Aiming at maintaining the sector’s current dynamism and promoting global integration and openness, the Minister of Finance proposes amongst others:
- Amendments to the Bank of Mauritius Act and the Banking Act to improve access to credit information, reduce administrative procedures and allow banks to transact on more flexible terms;
- New legislation to encourage the use of hedging instruments in order to improve efficiency and risk management across the sector;
- Various amendments to improve compliance and ease the regulatory framework with respect to banks engaged in leasing activities and leasing companies;
- Amendments to make normal banking and Islamic banking tax neutral.
