Regulatory Alerts2025-08-27
The Bank of Mauritius Act 2004
The Parliament of Mauritius enacted Act 34/2004 to establish the Bank of Mauritius as an independent central bank responsible for maintaining price stability and promoting balanced economic development. The legislation empowers the Bank to conduct monetary policy, manage the rupee exchange rate and official foreign reserves, regulate financial institutions as a macroprudential authority, and hold the sole right to issue legal tender currency. It establishes a Board of Directors alongside dedicated Monetary Policy and Financial Stability Committees, while granting the Bank comprehensive powers to supervise financial markets, manage government accounts, enforce compliance through directives, and operate a banking services review panel.
Share