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Mauritius’ FSC and UK’s FCA sign MoU 30-04-2018

The Financial Services Commission (FSC) of Mauritius and the Financial Conduct Authority (FCA) of the United Kingdom signed a Memorandum of Understanding (“MoU”) on 10th April 2018.   The MoU establishes a formal framework for mutual collaboration in the fields of financial services, information exchange and investigative assistance relating to the superv ...

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Mauritius updates data protection legislation to align with GDPR 30-04-2018

Privacy is considered to be an inte
ational fundamental human right and it has become imperative for us to protect it given its vulnerable nature.   The GDPR was adopted by the European Union in 2016, with the aim to better protect EU citizens from privacy and data breaches. Aimed at data controllers and processors who process personal data on EU individuals, the GD ...

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Mauritius and China kick-off FTA talks 30-04-2018

Earlier this month, Mauritius and China kicked off the first round of negotiations on the Mauritius-China Free Trade Agreement (FTA) at Balaclava, Mauritius.   The first ever FTA between China and an Africa State, this agreement will no doubt bring significant developments in the bilateral trade and investment relations, and further deepen economic cooperation betwee ...

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World Happiness Report 2018: Mauritius ranks 1st in Africa and 55th worldwide 30-04-2018

The World Happiness Report 2018 ranks Mauritius 1st in Africa and 55th worldwide. With a score of 5,981 points, Mauritius has taken the first place in Africa, moving from its second place last year and overtaking Algeria which was then in top position for the continent.   At the global level, Scandinavian countries top the list, with Finland in the lead (7.632 points ...

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FDI into India: Mauritius remains the first source with USD 13.3 for the period April-December 2017 30-04-2018

According to a recent release from the Department of Industrial Policy & Promotion (DIPP) of the Ministry of Commerce and Industry of India, Mauritius remains the first source of FDI to India for the period from April to December 2017. Mauritius thus reaffirms its position as one of the preferred platforms for investments into India.   India received a total FDI ...

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Monetary Policy Committee maintains Key Repo Rate at 3.50% 30-04-2018

The Monetary Policy Committee (MPC) of the Bank of Mauritius decided to keep the key repo rate (KRR) unchanged at 3.5%, at its meeting held on 28th February 2018.   This decision was taken after consideration of various elements. The MPC noted that although domestic inflation has gone up since its last meeting, the core measures of inflation had remained low. The Ban ...

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The SelfKey Foundation obtains a Regulatory Sandbox License in Mauritius 12-02-2018

  Selfkey, a blockchain-based digital identity firm which allows exchange of information, transactions, and crypto currency portfolios to have their database of verified documents and to keep sensitive information secure, has been granted a Regulatory Sandbox Licence by the Board of Investment (now under the Economic Development) in Mauritius.   The Founder of ...

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FDI to Mauritius increase to MUR 12.3 billion (January-September 2017) 12-02-2018

  The latest statistical release from the Bank of Mauritius (BOM) reveals a surge in inward Foreign Direct Investment (FDI) to Mauritius for the first three quarters of 2017, with FDI inflows reaching a total of MUR 12.3 billion. This amount represents an increase of 16% compared to MUR 10.6 billion registered for the previous corresponding period.   The top 3 ...

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Regulatory committee for Fintech and Innovation launched at the Financial Services Commission (FSC)  12-02-2018

  The Mauritius Inte
ational Financial Center has gained a solid reputation as a well-regulated and transparent jurisdiction, and in a continuous effort to maintain the Mauritius Inte
ational Financial Center as a leading jurisdiction worldwide, the country is now looking into the development of innovative financial services and of the Fintech industry.   &nb ...

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SBM Holdings: First foreign bank to be granted a Wholly Owned Subsidiary Licence by the RBI 12-02-2018

  SBM Holdings, one of the main local banks in Mauritius, has successfully applied for and been granted a Wholly Owned Subsidiary Licence, for the operation of a subsidiary in India, by the Reserve Bank of India (RBI).  It was previously operating as a branch of SBM Bank (Mauritius) Ltd in India for the past 20 years.   SBM Holdings becomes the first forei ...

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