Regulatory Alerts2008-12-02
Banking (Processing and Licence Fees) (Amendment No. 2) Regulations 2008
The Bank of Mauritius, with ministerial approval, amends the Banking (Processing and Licence Fees) Regulations 2007 to specify how processing and licence fees must be paid. The revised regulation mandates that payments be made in Mauritian currency or any freely convertible currency, calculated using the central bank's consolidated average telegraphic transfer buying exchange rate. This rate is derived from commercial banks' indicative exchange rates prevailing on the day immediately preceding the payment date.
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