Regulatory Alerts2025-08-27
Mauritius Deposit Insurance Scheme Act
Enacted by the Parliament of Mauritius, this legislation establishes a dedicated Deposit Insurance Scheme and Agency to protect insured depositors and ensure financial system stability. The Act requires all licensed banks and non-bank deposit-taking institutions to join the Scheme, pay risk-based premiums into a managed Fund, and submit regular data returns to facilitate compensation payouts. It defines coverage limits for savings, current, and time deposits, grants the Agency powers to recover costs from failed institutions, and implements a phased commencement schedule with core provisions taking effect in December 2023 and June 2024.
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