Bank of Mongolia (BOM)

Enacted by the Parliament of Mauritius, this legislation establishes a Financial Intelligence Unit (FIU) and defines comprehensive money laundering offences to safeguard the national financial system. It mandates reporting persons, auditors, and regulatory bodies to implement customer due diligence, maintain records, and submit suspicious or cash transaction reports to combat money laundering and terrorism financing. The Act further empowers supervisory authorities to conduct inspections, issue directions, impose administrative sanctions, and exchange information domestically and internationally through a dedicated review panel and national committee.

Enacted by the Parliament of Mauritius, this Act establishes a comprehensive legal framework to implement targeted United Nations Security Council sanctions across the jurisdiction. It mandates financial prohibitions, including freezing orders on designated and listed parties' funds and economic resources, while simultaneously enforcing arms embargoes and travel bans. The legislation creates a National Sanctions Committee and Secretariat to designate parties, manage delisting requests, enforce reporting obligations by financial institutions, and coordinate cross-border compliance with UN resolutions.

The Government of Mauritius enacted this Act to establish an independent Office of Ombudsperson for Financial Services tasked with protecting consumers and adjudicating disputes against licensed financial institutions. The legislation grants the Ombudsperson broad investigative and mediation powers to issue binding compensation awards, request information from institutions, and refer financial fraud to the central bank or relevant regulators. It further requires financial institutions to prominently display the Ombudsperson’s contact details, comply with data and procedural directives, and maintain strict confidentiality while officers discharge their duties.

Enacted by the Parliament of Mauritius and assented to on 8 May 2008, this legislation consolidates and modernizes the legal framework governing public loans, Treasury bills, bonds, sovereign sukuks, and government guarantees. It vests the Minister with sole authority to raise funds domestically and internationally, establishes a statutory public sector debt ceiling of 75 percent by fiscal year 2030 and 60 percent thereafter, and mandates a comprehensive debt management strategy with quarterly reporting. The Act repeals the Loans Act, Bonds Act, and Government Guarantees (Development Purposes) Act while preserving outstanding instruments until redemption and requiring all public sector entities to submit regular debt data to the Ministry.

The Parliament of Mauritius enacted this Act to implement the International Convention for the Suppression of the Financing of Terrorism by criminalizing the wilful provision or collection of funds and assets for terrorist purposes. The legislation establishes a three-year minimum penal servitude penalty, grants courts authority to seize, restrain, and forfeit terrorist property, and expands jurisdiction to cover offences committed domestically, aboard Mauritian vessels or aircraft, and by nationals abroad. Additionally, the Act designates financing of terrorism as an extraditable offence and empowers the Minister to make supplementary regulations for its administration.

The Parliament of Mauritius enacted this legislation to establish the Financial Crimes Commission as the apex national agency for detecting, investigating, and prosecuting financial crimes. The Act consolidates corruption, money laundering, fraud, and drug dealing offences while granting the Commission extensive investigative powers and comprehensive civil and criminal asset recovery mechanisms. It further defines the Commission’s administrative structure, establishes oversight committees, mandates inter-agency cooperation through a National Coordination Committee, and introduces unexplained wealth proceedings to combat illicit enrichment.

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.

The Bank of Mauritius enacted this Act to establish a comprehensive regulatory framework for licensing, capitalizing, and supervising banks and other financial institutions operating in Mauritius. It mandates minimum capital and liquid asset holdings, operational limits on risk concentration and investments, and strict governance standards for directors and senior officers across conventional, Islamic, digital, and private banking sectors. The legislation further integrates anti-money laundering protocols, regulatory sandboxes for fintech experimentation, and structured conservatorship and liquidation procedures to ensure systemic stability and customer protection.

Enacted by the Parliament of Mauritius, this legislation designates the Bank of Mauritius as the primary regulatory authority responsible for regulating, overseeing, and supervising national payment systems to ensure their safe, secure, efficient, and accessible operation. The Act establishes a comprehensive authorization and licensing framework for payment system operators and service providers while mandating transparency of fees, clear disclosure of terms, and robust consumer complaint mechanisms. It further empowers the central bank to issue directives, conduct regular examinations, enforce anti-money laundering compliance, and guarantees legal certainty regarding settlement finality, collateral arrangements, and the precedence of system rules over general insolvency law.

Enacted by the Parliament of Mauritius, this legislation establishes a dedicated Deposit Insurance Scheme and Agency to protect insured depositors and ensure financial system stability. The Act requires all licensed banks and non-bank deposit-taking institutions to join the Scheme, pay risk-based premiums into a managed Fund, and submit regular data returns to facilitate compensation payouts. It defines coverage limits for savings, current, and time deposits, grants the Agency powers to recover costs from failed institutions, and implements a phased commencement schedule with core provisions taking effect in December 2023 and June 2024.

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.

The Bank of Mauritius issued these regulations to establish a comprehensive authorization and licensing framework for payment, clearing, settlement systems, and payment service providers operating in Mauritius. Licensees must satisfy strict eligibility criteria regarding fit and proper directors, financial resources, physical presence, and minimum capital while adhering to prescribed application procedures, annual fees, and governance standards. The central bank retains the authority to grant, suspend, or revoke licenses based on compliance and operational soundness, with specific provisions governing electronic money issuance, trust account management, and customer fund protection.

The Bank of Mauritius, with the Minister's approval, establishes comprehensive processing and annual licence fees for various banking and financial institution licenses in Mauritius. The regulations specify tiered fee amounts based on total assets, branch locations, and business types, covering banks, agencies, foreign exchange dealers, money-changers, deposit-taking institutions, and money market instrument issuers. Fees are non-refundable, payable in local or convertible currency, and subject to pro-rated calculations or temporary waivers for exceptional events and reduced business activity.

The Bank of Mauritius issued this guideline to mandate minimum compliance risk management and governance requirements for all licensed banks, non-bank deposit-taking institutions, and cash dealers. It requires boards to approve comprehensive compliance policies while ensuring senior management maintains day-to-day oversight and an independent Head of Compliance directs an adequately resourced compliance function. The framework establishes clear reporting lines, conflict-of-interest safeguards, and cross-border standards to strengthen institutional compliance culture ahead of its 12 November 2024 effective date.

The Bank of Mauritius has issued this guideline to establish comprehensive risk management, capital, and liquidity requirements for licensed banks engaging in virtual asset-related activities. The framework mandates board-approved risk assessments, prudential classification of assets into Group 1 and Group 2 categories, and specific capital buffers for credit, market, and operational exposures. Banks must secure prior regulatory approval for non-Group 1 exposures, maintain robust cyber and anti-money laundering controls, and achieve full compliance by May 2025.

The Bank of Mauritius amended the National Payment Systems (Authorisation and Licensing) Regulations 2021 by defining customer money, revoking Regulation 9, and updating financial compliance requirements for licensees. Licensees must now segregate customer funds from business financing, submit annual auditor certificates confirming trust account balances match electronic money liabilities, and adhere to central bank caps on personal e-wallet storage. The regulations also prohibit cash withdrawal services for affected entities and took effect on 1 July 2024.

The Bank of Mauritius, with ministerial approval, enacted the Banking (Processing and Licence Fees) (Amendment) Regulations 2024 to update statutory fee schedules. The amendment modifies Part X of the Schedule to the principal 2015 regulations by replacing the figure 250,000 with 500,000. This adjustment directly increases the applicable processing and licence fee thresholds for regulated banking entities effective 13 August 2024.

The Bank of Mauritius issued this guideline to establish minimum prudential requirements for the classification, provisioning, and write-off of credit exposures across licensed financial institutions. It mandates robust board oversight, standardized risk management frameworks, and clear policies for identifying non-performing exposures, calculating macroprudential and specific provisions, and executing timely write-offs. Effective September 2024, the document supersedes previous impairment guidelines, applies broadly to banks and deposit-taking institutions, and ensures consistent asset quality assessment alongside adequate capital treatment.

The Bank of Mauritius has issued this guideline to mandate a minimum Net Stable Funding Ratio (NSFR) of 100% for all licensed banks on both solo and consolidated bases. The requirement will be implemented in phases, starting at 70% from June 30, 2024, and reaching full compliance by December 31, 2024, with quarterly reporting due within twenty working days. The framework establishes detailed calibration methodologies for calculating Available Stable Funding and Required Stable Funding across various asset classes, liabilities, derivatives, and off-balance sheet exposures.

The Bank of Mauritius has issued this Guideline to establish a structured framework for granting Regulatory Sandbox Authorisation, enabling fintech companies, financial institutions, and licensees to test innovative solutions under relaxed regulatory requirements. Applicants must satisfy strict eligibility criteria, including demonstrating genuine innovation, robust risk management, and clear user benefits, while navigating a streamlined application process that concludes within forty working days. Once authorised, entities conduct testing for up to twelve months with mandatory interim and final reporting, clear user risk disclosures, and defined pathways for regulatory exemption renewal or market exit.

Issued by the Minister under the Banking Act, these regulations require any person acquiring a significant interest in a financial institution to pay a prescribed fee to the central bank. The central bank will not process the acquisition proposal until the applicable fee is paid, with amounts specified in a tiered schedule ranging from Rs 100,000 for money-changers to Rs 1,000,000 for banks. This framework standardizes cost requirements across all regulated financial entities, including foreign exchange dealers and non-bank deposit-taking institutions.

The Bank of Mauritius issued this revised guideline to establish the recognition criteria and regulatory use of External Credit Assessment Institutions (ECAIs) for calculating credit risk capital under the Standardised Approach. It mandates that banks utilize either direct or indirect recognition methods to verify an ECAI’s compliance with six eligibility criteria—objectivity, independence, transparency, disclosure, resources, and credibility—and map their ratings to appropriate risk weights. The framework further standardizes the treatment of unsolicited assessments, outlines application and ongoing review procedures, and requires published lists of eligible institutions to ensure consistent capital calculations across licensed banks.

The Bank of Mauritius mandates all licensed financial institutions to implement a comprehensive cyber and technology risk management framework commensurate with their size, complexity, and risk profile. The guideline establishes minimum governance standards, including board oversight and CISO appointment, while requiring robust protection controls, third-party risk management, and regular assurance testing aligned with international benchmarks. Effective 29 May 2023, these requirements ensure operational resilience and financial stability by standardizing threat detection, incident response, and continuous security reporting across the sector.

The Bank of Mauritius mandates all licensed banks to implement a robust liquidity risk management framework that ensures sufficient unencumbered high-quality liquid assets to withstand institutional and market-wide stress scenarios. The guideline requires boards and senior management to establish clear risk tolerances, conduct regular stress tests using maturity ladders, and maintain documented contingency funding plans alongside public disclosures. Effective January 11, 2021, the revised framework aligns domestic operations with Basel Committee principles by enforcing strict Liquidity Coverage Ratio calculations and monitoring cross-currency funding transferability.

The Bank of Mauritius issued this guideline to establish comprehensive governance, risk assessment, and security requirements for licensed financial institutions utilizing cloud services. Institutions must implement board-approved cloud strategies, conduct materiality and risk assessments, perform provider due diligence, and submit regulatory notifications at least sixty days before deploying material cloud services. The framework mandates heightened security controls, robust contingency and exit plans, clear data location rules, and strict subcontracting oversight to mitigate operational, cyber, and concentration risks while ensuring ongoing regulatory compliance.

The Bank of Mauritius issued this revised guideline to establish minimum standards for identifying, measuring, and mitigating credit risk associated with cross-border exposures of licensed banks. It mandates comprehensive board-approved policies, robust governance structures with independent control functions and external audits, and a dynamic risk appetite framework covering country-specific limits and specialized lending. Banks must conduct rigorous due diligence on overseas counterparties, jurisdictions, and third-party service providers while ensuring enforceable collateral, adequate staff expertise, and timely regulatory reporting.

The Minister of Mauritius issued these regulations to amend the First Schedule to the Financial Intelligence and Anti-Money Laundering Act by replacing Attorney-General with FIU in item 3. This statutory update designates the Financial Intelligence Unit as the relevant authority, ensuring accurate regulatory references across compliance obligations. The regulations commenced on 22 July 2022, immediately updating the applicable statutory framework.

The Bank of Mauritius has issued additional macroprudential measures to mitigate systemic risks within the national banking sector by mandating specific risk-weighted asset calculations, general provisioning requirements, and loan-to-value ratios for residential and commercial real estate loans. Banks must apply tiered risk weights based on loan amounts and Property Development Scheme status, implement sector-specific additional general provisions ranging from 0.5% to 1.0%, and enforce a maximum 80% loan-to-value ratio for self-employed individuals while permitting higher ratios under strict credit assessment criteria. These standardized requirements, effective through multiple revisions up to June 2022, directly govern fund-based and non-fund-based credit facilities for property purchase and construction to ensure early provisioning against rising corporate indebtedness and non-performing loans.

The Bank of Mauritius issued this guideline to establish eight core principles for licensed banks to implement a robust stress testing framework aligned with Basel Committee standards. Banks must ensure board oversight, conduct stress tests every six months with quarterly scenario reviews, and maintain adequate data infrastructure, skilled personnel, and validated models to capture material risks including climate and operational exposures. The guideline mandates half-yearly reporting to the board, requires full compliance by November 2022, and allows foreign bank branches to utilize parent frameworks provided they meet local regulatory expectations.

The Bank of Mauritius issued this revised guideline to establish governance frameworks, regulatory limits, and monitoring requirements for related party transactions by banks and non-bank deposit-taking institutions. It mandates board-approved policies, classifies exposures into three categories with aggregate caps of 60% and 150% of Tier 1 capital, and requires transactions to be conducted at market terms unless exempted or structured as staff loans. Financial institutions must maintain updated information systems, disclose interests per the Banking Act 2004, submit quarterly reports to the regulator, and achieve full compliance by 30 September 2022.

The Bank of Mauritius mandates all licensed banks to apply a uniform Standardised Approach for calculating capital adequacy requirements on credit risk, covering on- and off-balance sheet exposures alongside eligible collateral and guarantees. The framework assigns specific risk weights to claims based on external credit assessments from recognized agencies, with preferential 0% treatment extended to domestic sovereigns, central banks, and highly rated multilateral development banks. Effective 1 April 2022, the guideline establishes detailed methodologies for calculating risk-weighted amounts, defining eligible borrowers and credit risk mitigation techniques to ensure consistent capital allocation across the banking sector.

The Bank of Mauritius mandates all licensed banks and non-bank deposit-taking institutions to integrate climate-related and environmental financial risks into their existing governance, risk management, and strategic decision-making frameworks. Financial institutions must establish board-approved policies, implement three-lines-of-defence risk identification and measurement processes, conduct regular scenario analysis and stress testing, and submit internal roadmaps alongside half-yearly progress reports. The guideline further requires annual public disclosures detailing governance structures, risk strategies, key metrics against environmental targets, and the financial impact of physical and transition risks on credit, market, liquidity, and operational exposures.

The Bank of Mauritius issued this December 2021 guideline to establish a comprehensive regulatory framework for banks operating exclusively through digital or electronic channels. It mandates a two-stage licensing process comprising a mobilisation period of up to two years and a transitional period of up to three years, during which restricted digital banks must deploy technology infrastructure, recruit senior staff, and meet specific capital and governance thresholds. The framework grants targeted exemptions from traditional banking laws while ensuring robust risk management, customer protection, and clear exit mechanisms before granting full digital banking status.

Issued by the Bank of Mauritius, this guideline establishes the regulatory framework for licensed banks conducting private banking business in the jurisdiction. It mandates specific exemptions regarding minimum capital, ownership thresholds, and board structures for exclusively licensed private banks while enforcing strict compliance controls, risk mitigation measures, and customer eligibility criteria based on investable assets or income. The document further delineates permissible ancillary services, digital delivery options, and detailed operational standards for staff conduct, portfolio management, and ongoing supervisory reporting.

The Bank of Mauritius issued this guideline to establish minimum prudential criteria and a formal affirmation process for deposit-taking institutions declaring or transferring dividends and profits. Institutions must satisfy capital adequacy and liquidity thresholds, maintain adequate reserve balances, distribute amounts from retained earnings, and submit board resolutions alongside external auditor reports confirming post-distribution solvency. The framework further mandates robust board oversight, caps interim profit distributions at fifty percent of interim profits, and requires full implementation within three months.

The Bank of Mauritius issued this revised guideline to require licensed banks and non-bank deposit-taking institutions to disclose credit facility information and statements of account to guarantors. Institutions must provide written or electronic statements detailing outstanding principal, interest, and applicable rates whenever accounts remain in arrears for over 60 days, exceed authorized limits, or demonstrate impairment. The framework additionally mandates that institutions clearly inform prospective guarantors of their rights to access contracts and credit bureau records, alongside their financial liabilities arising from borrower defaults.

Enacted by the Parliament of Mauritius, this Act establishes comprehensive legal measures to combat terrorism and related offences. It defines acts of terrorism, proscribes organizations, and criminalizes activities such as terrorist meetings, training, support, harbouring, and obstruction of investigations. The legislation creates a Counterterrorism Unit and a dedicated Committee to collect intelligence, disseminate information, and oversee counterterrorism preparedness while granting authorities powers for detention, control orders, and extra-territorial prosecution.

The Bank of Mauritius issued this revised guideline to implement the Basel III capital framework for all licensed banks, effective 28 June 2021. It establishes strict eligibility criteria for Common Equity Tier 1, Additional Tier 1, and Tier 2 capital instruments while mandating minimum capital adequacy ratios of 6.5 percent, 8.0 percent, and 10.0 percent against risk-weighted assets respectively. The document further details mandatory regulatory adjustments, transitional phase-in arrangements, and solo and group-level reporting requirements to ensure banks maintain sufficient loss-absorbing capacity during financial stress.

The Bank of Mauritius mandates a 50% debt-to-income ratio limit for all licensed banks granting credit facilities for residential property purchases or construction. Banks must calculate the ratio using a standardized formula that caps variable income at 70%, verify borrower declarations against the MCIB database, and establish annually reviewed internal limits approved by their boards. While the cap applies broadly, specific categories such as low-cost housing borrowers and fully secured loans are exempt, with the regulator retaining authority to conduct supervisory reviews and impose fines for non-compliance.

The Bank of Mauritius issued these regulations to amend the Banking (Processing and Licence Fees) Regulations 2015 by introducing definitions for exceptional events and reduced business activity. Financial institutions experiencing these conditions for over three months are exempt from licence fees or eligible for refunds of previously paid amounts. The regulations also revoke Regulation 9 and Part VIII of the Schedule, taking retrospective effect from 1 July 2020.

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.

The Bank of Mauritius has introduced transitional arrangements to mitigate the impact of IFRS 9 Expected Credit Loss provisions on regulatory capital for all licensed banks and non-bank deposit-taking institutions. Financial institutions must elect to apply the framework by 15 February 2021, during which they are required to add back a phased proportion of Stage 1 and Stage 2 provisions to their Tier 1 or Common Equity Tier 1 capital while suspending dividend distributions. The regulatory capital add-back is calculated against a December 2019 baseline using a declining transition factor that phases out completely by 2025, with mandatory quarterly reporting to ensure compliance.

Issued by Mauritius' National Sanctions Secretariat in August 2020, these guidelines establish the operational framework for implementing United Nations Targeted Financial Sanctions under the 2019 Sanctions Act. Reporting persons, including licensed financial institutions and designated professional service providers, must conduct sanctions screening against UN Security Council lists for Iran and North Korea to freeze assets, prohibit fund availability, enforce arms embargoes, and apply travel bans. The guidelines mandate continuous monitoring of listed parties, their beneficial owners, and entities acting on their behalf, while outlining reporting procedures, authorization mechanisms, and statutory exemptions to ensure compliant counter-proliferation financing across Mauritius.

The Bank of Mauritius establishes this guideline to regulate the appointment and operation of agents contracted by banks to deliver banking services on their behalf. It mandates prior written approval, a standardized application process, and strict requirements for confidentiality, risk management, and real-time transaction settlement. The framework delineates permissible agent services, assigns comprehensive oversight and liability to contracting banks, and empowers the regulator with continuous monitoring, reporting obligations, and cancellation authorities.

The Bank of Mauritius has issued a comprehensive guideline requiring all licensed financial institutions to implement a risk-based framework for combating money laundering, terrorist financing, and proliferation financing. The document mandates robust internal controls, rigorous customer due diligence, continuous monitoring, and timely reporting of suspicious transactions in alignment with the Financial Intelligence and Anti-Money Laundering Act 2018 and FATF standards. Superseding previous guidance notes, the guideline establishes enforceable compliance expectations that carry monetary penalties or licence revocation for institutions failing to mitigate financial crime risks.

The Mauritian Minister issued regulations requiring all reporting persons to electronically register with the Financial Intelligence Unit (FIU) through a designated Money Laundering Reporting Officer. The rules mandate timely registration applications based on FIU-determined categories, require written notification of changes to particulars within thirty days, and authorize the FIU to issue implementing guidelines. Non-compliant reporting persons face criminal offences and fines up to one million rupees, with the regulations taking effect on 5 November 2019.

The Bank of Mauritius issued this guideline to establish regulatory credit concentration limits and risk management frameworks for all licensed banks and non-bank deposit-taking institutions. It mandates specific exposure caps relative to Tier 1 capital, including maximum limits of 25 percent for single customers and 40 percent for connected groups, while requiring boards to implement annual stress tests and robust monitoring systems. Financial institutions must report large exposures quarterly, apply permitted set-offs against regulatory limits, and submit compliance plans within three months of the effective date to avoid breaches or higher capital charges.

Enacted by the Parliament of Mauritius, this Act incorporates specified international counter-terrorism conventions into domestic law to strengthen national security frameworks. It establishes criminal offences and imposes penalties of five to thirty-five years penal servitude for unlawful acts involving nuclear material, nuclear terrorism, and the manufacture or transport of unmarked plastic explosives. The legislation grants judges jurisdiction without a jury to try these offences when committed within Mauritian territory, by or against citizens, or targeting diplomatic facilities, while empowering the Minister to issue implementing regulations.

The Bank of Mauritius, approved by the Minister, enacted the Banking (Processing and Licence Fees) (Amendment) Regulations 2019 to modernize licensing terminology for financial institutions. The amendment formally defines an "annual programme of issuance" and systematically replaces all instances of "commercial paper" with "money market instrument" across the principal regulations and schedule. These revisions standardize licensing requirements for eligible institutions, ensuring accurate regulatory classification and consistent fee application for money market instruments.

The Bank of Mauritius has issued binding instructions to all licensed banks and directed the Mauritius Bankers Association to implement specific measures aimed at enhancing transparency and accessibility for retail customers. These directives mandate clear disclosure of fees, penalties, and interest calculation methods, while capping administrative charges for returned cheques, standard document copies, and loan contract withdrawals. All licensed banks must fully implement these standardized practices by 14 January 2019 to deliver simplified, more inclusive banking services across the domestic market.

The Minister issued these regulations to amend the Financial Intelligence and Anti-Money Laundering Regulations 2018 by updating key definitions for customers, beneficial owners, and competent authorities. The amendments modify identity verification procedures by permitting reporting persons to complete customer verification after establishing a business relationship, provided they implement appropriate risk management protocols. Additionally, the regulations clarify third-party reliance within financial groups and extend competent authority oversight to supervisory bodies, with the amendments deemed effective from 1 October 2018.

The Minister, acting under sections 99 and 101 of the Banking Act, issued these regulations to amend the schedule of the principal 2008 framework. The amendment explicitly inserts references to sections 64B(2) and 96C(5) into the schedule, thereby expanding the list of offences eligible for administrative compounding. Effective from 17 September 2018, the updated schedule enables regulators to resolve specified banking breaches through fixed penalties rather than initiating full court proceedings.

Issued by the Prime Minister of Mauritius under the Prevention of Terrorism Act 2002, these regulations establish a comprehensive framework to freeze and restrict the assets of listed terrorists. The Central Bank and Financial Services Commission are mandated to direct financial institutions to freeze accounts, report holdings, and refer suspicious cases to the Commissioner of Police for investigation. The rules prohibit dealing with, supplying funds or financial services to, and exporting arms to listed terrorists, while granting limited exceptions for basic expenses and imposing up to five years of penal servitude for contraventions.

Issued by the Minister of Mauritius under the Financial Intelligence and Anti-Money Laundering Act, these regulations establish comprehensive Customer Due Diligence obligations for reporting persons. They mandate the verification of customer and beneficial owner identities, require ongoing monitoring, and prescribe risk-based simplified or enhanced due diligence measures for varying business relationships. The framework further dictates record-keeping standards, specific protocols for politically exposed persons and cross-border wire transfers, and compulsory suspicious transaction reporting when due diligence cannot be completed.

The Bank of Mauritius issued this revised guideline to establish comprehensive regulatory, governance, accounting, and prudential requirements for Islamic banking institutions operating via windows or holding exclusive licenses. The framework mandates strict Shari'ah compliance through dedicated advisory boards or advisors, precise capital adequacy calculations, and transparent financial reporting that accounts for zakat obligations and profit-equalization reserves. Furthermore, it requires IBIs to implement integrated risk management and liquidity policies aligned with Shari'ah principles while maintaining operational firewalls between Islamic and conventional banking activities.

The Bank of Mauritius issued these regulations to amend the Banking (Processing and Licence Fees) Regulations 2015 by establishing specific fees for commercial paper issuers. The new provisions mandate a Rs 15,000 processing fee and a Rs 50,000 licence fee for issuers operating under an approved annual programme of issuance. Furthermore, the regulations stipulate that this licence fee must be paid at the time the central bank grants the commercial paper licence.

The Bank of Mauritius requires all licensed financial institutions to design and implement effective internal control systems and maintain adequate accounting records commensurate with their size, complexity, and risk profile. The guideline mandates that boards and senior management establish clear organizational structures, segregate duties, maintain risk registers, and conduct periodic reviews of control effectiveness. It further specifies detailed record-keeping standards for transactions, robust computer and physical controls, and clear communication frameworks to safeguard assets and ensure regulatory compliance.

Issued by the Bank of Mauritius, this guideline establishes comprehensive corporate governance standards for banks, non-bank deposit-taking institutions, and cash dealers operating in Mauritius. It mandates a board of at least five directors with a minimum forty percent independence, requires the separation of the chair and chief executive officer roles, and prohibits shell financial institutions from operating locally. Financial institutions must establish key sub-committees—including audit, risk management, conduct review, and nomination and remuneration committees—to oversee strategy, compliance, and risk appetite while ensuring clear accountability between the board and senior management.

The Bank of Mauritius mandates all deposit-taking financial institutions to establish a comprehensive written credit risk policy defining risk tolerance, approval authorities, concentration limits, and portfolio engagement areas. The guideline assigns the board of directors annual policy approval and oversight duties while requiring chief executives to implement robust appraisal criteria, risk management committees, management information systems, and internal controls. Financial institutions must continuously monitor portfolio quality, conservatively value collateral and provisions, report significant exposures bi-annually, and ensure strict compliance with impairment measurement standards to safeguard asset quality.

The Bank of Mauritius, with ministerial approval, has established a fixed non-refundable processing fee of 10,000 rupees for applications seeking written permission to reproduce currency notes and coins. Enacted under section 43A(1A) of the Bank of Mauritius Act, this regulation standardizes the administrative cost for entities requesting official reproduction rights. The fee applies uniformly to all submissions and must be paid upon application, thereby formalizing the financial requirement effective January 2017.

The Bank of Mauritius, with ministerial approval, promulgated the Banking (Processing and License Fees) (Amendment) Regulations 2016 to revise fee structures under the Banking Act. The instrument revokes Regulation 10 of the principal 2015 regulations and amends the Schedule by substituting item 2(a) with a fixed 500,000 charge for the principal place of business and entirely revoking Part IX. These amendments are deemed effective as of 1 July 2016, thereby updating the licensing and processing fee framework for regulated entities.

The Bank of Mauritius issues this annexure to evaluate the fitness and probity of individuals exercising material influence over banks, non-bank deposit-taking institutions, and cash dealers. The form requires comprehensive disclosures of personal details, employment history, shareholdings, and directorships, alongside twenty targeted tests addressing disciplinary proceedings, regulatory compliance, financial standing, and potential conflicts of interest. Candidates must verify the accuracy of their submissions, authorize credit bureau data access, and formally declare their suitability to the board prior to appointment.

The Minister, acting under the Banking Act 2004, issued these regulations to amend the Schedule of the principal 2008 rules. The amendment formally incorporates section 97(21) into the existing list of compoundable offences by inserting it directly after section 97(19). Enacted on 2 August 2016, the regulations update statutory compliance requirements for banking entities without altering other existing provisions.

The Bank of Mauritius issued this guideline to regulate mobile banking and payment services for both bank-led and non-bank-led providers. Providers must secure prior written approval, maintain dedicated trust accounts for stored value, and adhere to stringent security, technology, and KYC standards. The framework mandates end-to-end encryption, distinct airtime and payment accounts, final transaction settlement, and clear procedures for application, cancellation, and customer dispute resolution.

The Bank of Mauritius has issued this guideline to establish the statutory requirements and application procedures for foreign banks seeking prior written approval to operate representative offices in Mauritius. The framework mandates a designated Chief Representative, restricts operations to liaison and market research activities while prohibiting direct banking business, and requires the display of specific disclosures alongside compliance with home-country supervisory standards. The Bank retains full inspection and revocation authority, enforces a structured thirty-to-forty-five-day approval window, and imposes annual licensing fees alongside strict reporting obligations for confidentiality breaches and operational changes.

The Bank of Mauritius issued this June 2014 guideline to establish a framework for identifying Domestic-Systemically Important Banks (D-SIBs) and imposing higher capital requirements. The regulator applies a five-parameter, indicator-based scoring system that evaluates size, exposure to large groups, interconnectedness, substitutability, and complexity to assign banks to specific capital surcharge buckets. Designated D-SIBs must maintain additional Common Equity Tier 1 capital ranging from 1.0 percent to 3.5 percent of risk-weighted assets, with phased implementation beginning in January 2016 and full effect by January 2019.

The Bank of Mauritius issued this guideline to establish a comprehensive framework for assessing whether senior officers, directors, and significant shareholders of regulated financial institutions meet the fit and proper person criteria. The assessment requires individuals to demonstrate honesty, integrity, competence, and financial soundness through continuous board oversight, mandatory questionnaires, and prompt notification of material changes. External auditors must report non-compliance to the board, which retains ultimate responsibility for ongoing evaluation and regulatory reporting under the Banking Act 2004.

The Bank of Mauritius requires all licensed banks and non-bank deposit-taking institutions to submit advertisements related to deposits for pre-approval at least seven days prior to publication. This guideline shifts the regulatory focus from mandatory approval of all product advertisements to a submission-based system, mandating that institutions ensure ads are fair, objective, and clearly disclose interest rates, terms, and the regulatory status of agent-marketed products. Financial institutions must prominently display disclaimers, restrict foreign currency billboard advertisements, verify merchant discount fulfillment, and specify target markets for structured products to prevent misleading claims.

The Bank of Mauritius issued this guideline to require external auditors of financial institutions to immediately report transactions and conditions that materially affect the institution's well-being. Mandated by Subsection 39 of the Banking Act 2004, the reportable matters include material adverse risk changes, going concern doubts, statutory breaches, internal control deficiencies, management conflicts, and auditor resignations. Auditors must assess these factors during financial statement audits and notify the central bank promptly, ensuring that emerging threats to depositor security and institutional viability are addressed without extending the core audit scope.

The Bank of Mauritius has issued these guidelines to standardize the appointment and reappointment procedures for senior officers in licensed financial institutions under Section 46(2) of the Banking Act 2004. Financial institutions must submit at least twenty days' prior notice, accompanied by a completed Fit and Proper Person Questionnaire and supporting documentation such as a certificate of morality or affidavit, before proceeding with any appointment. The document clarifies the definition and required attributes of senior officers, specifies distinct notification protocols for CEOs versus other senior staff, and mandates that institutions formally determine their senior officer cadre within three months of the guidelines taking effect.

The Bank of Mauritius, with ministerial approval, amended the Banking (Processing and Licence Fees) Regulations 2007 to establish a fixed processing fee of Rs 250,000 for banks applying to transfer their undertakings. The amendment modifies regulation 3 by renumbering its existing provision and adding a new paragraph that references Part V of the Schedule. These regulations came into operation on 14 May 2013 and formally codify the fee structure under section 32A(1) of the Banking Act.

The Bank of Mauritius, with the Minister's approval, has amended the Banking (Processing and Licence Fees) Regulations 2007 to update fee structures for foreign exchange dealers and money-changers. The amendments revise Regulation 6(4) to mandate daily fees for entities operating at locations other than their principal or regular business premises. Additionally, the Schedule now specifies a 2,000 daily fee for both foreign exchange dealer and money-changer licences, with the regulations taking effect on 1 January 2012.

The Bank of Mauritius issued this guideline to require licensed banks and non-bank deposit-taking institutions to establish robust governance, control frameworks, and reporting processes for the fair valuation of financial instruments. It mandates clear board and senior management responsibilities, independent model validation, rigorous stress-testing, and appropriate valuation adjustments to ensure reliable pricing under both normal and stressed market conditions. Furthermore, the guideline standardizes third-party outsourcing practices, mandates transparent disclosures regarding valuation methodologies and assumptions, and takes effect on 1 November 2010.

The Bank of Mauritius issued these guidelines to require all licensed banks to establish a comprehensive framework for identifying, measuring, and managing cross-border country exposures. The document mandates that boards and senior management implement robust assessment, control, and monitoring processes, including stress testing, exposure limits, and internal audit functions commensurate with each institution's size and risk profile. Banks must also reflect country risk impacts through dedicated or integrated provisioning policies eligible for Tier 2 capital and disclose relevant qualitative and quantitative data in their annual reports.

The Bank of Mauritius issued this guideline to establish a standardized Supervisory Review Process (SRP) that ensures licensed banks maintain adequate capital relative to their risk profiles. The document mandates that banks implement a robust Internal Capital Adequacy Assessment Process (ICAAP) overseen by the board and senior management, while defining a comprehensive Supervisory Review and Evaluation Process (SREP) to assess regulatory capital, credit, market, operational, liquidity, and other material risks. Applying proportionately to local banking groups, foreign subsidiaries, and branches on an annual basis, the framework empowers supervisors to intervene early and require remedial action when capital levels fall below minimum thresholds.

The Bank of Mauritius has amended the Banking (Processing and Licence Fees) Regulations 2007 to update fee structures for banks, foreign exchange dealers, and money changers. The amendments introduce pro-rated fixed fees for newly approved additional places of business, capping these charges at Rs 1 million for banks and Rs 500,000 for foreign exchange dealers and money changers. A revised Schedule replaces the previous schedule to specify exact processing and fixed fees across all licence categories alongside a new formula for non-bank deposit-taking institutions, with the regulations taking effect on 1 July 2009.

Issued by the Bank of Mauritius, this guideline establishes minimum public disclosure standards for banks and non-bank deposit-taking institutions regarding their annual financial statements, annual reports, and quarterly filings. It mandates formal board-approved disclosure policies with validated data, requiring detailed qualitative and quantitative reporting on capital structure, risk exposures (credit, market, operational), related party transactions, and corporate governance. Effective December 2008, the framework requires institutions to publish these disclosures on their websites with comparative figures for two prior years, while Section III applies exclusively to banks under the Basel II framework.

The Bank of Mauritius issued these October 2009 guidelines to establish a mandatory 10 percent capital adequacy ratio for all licensed non-bank deposit-taking institutions. The framework mandates a two-tier capital structure, defining Tier 1 core capital components and deductions alongside eligible Tier 2 supplementary capital such as revaluation reserves, general provisions, and subordinated debt. Institutions must calculate risk-weighted assets according to specified asset classes, submit quarterly returns signed by authorized officials within twenty working days, and comply with updated terms governing deposit acceptance and liquidity maintenance.

The Bank of Mauritius issued this July 2009 guideline to mandate standardized market risk management frameworks and capital charge calculations for all licensed banks under the Basel II framework. Institutions must establish clear banking and trading book distinctions, implement robust board oversight and internal control systems, and apply the Standardised Measurement Method to compute regulatory capital for interest rate, equity, foreign exchange, and commodity risks. Banks with trading book positions exceeding five percent of total assets must comply with the standardized methodology and submit quarterly capital adequacy returns detailing risk exposures and internal capital buffers.

The Bank of Mauritius has decided to end the parallel run exercise and fully implement the Standardised Approaches of the Basel II framework for all Mauritian banks starting in the quarter ending 31 March 2009. This transition follows a successful parallel run period that began in March 2008, during which banks reported capital adequacy ratios under both Basel I and Basel II frameworks. The regulator will subsequently evaluate the banking sector's readiness to adopt advanced approaches, ensuring continued compliance with high regulatory standards.

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.

The Minister issued the Banking (Compoundable Offences) Regulations 2008 to designate specific violations under sections 97 and 100 of the Banking Act 2004 as compoundable offences. The Schedule explicitly lists eleven subsections of section 97 alongside section 100(4) as qualifying for compounding, thereby allowing regulatory breaches to be settled through financial penalties rather than full prosecution. These regulations were deemed to take effect on 10 November 2004, establishing a clear compliance framework for banking entities subject to the Act.

The Minister of Mauritius, exercising powers under the Bank of Mauritius Act 2004, designates specific statutory breaches as compoundable offences. The regulations explicitly list violations under sections 50(5), 53, and 68(1) of the Act as eligible for financial settlement without full prosecution. These provisions apply retroactively to 10 November 2004, establishing a streamlined compliance framework for regulated entities.

The Minister, exercising powers under the Banking Act 2004, has revoked the Foreign Exchange Dealers Regulations 1995 through Government Notice No. 208 of 2008. This legislative action removes the earlier regulatory framework for foreign exchange dealers and establishes a clean slate under current banking legislation. The revocation carries a retroactive effective date of 10 November 2004, aligning its operation with the commencement of the parent Act.

The Bank of Mauritius, with ministerial approval, issued the Banking (Processing and Licence Fees) (Amendment) Regulations 2008 to update statutory fee schedules for financial institutions. The amendment revokes and replaces Part III of the 2007 principal regulations, establishing new processing fees of Rs 25,000 for foreign exchange dealers and Rs 10,000 for money-changers. It also sets fixed licence fees at Rs 300,000 and Rs 150,000 for the principal places of business of foreign exchange dealers and money-changers respectively, alongside reduced rates for additional locations.

The Bank of Mauritius mandates all licensed banks to establish a comprehensive operational risk management framework and compute capital charges using standardized or advanced measurement methodologies. Banks must calculate a composite capital adequacy ratio of at least 10 percent by integrating operational risk charges with credit risk assets, utilizing the Basic Indicator, Standardised, or Advanced Measurement Approaches. The guideline requires quarterly submission of capital computation and internal loss data, while granting flexibility to adopt or revert between approaches subject to prior regulatory approval.

The Bank of Mauritius issued this directive to formally align existing regulatory guidelines with the Banking Act 2004 and Bank of Mauritius Act 2004. By applying statutory continuity provisions, the document maps specific paragraphs from guidelines on financial transactions, corporate governance, internet banking, and credit risk management to their corresponding sections in the updated legislation. This mapping ensures that pre-existing guidelines remain legally operative under the new framework, providing financial institutions and external auditors with precise compliance references effective March 2008.

The Bank of Mauritius mandates that all licensed banks calculate and report daily foreign exchange exposures using a standardized shorthand method combining net spot and forward positions. Banks must submit a signed daily return to the Banking Supervision Department before noon on the subsequent business day, translating foreign currency balances into rupees at mid-point TT rates and expressing overall exposure as a percentage of Tier 1 capital. The framework details specific reporting columns for balance sheet and off-balance sheet items, permits structural positions to be footnoted, and requires individual currency disclosure for net long or short positions exceeding Rs 1 million.

The Bank of Mauritius issued this guideline to establish a regulatory framework for domestic and offshore banks offering internet banking services through informational, communicative, or transactional websites. Institutions must obtain prior written approval or provide one-month advance notification before launching these platforms, while submitting detailed business plans, security policies, risk management frameworks, and client charters. The document mandates robust security controls, continuous risk assessment, board and management oversight, and clear outsourcing protocols to mitigate strategic, transactional, compliance, and reputation risks.

The Bank of Mauritius issued the Banking (Processing and Licence Fees) Regulations 2007 to establish fixed processing fees and annual licence fees for banking, deposit-taking, foreign exchange dealer, and money-changer institutions. The regulations require licensees to pay non-refundable fees in Mauritius Rupees or US dollars, combining fixed amounts with a variable component calculated via a statutory formula based on three-year average gross operating income and total assets. Existing and new institutions must make initial payments upon the regulations' commencement on 15 April 2007, followed by annual payments due each 1 July, with pro-rated adjustments for newly issued licences and merged entities.