What is the International Financial Services Commission?

The International Financial Services Commission, also known as the “IFSC” or the “Commission” was established by the enactment of the International Financial Services Commission Act (IFSCA) on 3rd May 1999 and brought into force in 2000. The establishment of the IFSC allows Belize to comply with international standards in the structure and administration of its IFSC regulatory and supervisory body.
The IFSC is a premier regulatory body for the offshore industry in Belize and as the regulatory authority, the IFSC’s responsibility under the IFSC Act, is to promote, protect and enhance Belize as an international financial services center and to regulate the provision of international financial services.

The IFSC is currently headed by the Financial Secretary of Belize as Chairman, and has a Director General of the Commission who is the Chief Executive Officer of the Commission. The Director General is the ex-officio Deputy Chairman of the Commission.

IFSC’S Mandate and Core Functions:

The mandate includes:
• Promoting and developing Belize as a center for international financial services;
• Protecting and enhancing the reputation of Belize as an offshore financial center;
• Providing appropriate supervision and regulation of international financial services;
• Formulating policies and providing advice and assistance to the government on the regulation of such services;
• Collecting, storing and disseminating reliable and timely information to interested parties on changes and new trends in these services.

Please see the INTERNATIONAL FINANCIAL SERVICES COMMISSION ACT CHAPTER 272 REVISED EDITION 2011

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