FATF

MBA Port Louis
05 Nov 21

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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FATF
03 Nov 21

MBA October Newsletter

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.
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21 Oct 21

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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13 Oct 21

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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04 Oct 21

MBA September Newsletter

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.
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Port Louis View
01 Sep 21

MBA August Newsletter

Capital Economics Report: On 30 August 2021, a report by Capital Economics on the contribution of Mauritian investments into Africa was released. Key findings of the report include that investments from Mauritius account for US$82bn (9% of Foreign Direction Investment into Africa), generate US$6bn annually in tax revenue for African states, and support 4.2 million jobs (which create an additional US$30bn in spending power).
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