Consultation responses

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Restriction of Property (Non-Citizens) Act

On 29 April 2021, the Non-Citizens (Property Restriction) (Amendment) bill was swiftly enacted, in order to promptly close a material loophole, whereby Foundations could potentially be misused to circumvent the principle of the Restriction of Property (Non-Citizens) Act (RPNCA). While the amendment serves a commendable objective, it brought a number of stringent unintended consequences for […]
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Gambling Regulatory Authority Act

Following the recent amendments brought to the Gambling Regulatory Authority Act 2007, the MBA has held discussions with the relevant authorities for further insight into the implementation of these measures, and their impact on the banking industry.
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Outsourcing and Cloud Computing

An IT Working Group (WG) comprising representatives from member banks ABSA, MCB and MauBank has been set up by the MBA, with a view to brainstorm ideas for a sound regulatory framework for Cloud Computing, and more flexibility with regards to Outsourcing. Proposals made by the WG have been shared with the Bank of Mauritius.
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Article IV Consultation

On Friday 23 April 2021, the MBA participated in this year’s International Monetary Fund (IMF) Article IV consultation, which was held virtually. In the course of this annual exercise, the IMF engages with economic operators and stakeholders on the state of the economy and outlook for different sectors. The MBA shared its views on the […]
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2021 Pre-budgetary consultation exercise

https://www.youtube.com/watch?v=xD0abf6w0J8On Wednesday 21 April 2021, the Chairperson and CEO of the MBA met with the Honourable Minister of Finance, Dr. Renganaden Padayachy, in context of the pre-budgetary consultations. The meeting was a positive, open discussion on measures to boost growth, and how banks can play their role in financing the economic recovery. We presented our […]
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ICTA consultation

The MBA was invited by the Information and Communication Technologies Authority (ICTA) to participate in the consultation exercise around new safeguards to prevent online harm. The MBA takes the issue of online harm seriously, and remains committed to working constructively with regulators to reduce misuse of social media platforms, especially in cases of fraud and […]
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Digital Assets Bill

Further to the first virtual meeting of a Working Group on Digital Assets Bill held on 31 March 2021, the MBA has submitted written submissions on key provisions for improvement of the Bill to the Ministry of Finance. a number of proposals relating to Anti-money laundering (AML) Policy, Prudential norms, Regulation, Supervision, and Consumer protection, […]
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International collaboration

On 8 March 2021, the MBA participated in a webinar with Mr. Alastair Graham, Secretary General of the Global Banking Education Standards Board, an international body set up by 25 leading banking institutes to harmonise training standards internationally, to see how they can support the MBA with professional development for bankers in Mauritius. Mr. Graham […]
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Consultations during the month of February

The MBA has participated in several consultations in February, as part of our Advocacy efforts: The “Guide for the issue of Sustainable bonds in Mauritius” released by the Bank of Mauritius (BoM) has benefited from inputs from the MBA, and the technical support of Standard Chartered Mauritius. This Guide sends a strong signal to the […]
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SME development

The MBA Sub-committee on SME Development met twice to discuss measures to further support SMEs. A number of proposals were made, which the MBA will be submitting to the Ministry of Finance as part of budget consultations. Some key elements include: additional capital of SME Equity Fund; SME Guarantee fund, Angel investor scheme, and Venture […]
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