MBA May Newsletter

News

The National Budget 2021-2022 will be presented to the National Assembly on 11 June 2021, at 17:00, by the Minister of Finance, Economic Planning and Development, Dr. Renganaden Padayachy. The MBA has submitted its 2021 Budget Memorandum titled ‘Preserving Investor Confidence and Boosting Growth’, to the Minister during a meeting held on 21 April 2021. It proposes concrete measures which would:

  • preserve the stability of the financial services sector
  • enable banks to further support key sectors of the economy
  • boost growth
  • help Government raise funding in a sustainable and cost-efficient manner

 

FATF update

The Joint Group of the Financial Action Task Force’s (FATF) International Co-Operation Review Group (ICRG) held its virtual face-to-face meeting with Mauritian authorities on 12 May 2021, to review the latest progress report submitted by Mauritius. While it is understood that work is progressing on schedule, with technical support from the Eastern and Southern Africa Anti-Money Laundering Group (the regional FATF-style body of which Mauritius is part), and a number of EU countries, an official update is expected shortly  after the next FATF Plenary in June 2021.