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.
The Finance (Miscellaneous Provisions) Bill 2021
On 16 July 2021, the Bill was made public by the Minister of Finance, Economic Planning and Development. On 20 July 2021, the Bill was introduced at the National Assembly. The object of this Bill is to provide for the implementation of measures announced in the Budget Speech 2021-2022 and for matters connected, consequential and incidental thereto. The Bill will bring amendments to several existing legislations, including those regulating the Financial Services industry, that is, the Bank of Mauritius Act, the Banking Act, the FIAMLA, the Ombudsperson for Financial Services Act, the UN Sanctions Act; amongst others.