News
Mauritius fully opened its borders to vaccinated international travellers on 1 October 2021, after a two-phased partial reopening strategy. Further relaxation of COVID-19 measures around the island also came into effect on the same date. The MBA recommends the continued use of digital channels for safety, and convenience.
Insolvency Legislation
The MBA has been invited to be part of a Working Group (WG) at the level of the Ministry of Finance. A first meeting of the WG was held on 24 September 2021. The mandate of the WG is to review and amend the current Insolvency Legislation, in light of reforms proposed by the World Bank. The MBA’s role is to ensure effective implementation of changes from an economic and financial stability perspective.
Development of Secondary markets
The MBA is part of a Working Group (WG) with the Bank of Mauritius, and the Ministry of Finance, on the development of secondary markets for bonds. A first meeting was held virtually on 16 September 2021, comprising representatives of member banks, the Bank of Mauritius, the Ministry of Finance, insurance and pension sectors. Several suggestions were made by the MBA and its members, such as the introduction of a 7-year bond, issuance of USD bonds and Floating Rate Notes, mechanisms to normalise the pricing of bonds and yield in the current low-rate/high-liquidity environment, as well as a market survey.
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