covid-19

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MBA November Newsletter

During the Covid pandemic, one of the key areas of the MBA’s work has been to ensure the orderly access to vaccination for bank employees. Through our membership of Business Mauritius, the MBA was instrumental in obtaining the reinstatement of the EDB’s booking facility. As of 24 November 2021, bank employees can book their vaccination slot via the Economic Development Board. This new mechanism will allow banks, and all private sector operators, to plan for an orderly 3rd dose vaccination. The MBA supports the national vaccination programme, and encourages employees across the banking sector to get vaccinated.
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Bonnie Qiu: “FX deposits remained stable despite Covid-19 crisis”

Cover Story: In spite of the crisis, the banking sector has remained resilient, states the CEO of HSBC and Chairperson of the Mauritius Bankers Association. For instance, as at end of March 2021, banks’ capital adequacy ratio stood at 18.7%, comfortably above the regulatory minimum 11.9%. Similarly, the quality of assets remains good with non-performing loan ratio standing at 5.0%. In the interview below, Bonnie Qiu also talks about the interconnectedness between the banking sector and global business and expresses confidence that Mauritius will soon be removed from the European union’s blacklist.
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Port Louis View

MBA 2021 Budget Memorandum

On Wednesday 21 April 2021, the Mauritius Bankers’ Association Limited (MBA) met with the Minister of Finance, Economic Development and Planning, in the context of the pre-Budget Consultation exercise, and presented our 2021 Budget Memorandum. The theme for the MBA’s 2021 Budget Memorandum is Preserving Investor Confidence and Boosting Growth.
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