Regulatory Alerts2026-01-06
Guidelines on Outsourcing by Financial Institutions
The Bank of Mauritius mandates all licensed financial institutions to implement a comprehensive risk management framework for outsourcing third-party service providers. Institutions must classify activities into material, non-material, and core tiers, securing prior Bank authorization for material outsourcing while maintaining robust due diligence, contractual safeguards, and contingency planning. The guidelines require continuous board and senior management oversight, explicit regulatory access in service agreements, strict confidentiality protections, and annual reporting to ensure operational stability and customer redress.
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