Advocacy efforts

FATF on-site inspection

The on-site visit from the Financial Action Task Force (FATF) Africa/Middle East Joint Group delegation will be held from 13 to 15 September 2021. The inspection represents the final stage of the FATF ICRG process, and will look to validate the progress reports submitted by Mauritius since its inclusion on the FATF list in February […]
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FATF on-site visit

A delegation from the Financial Action Task Force (FATF) Africa/Middle East Joint Group conducted an on-site visit in Mauritius from 13 to 15 September 2021. The objective of the on-site visit was to assess the effective implementation of necessary legal, regulatory and operational reforms, as recommended by the FATF. As part of their visit, the […]
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MBA Retail Sub-Committee

The MBA held its Retail Sub-Committee on 8 September 2021. Several issues were discussed in raising the level of retail banking generally, in relation to improving customer experience, access to banking services, technological developments and prevention of financial crime and fraud. Members also discussed the implementation of recent government measures, such as the home ownership […]
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Meeting – Tourism Authority

On 5 September 2021, the Chairperson and CEO of the MBA met with the Chairperson and senior officers of the Tourism Authority (TA). The TA is committed to implementing a number of initiatives to embed sustainable practices within the Tourism industry, such as the phasing out of combustion engines for commercial pleasure craft. The support […]
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SIRESS system upgrade

As part of its membership of the SADC Banking Association, the MBA is involved in the upgrading of the current SIRESS payments system as it migrates to ISO 20022. The MBA is liaising with members currently supporting the SIRESS system in relation to this project.
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MCCI Annual Meeting

On 19 August, the Mauritius Chamber of Commerce and Industry held its annual general meeting. Owing to the current sanitary restrictions, the AGM was held in a hybrid format. The MCCI is the oldest private sector institution in Mauritius, having been established in 1850 by Royal Charter. It actively promotes public-private partnerships, business facilitation, and […]
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Climate risk management session

On 3 August 2021, the Bank of Mauritius hosted the first meeting of the new Task Force on Climate Change. This task forces aims to drive forward the banking sector’s agenda on climate change, especially in relation to climate-related disclosures, risk management, and climate-related financing. As a follow-up to this, the MBA hosted a webinar […]
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SADC Banking Association

On 28 July, the MBA participated in the latest Board meeting of the SADC Banking Association. The SADC BA includes the Banking Associations of all SADC countries, and is unique in that it operates SIRESS, a ZAR-based low-cost payment system, in collaboration with SARB and SADC central banks. Discussions covered ways of improving the SIRESS […]
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FATF Update

At its June 2021 Plenary, the Financial Action Task Force (FATF) made “the initial determination that Mauritius has substantially completed its Action Plan and warrants an on-site assessment to verify that the implementation of Mauritius’s AML/CFT reforms has begun and is being sustained, and that the necessary political commitment remains in place to sustain implementation […]
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