MBA Port Louis

Mauritius exits UK High-Risk Third Countries list

The Mauritius Bankers Association (MBA) has taken cognizance of the United Kingdom (UK) Parliament approval on 1 November 2021, of Mauritius’s exit from the UK’s list of High-Risk Third Countries, effective 2 November 2021. This follows from the country’s exit from the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring earlier in October this year.
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Sortie de Maurice de la liste grise du GAFI

Bonne nouvelle pour le secteur financier: Maurice est désormais hors de la liste grise du Groupe d’Action Financière (GAFI)/Financial Action Task Force (FATF).L’annonce a été faite ce jeudi 21 octobre 2021, lors d’une conférence de presse animée par le Dr. Marcus Pleyer, Président du GAFI, qui a fait état de la détermination et du travail acharné abattu par la partie Mauricienne pour cela.
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Mauritius 4th Enhanced Follow-up Report & Technical Compliance Re-Rating – September 2021

On 7 October 2021, the FATF-Style Regional Body for the Eastern and Southern Africa (ESAAMLG), has posted the 4th Follow-Up Report (FUR) for Mauritius on its website.Overall, Mauritius has made sufficient progress and its technical compliance with the FATF Recommendations has been revised. Mauritius is now Compliant on 26 of the 40 Recommendations, Largely Compliant on 13 and remains Partially Compliant on 1 Recommendation.
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MBA publishes “Transition Away From LIBOR” set of FAQ

On 21 September 2021, the MBA published two Frequently Asked Questions (FAQ) brochures on the London Interbank Offered Rate (LIBOR). These have been prepared by the MBA Working Group on LIBOR, in consultation with the MBA Legal sub-committee. The long form FAQ is aimed at finance professionals & larger businesses, while the standard version targets the public, and small businesses. Member banks would also be uploading the set of FAQ on their individual websites, for clients’ information and benefit.
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