IRDAI signs MoU with IFSCA

Insurance Regulatory and Development Authority of India (IRDAI) recently signed a Memorandum of Understanding (MoU) with International Financial Services Centres Authority (IFSCA) for cooperation and coordination with respect to exchange and sharing of information, knowledge for effective supervision.

The MoU was signed to ensure that the operations of regulated entities under their respective jurisdictions wereprudently conducted. Both organisations will work on technical cooperation and assistance in areas of mutual interest;to exchange information for consultation, development and enforcement, apart from capacity building initiatives; and to extend assistance to each other in performing supervisory functions effectively in their respective jurisdictions.