MBA Newsletters

01 Dec 21

MBA November Newsletter

During the Covid pandemic, one of the key areas of the MBA’s work has been to ensure the orderly access to vaccination for bank employees. Through our membership of Business Mauritius, the MBA was instrumental in obtaining the reinstatement of the EDB’s booking facility. As of 24 November 2021, bank employees can book their vaccination slot via the Economic Development Board. This new mechanism will allow banks, and all private sector operators, to plan for an orderly 3rd dose vaccination. The MBA supports the national vaccination programme, and encourages employees across the banking sector to get vaccinated.

03 Nov 21

MBA October Newsletter

Mauritius was taken off the Financial Action Task Force’s (FATF) list of jurisdictions under increased monitoring, at its latest Plenary meeting held from 19 to 21 October 2021 in Paris, along with Botswana. In the course of this meeting, the list of jurisdictions under increased monitoring was revised, and progress made by various jurisdictions was reviewed. The FATF had recognised the significant progress made by Mauritius in addressing the strategic AML/CFT deficiencies identified earlier and included in its action plan. Mauritius will no longer be subject to the FATF’s increased monitoring process. Since the inclusion of Mauritius on the FATF’s list, the MBA has been active on many fronts, for the speedy completion of the national plan of action. Namely, on the national Anti-Money Laundering (AML) Committee, on Working Groups on Immediate Outcomes 3 & 4 (Supervision & Preventive Measures), with the implementation of Risk-Based Supervision by banks, as well as private sector interviews during the FATF onsite-visit on 13 to 15 September 2021. Mauritius will keep working with the FATF and ESAAMLG, to continue to strengthen its AML/CFT regime.

04 Oct 21

MBA September Newsletter

Mauritius fully opened its borders to vaccinated international travellers on 1 October 2021, after a two-phased partial reopening strategy. Further relaxation of COVID-19 measures around the island also came into effect on the same date. The MBA recommends the continued use of digital channels for safety, and convenience.

01 Sep 21

MBA August Newsletter

Capital Economics Report: On 30 August 2021, a report by Capital Economics on the contribution of Mauritian investments into Africa was released. Key findings of the report include that investments from Mauritius account for US$82bn (9% of Foreign Direction Investment into Africa), generate US$6bn annually in tax revenue for African states, and support 4.2 million jobs (which create an additional US$30bn in spending power).

31 Jul 21

MBA July Newsletter

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 in the future.” On Friday 23 July, Cabinet took note that a delegation from The Financial Action Task Force (FATF) Africa/Middle East Joint Group is looking to conduct an on-site visit from 13 to 15 September 2021 in Mauritius. On Friday 23 July, Mauritian authorities also submitted the latest progress report to the FATF, which will constitute the basis for the on-site inspection.

30 Jun 21

MBA June Newsletter

On Wednesday 21 April 2021, the Mauritius Bankers’ Association Limited (MBA) met with the Minister of Finance, Economic Development and Planning, in the context of the pre-Budget Consultation exercise, and presented our 2021 Budget Memorandum. The theme for the MBA’s 2021 Budget Memorandum is Preserving Investor Confidence and Boosting Growth.

31 May 21

MBA 2021 Budget Memorandum

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