Regulatory Alerts2017-10-12
Guideline on Corporate Governance
Issued by the Bank of Mauritius, this guideline establishes comprehensive corporate governance standards for banks, non-bank deposit-taking institutions, and cash dealers operating in Mauritius. It mandates a board of at least five directors with a minimum forty percent independence, requires the separation of the chair and chief executive officer roles, and prohibits shell financial institutions from operating locally. Financial institutions must establish key sub-committees—including audit, risk management, conduct review, and nomination and remuneration committees—to oversee strategy, compliance, and risk appetite while ensuring clear accountability between the board and senior management.
Share