Fund accounting services provider - Basiz Fund Services, today received authorisation from the unified regulatory body - the International Financial Services Centres Authority or IFSCA, to be registered as an ancillary service provider and open branch in Gujarat International Finance Tec-City (GIFT) City. Basiz Fund Service, Ops Fund Services, as well as Ops Global Capital Advisors ventures are a part and affiliates of Ops Global, Singapore. According to a statement shared by the company, the authorisation will allow the entities to offer a complete range of professional services to the Alternative Investment Fund or AIF industry.
Additionally, the authorisation will also allow offering services related to the compilation, preparation, and review of the financial statements, book-keeping, accounting services, as well as secretarial and compliance services.
Ops Global, Singapore, has business interests across the world in areas specific to fund administration services, fund accounting, proprietary investments, tax services for India and the USA, as well as software development. The Basiz Fund Services Group is India's sole global fund administrator, according to the statement.
''Regulation is must for better quality of service and standards. To us, association and participation in IFSCA, is also part of Atma Nirbhar Bharat Program. For years, we have always been in the Made in India for the World methodology. IFSCA has been most proactive in the entire process of our application with a business-oriented approach,'' said CA Aditya Sesh, Founder and Managing Director, Basiz Fund Service.
The fund administrator Basiz Fund Service is the first such administrator to be licensed for opening a branch in the Gujarat International Finance Tec-City or GIFT City, located in Gandhinagar. Gujarat's GIFT City is the country's first operational greenfield smart city as well as international financial services centre. It is basically a business district near Gandhinagar, which the state government promoted as a greenfield project.