Financial Crime World

Mauritius’ Banking Regulations and Laws: A Crucial Framework for Sustainability

A recent study published in the International Journal of Law and Management highlights the need for a comprehensive regulatory framework on green banking in Mauritius. Despite the lack of a robust legal structure, the country has some existing guidelines and regulations that can be built upon.

Researchers from Emerald Publishing Limited analyzed the current legal framework on green banking in Mauritius using a black-letter approach, also conducting a comparative analysis with countries like Bangladesh, Indonesia, Pakistan, and the UK. The study reveals that Mauritius lacks a comprehensive regulatory framework for green banking, making it essential to develop one.

Recommendations

The researchers recommend establishing:

  • A guideline or legal framework for green banking
  • A Sustainable Finance Policy
  • Compulsory environmental reporting and disclosures

These measures would contribute to the preservation of the environment by highlighting the importance of eco-friendly initiatives by financial institutions.

Importance of Eco-Friendly Initiatives

According to the study, Mauritius lacks a comprehensive regulatory framework for green banking. The authors argue that their research is among the first on green banking laws in the context of a developing country like Mauritius, and its findings can benefit not only academics but also the wider community.

Key Findings and Recommendations

  • Developing a green standard rating
  • Establishing a Task Force on Climate-related Financial Disclosure guideline
  • Creating a legal binding framework for issuance of bonds

The study emphasizes that these measures are crucial to ensure sustainability and contribute to the country’s environmental preservation efforts.

Conclusion

The article, titled “Green Banking Laws and Regulations in Mauritius: A Comparative Study with Other Countries’ Policies”, concludes that developing a comprehensive regulatory framework for green banking is crucial to ensure sustainability and contribute to the country’s environmental preservation efforts.