RegAlertMauritius: lending & credit regulation — 2026-08
RegulatedMauritius: FSC regulates P2P and Money Lending; BoM oversees banks; strict capital and licensing rules apply
Frozen snapshot — the guide as it stood at the end of 2026-08. See the live guide for the current state.
Mauritius maintains a structured regulatory environment for lending. The Financial Services Commission (FSC) directly regulates Peer-to-Peer (P2P) lending platforms and Money Lending businesses under the Financial Services Act 2007. Traditional banks and non-bank deposit-taking institutions are supervised by the Bank of Mauritius (BoM) under the Banking Act 2004. The regulatory stance is formalized, with specific licensing categories, capital requirements, and operational guidelines in place for digital and traditional credit providers.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Consumer lending | LicenceMoney Lending (FS-1.20)[1] Requires FSC license; specific capital not detailed in provided docs | — | — | Financial Services Commission (FSC) |
| SME / commercial lending | LicenceBanking License / Non-Bank Deposit-Taking[2][3] Conducted by licensed banks/non-banks under BoM prudential rules | — | — | Bank of Mauritius (BoM) |
| Microfinance | Uncertainverify with regulator No specific microfinance license category identified in source documents | — | — | — |
| Buy-now-pay-later | Uncertainverify with regulator Not explicitly defined; may fall under Money Lending or Payment Services | — | — | — |
| P2P lending platform | LicencePeer to Peer Lending[4][5] Requires MUR 20m paid-up capital; strict escrow and investor limits apply | MUR 20m | — | Financial Services Commission (FSC) |
| Credit bureau / scoring | Uncertainverify with regulator No specific credit bureau license identified; general data protection applies | — | — | — |
| Debt collection | Uncertainverify with regulator No specific debt collection license identified in source documents | — | — | — |
New — what changed recently
- 2022-01-01Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2022 — Introduced a new Money Lending category (FS-1.20) with specified fees, formalizing the licensing framework for non-bank lenders.[1]
- 2021-01-01Financial Services (Peer to Peer Lending) (Amendment) Rules 2021 — Updated definitions for P2P platforms, replacing 'sophisticated investors' with 'expert investors' and refining escrow account requirements.[5]
- 2020-01-01Financial Services (Peer to Peer Lending) Rules 2020 — Established the initial regulatory framework for P2P lending, including licensing, capital thresholds, and operational limits.[4]
Market-entry checklist
- 1Secure FSC P2P LicenseApply for Peer to Peer Lending license with MUR 20m paid-up capital and establish segregated escrow accounts.
- 2Obtain Money Lending LicenseApply for FS-1.20 Money Lending license via FSC if operating as a non-bank lender.
- 3Implement BoM Prudential RulesAdhere to Bank of Mauritius guidelines on credit classification, provisioning, and concentration risk if banking.
- 4Comply with Data ProtectionRegister with the Data Protection Office and comply with the Data Protection Act 2017 for borrower data.
- 5Establish Credit Risk PolicyDevelop board-approved credit risk policies covering underwriting, collection, and write-offs as per BoM guidelines.
Sources
- Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2022 · 2022-04-01
- Guideline on Classification, Provisioning and Write-off of Credit Exposures · 2024-08-20
- Additional Macroprudential Measures for the Banking Sector · 2022-06-29
- Financial Services (Peer to Peer Lending) Rules 2020 · 2020-08-15
- Financial Services (Peer to Peer Lending) (Amendment) Rules 2021 · 2021-03-06