Other NBFIs

The financial business activities, as listed in the Second Schedule of the Financial Services Act are:

• Assets Management
• Credit Finance
• Custodian Services (non-CIS)
• Distribution of Financial Products
• Factoring
• Leasing
• Pension Scheme Administrator
• Registrar and Transfer Agent
• Treasury Management
• Credit Rating Agencies/Rating Agencies
• Representative Office (for financial  services provided by a person established in a foreign jurisdiction

This list is not exhaustive and the FSC Rules may provide for other financial business activities.

The FSC ensures, prior to licensing any Non-Banking Financial Institution (NBFI), that the applicant meets the "fit and proper" criteria and fulfils certain prudential requirements and conditions of operations.  Applicants are required to apply rules of corporate governance and adopt clear measures to prevent conflict of interest and to prevent financial crimes and money laundering.

The FSC ensures inter alia that applicants have in place the necessary compliance functions, appropriate internal control measures and continuous internal audit and monitoring system, it has adequate resources in terms of qualified personnel and equipment.

Applying for a licence - Other NBFIs

Register of Licensees