Bank of Mauritius
Mauritius postpones MPC meeting due to ‘administrative matters’
Central bank moves meeting to May 30 after prime minister appoints three new members to MPC, which is now at full capacity
Roi to vacate Mauritian governorship in January 2018
Experienced first deputy Googoolye to take over for three-year term, having already served as interim twice over the past decade
IMF suggests changes to Mauritian monetary policy framework
Lack of clarity in current framework risks “undermining” the credibility of monetary policy, report says; medium-term inflation target of 3% should be implemented
Mauritius governor opens new currency museum named after first governor
Museum ‘Aunauth Beejadhur’ will exhibit Mauritian currency throughout the ages, with plans to expand scope to include financial literacy at a later date
African regulators want regional regulatory structure – Basant Roi
“Political will” to support financial regulatory reform in Africa is “missing”, says Mauritius governor; IMF chief says resolution frameworks are “insufficient”
Updated Bank of Mauritius survey questions people on inflation causes
Latest survey shows Mauritian stakeholders are wary of external factors; exchange rate was viewed as second most important factor under new question format
Mauritian governor explores low-growth puzzle
The government and the central bank need to work together in order to stimulate growth, Roi says, recognising each institution can only do so much
Auditors ‘key’ in strengthening corporate governance, says Mauritian deputy
Deputy governor examines difference between supervision models; under ”four lines of defence” model, auditors provide ”autonomous assessment” of previous three lines
Bank of Mauritius governor examines human capital problem
Human resource managers face ‘daunting challenge’, says Basant Roi while emphasising people need to have ‘extraordinary qualities’
Bank of Mauritius constantly ‘beefing up’ regulatory capacity, says governor
Post-financial crisis ‘awakening’ posed challenges for authorities, says Roi; updating regulatory and supervisory capacity is ‘never-ending’
Growth risks push Mauritius MPC to cut by 40bp
Central bank cuts interest rates to 4%, amid risks arising from Brexit and potential volatility from US elections; reducing rate will support investment and encourage growth, says bank
External factors most important inflation driver, Mauritius survey shows
Inflation expectation shows 71% of stakeholders asked believe external environment is most important factor in inflation pattern; exchange rate viewed as second most important
Bank of Mauritius spells out cost-cutting measures
Central bank defends finances after posting losses in successive years; points to range of measures taken to reduce expenses, including release of "unproductive but fatly remunerated" employees
Mauritius has gone ‘terribly wrong’ with respect to human capital, central bank governor says
Quality of human capital does not met the standard required to meet the disruptive challenges now facing Mauritius, governor Roi stresses
IMF urges Mauritius to form macro-prudential authority
Central bank would have “prominent” role in new authority; as a first step, IMF staff recommend establishing a technical group featuring representatives from multiple stakeholders
Bank of Mauritius seeks more clarity in payments law
Draft bill provides “comprehensive legislation” regarding the payment system in Mauritius, central bank says; outlines the bank’s authority on the regulation of the system
Mauritius looks to set up asset management company
Central bank launches public consultation on creation of bad bank, which would help ‘clean up clogged balance sheets’ of country’s banks
Bank of Mauritius governor laments ‘unethical’ behaviour of some external auditors
Rameswurlall Basant Roi says the central bank has noticed moral compasses ‘erratically spinning’ and he warns of the consequences of poor behaviour
Mauritius reappoints former governor
Rameswurlall Basant Roi returns after eight years following the reported ousting of Rundheersing Bheenick in December; new deputy also appointed
Mauritian governor predicts banking overhaul by 2035
Rundheersing Bheenick sees mobile technology taking centre stage in years to come and banks reducing staff as a result; describes inequality as a ‘time bomb’ facing the economy
Bank of Mauritius governor hails ‘rejuvenated’ staff
Rundheersing Bheenick says new hires and the creation of ‘director of technology’ position help the central bank keep abreast of rapid technological progress in the banking sector
Bank of Mauritius could push for new interest rate power
Bank of Mauritius task force says the central bank should be able to regulate interest rates; publishes 100 recommendations for improving terms and conditions of banking contracts
Mauritius has ‘missed the boat’ on sovereign sukuks, says central bank governor
Rundheersing Bheenick argues the government’s failure to issue sukuk bonds ‘severely compromises’ the country’s ability to become a regional centre for Islamic finance
Mauritian governor calls for RBA-style capitalisation
Rundheersing Bheenick says the Bank of Mauritius should receive a stock of government debt it can use to mop up the excess liquidity in the banking system caused by its FX interventions