Financial Crime World

Mauritius Regulatory Requirements for Financial Institutions: A Key to Sustainable Growth

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Mauritius has made significant strides in transforming into a high-income economy by establishing a robust regulatory framework for financial institutions. At the heart of this effort is the Economic Development Board (EDB), which aims to ensure coherence and effectiveness in implementing policies that drive sustainable and inclusive growth.

Capacity Building and Training

The Financial Services Institute Ltd (FSI) plays a crucial role in capacity building within the sector, providing high-quality training programs designed to enhance skills and knowledge. The agency is autonomous, set up by the Government of Mauritius to meet its mission.

  • Provides training programs for financial institutions to enhance skills and knowledge
  • Autonomous agency established by the Government of Mauritius

Financial Intelligence and Information Sharing

The Financial Intelligence Unit (FIU) serves as the central agency for requesting, receiving, analyzing and disseminating financial information related to suspected proceeds of crime, money laundering offenses and terrorist financing activities.

  • Requesting, receiving, analyzing, and disseminating financial information related to crime, money laundering, and terrorist financing
  • Central agency for coordinating efforts in combating financial crimes

Tax Collection and Management

The Mauritius Revenue Authority (MRA) is responsible for managing an efficient revenue-raising system, administering and collecting taxes due in the country within a unified organizational structure. The institution has been instrumental in driving economic growth through effective tax collection and management.

  • Manages an efficient revenue-raising system
  • Administers and collects taxes due in the country
  • Instrumental in driving economic growth

Monetary and Financial Stability

The Bank of Mauritius, the central bank, remains committed to promoting and maintaining monetary and financial stability in the country. Its primary goal is to ensure that the country’s economy operates smoothly and efficiently.

  • Promotes and maintains monetary and financial stability
  • Ensures the country’s economy operates smoothly and efficiently

Integrated Regulation

The Financial Services Commission (FSC) serves as an integrated regulator for the non-bank financial services sector and global business, overseeing the sector to ensure compliance with regulatory requirements and promote a stable and efficient market.

  • Regulates the non-bank financial services sector and global business
  • Ensures compliance with regulatory requirements
  • Promotes a stable and efficient market