Quarterly Board meeting
On 15 October 2021, the Mauritius Bankers Association (MBA) held its quarterly Board meeting. We are delighted to welcome a new member, the Bank of China (Mauritius) Limited, represented by its Chief Executive Officer (CEO) Mr. Li Lianhong. The MBA also welcomes Mr. Anoop Nilamber, and Mr. François Gamet as new CEOs of SBM Bank (Mauritius) Ltd and Standard Bank (Mauritius) Limited, respectively.
Mauritius exits FATF list
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. Read our communiqué here: https://mba.mu/mauritius-exits-fatf-list/
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