Mauritius Bankers Association (MBA)Mauritius Bankers Association (MBA)Mauritius Bankers Association (MBA)

Financial Literacy

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Financial literacy plays a very crucial role in the growth and development of an economy. It helps in enhancing consumers’ financial knowledge on banking concepts enabling them to make informed decisions/ choices to improve their financial well-being.

On 19 January 2015, the MBA embarked on a Financial Literacy Program to promote financial education across the population.

The objectives of the MBA’s Financial Literacy Program are to:

  • Increase consumers’ financial awareness on the different types of services and products banks offer, emphasizing their characteristics, the related benefits and associated risks as well as the rights & obligations of customers and bankers; and
  • Promote greater understanding of the role and functions of banks and their economic and social contribution.
Financial Literacy - Mauritius Banker Association

Online Banking

Use of digital channels

Situations like the Covid-19 pandemic have accelerated the digital migration of banks, and customers. The MBA’s financial awareness tips on the use of digital channels aim at addressing the following questions:  How does it work? What are the services...
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Online Security

Credit Card Use

Cards are very convenient means of payment in our everyday life when we go shopping, at the supermarket, at the library and at any outlet that allows cards to be used.  Two types of cards are frequently used-debit cards and credit cards. The number of debit...
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Cybersecurity

The use of security software increases protection of your devices for safer mobile banking & internet banking transactions. These are also the most convenient, and safest ways for banking.  The MBA communicates regularly on the importance of security...
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Personal Finance

Opening a bank account

Opening a bank account is the first step to be able to save money and make use of banking services such as ATMs, cards, Internet Banking, and Mobile Banking, for example. Opening a bank account can involve the following three steps: STEP 1. Before opening a...
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Borrowing

Borrowing is one of the solutions to help you purchase the items you need, and banks offer a variety of ways to borrow money. There are some important questions to ask yourself before doing so: Do you need to spend the money? Are there other ways of financing...
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Managing your finances: Budgeting

Budgeting lies at the foundation of every financial plan. Creating a budget for managing your finances can help you priorities and understand your expenses, review your spending patterns, and uncover ways for more savings; in order to pay off any debts you...
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