Bank of Mauritius: Best Central Bank Governance Indian Ocean 2017

Driving technological innovation and underpinning sustainable development, the Bank of Mauritius (BOM) – the island nation’s central bank – is poised to stay ahead of developments and ensure the country’s financial services industry – a mainstay of the local economy – remains an attractive and competitive jurisdiction.

The Bank of Mauritius has gained recognition for its focus on good governance and transparency as well as for the efficacy of its monetary policies, keeping the rupee exchange rate closely matched to macroeconomic fundamentals. The Bank of Mauritius has also significantly strengthened the regulatory framework in order to keep up with evolving international standards and further improve the domestic financial markets infrastructure. The initiatives taken by the Bank of Mauritius to modernise the payment system infrastructure clearly paves the way for a rapid digitisation of the economy.

The Bank of Mauritius also upgraded and expanded its supervisory framework with a view to ensuring adherence to the highest standards of corporate governance throughout the industry. The bank sought, and obtained, reinforced regulatory powers and adopted a series of revised guidelines to enhance its capabilities.

The CFI.co judging panel commends the BOM on its forward-looking approach to both innovation and supervision. The judges are pleased to offer Bank of Mauritius the 2017 Best Central Bank Governance Indian Ocean Award.