Regulatory Alerts2020-08-12
Guideline on Agent Banking
The Bank of Mauritius establishes this guideline to regulate the appointment and operation of agents contracted by banks to deliver banking services on their behalf. It mandates prior written approval, a standardized application process, and strict requirements for confidentiality, risk management, and real-time transaction settlement. The framework delineates permissible agent services, assigns comprehensive oversight and liability to contracting banks, and empowers the regulator with continuous monitoring, reporting obligations, and cancellation authorities.
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