In 2001, the Mauritius Bankers Association (MBA) changed its status to that of a company and was thus incorporated under the Companies Act as a non-profit making public company, limited by guarantee. Following the coming into effect of a new Banking Act, in 2004, which provides for a single banking licence, all offshore banks joined the MBA as from September 2005.
The objects of the MBA are :
- The protection, development and representation of the rights and interests of its members and the support of the interests of its members in their relations with Governmental or other public institutions;
- The provision of a platform to facilitate the study of all questions and problems relating to the business of banking and finance;
- The establishment and promotion of conditions conducive to competitive, responsible and profitable banking and finance business;
- The encouragement of the study of questions affecting the science of banking and finance and any other field related to the banking and finance business;
And, generally, the performance of any other acts which may be incidental or conducive to the above objects.