Regulatory Alerts2018-12-20
Public Notice on Improving Customers' Banking Experience
The Bank of Mauritius has issued binding instructions to all licensed banks and directed the Mauritius Bankers Association to implement specific measures aimed at enhancing transparency and accessibility for retail customers. These directives mandate clear disclosure of fees, penalties, and interest calculation methods, while capping administrative charges for returned cheques, standard document copies, and loan contract withdrawals. All licensed banks must fully implement these standardized practices by 14 January 2019 to deliver simplified, more inclusive banking services across the domestic market.
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