India's first International Financial Services Centre (IFSC) at Gujarat International Finance-Tec City (GIFT) on Wednesday entered into an agreement with Gujarat National Law University (GNLU) to collaborate on efforts for Skill Development in the field of International Financial Services & Regulations.

Under the memorandum of understanding (MoU), GNLU will introduce a new course on International Financial Services Centre from its June 2017 Semester. It will also organise a program for Lawyers covering IFSC, International Arbitration and related fields.

As per the agreement, GIFT IFSC and GNLU would work jointly towards courses, training and certificate programmes in the field of International Financial Services law and promote the deeper acceptance of financial laws in the global financial markets.

Dipesh Shah, Head – IFSC and Strategy, GIFT IFSC, said, "IFSC being a new concept in India, there’s a pressing need to enhance understanding of various aspects of IFSC, one of which is financial laws. Through this MOU, we hope to help edify law professionals on IFSC rules, arbitration and regulations concerning global financial transactions. Our aim is to reach out to all relevant stakeholders in India and make them proficient in this relatively new field of financial law."

The MoU will also look into developing and conducting programmes in financial markets along with GIFT and other institutions based out of GIFT IFSC.

Bimal Patel, Director, GNLU, said, "We would the first university in India to start a regular course on IFSC. This will also provide hands on international experience in financial law to our students and given them a competitive edge in placement.”

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