Regulatory Alerts2021-06-01
Added · Updated
National Payment Systems (Authorisation and Licensing) Regulations 2021
The Bank of Mauritius issued the National Payment Systems (Authorisation and Licensing) Regulations 2021 to establish a comprehensive framework for granting authorisations and licences to operate payment, clearing, or settlement systems and act as payment service providers. Licensees must satisfy fit-and-proper criteria for directors and senior officers, maintain prescribed minimum capital, ensure a physical presence in Mauritius, and pay annual fees to automatically renew their authorisations. The central bank retains broad supervisory powers to amend conditions, suspend or revoke licences for non-compliance or public interest reasons, and enforce remedial actions to protect participants and the public.