consumers.
  • Consumer-centric provisions based on the nature of business,
    operational model, product complexity and delivery channels.
  • Measures to ensure fair, transparent and responsible conduct
    towards consumers.
• REs may suitably adopt the IFSCA Consumer Charter with necessary modifications based on their business activities.
• The Circular has been issued under Sections 12 and 13 of the International Financial Services Centres Authority Act, 2019, and comes into force with immediate effect.

A copy of the Circular is attached herewith for your ready reference.

Source Category: IFSC Insurance Office