Gandhinagar: The International Financial Services Centre (IFSC) at Gujarat International Finance-Tec City (GIFT IFSC) has entered into a Memorandum of Understanding (MOU) with National Institute of Financial Management (NIFM), an autonomous institution of Ministry of Finance, Govt. of India for Skills Development with specific focus on International Financial Services.

As per the Agreement signed in New Delhi, GIFT IFSC and Faridabad based NIFM would work jointly towards developing courses, training and certificate programs in the field of International Financial Services.

The MoU was exchanged in the presence of Minister of State for Finance & Corporate Affairs Arjun Ram Meghwal, who is also the Chairman of IFSC Task Force of Govt. of India for progressing IFSC.
Under this MOU, NIFM will introduce new courses with specific focus on International Financial Services and organize programs for Research Associates/Faculties and Masters/ Degree students that focus on Banking, Insurance, Capital market with respect to IFSC. As a part of this MOU, GIFT and other institutions based out of GIFT IFSC would also try and work with NIFM to develop and conduct relevant knowledge series and programs for financial markets.

Speaking about the development, Mr. Ajay Pandey, MD & Group CEO, GIFT City, said, “We are delighted to enter into an MOU with NIFM, an institute known for its expertise & research in financial markets. International Financial Services Business at GIFT IFSC is showing exponential growth. All the regulators namely RBI, SEBI & IRDAI have issued business regulations which provides for new opportunities for undertaking International BFSI business from GIFT IFSC. This is creating demand for talent that understands the various aspects of an IFSC, such as offshore transactions in Banking, Insurance and Capital Markets. Through this MOU, we would take initiatives that would go long way in establishing talent pool in the country in this emerging field of International Financial Services.”

Ms. Meena Agarwal, Director, NIFM, said, “Our partnership with GIFT IFSC opens new doors for NIFM to gain domain experience on International Financial Services. This MOU with GIFT IFSC will provide opportunity to our students to understand critical aspects of International Financial Services and given them a competitive edge in placement. It will further help us to develop original content and research on international financial services with regards to global transactions. We would also work closely with GIFT IFSC to undertake training programs at GIFT City which would help in developing programs for working professionals in the field of IFSC.”