2. International Financial Centres around the world have historically emerged out of the confluence of economic and political developments. In modern times, while major centres adapted their financial institutions and instruments to intermediate international capital flows, they also came to be seen as vehicles for economic growth and development of the host countries. 3.
To achieve their objectives, it is necessary that the regulatory frameworks governing IFSC operations are well-thought out, guided by the ease of doing business principle, tempered by prudent risk management, and geared to deliver efficient financial services. The various areas of attention from this standpoint include registration and approval process for new entrants, regulation, supervision and resolution of financial entities, and dispute settlement. 4.