Board of the FSC

Dr. Rama Krishna Sithanen, G.C.S.K., was appointed as Chairperson of the Financial Services Commission since 09^th of December 2024. He is currently the Governor of the Bank of Mauritius.

Dr. Sithanen is an economist by training and profession. His professional career of around 46 years is split among public sector, private sector and international consultancy and advisory work.

He has acquired strong leadership skills and wide-ranging experience in the public sector and as a professional economist holding senior positions in the private sector. He has significant experience in policy making, operations and advisory work in economics, finance, global business and the financial services sector both in Mauritius and in Africa.  He has acted as an international consultant, working in Africa and the Indian Ocean, advising Governments and public sector bodies on economic and fiscal policies.

Dr. Sithanen was Minister of Finance between 1991 and 1995. He was instrumental in shaping policies to diversify the economy and laid the foundation for the emergence of Mauritius as an international financial centre. 

He was Vice Prime Minister and Minister of Finance between 2005 and 2010. He introduced bold institutional, policy and fiscal reforms that turned around the economy and moved Mauritius from dependence on trade preferences to global competitiveness. He also implemented meaningful economic and financial measures to protect the Mauritian economy from the adverse impact of the great recession of 2008.

He worked as Director of Strategy at the African Development Bank in Tunis, Tunisia, in 2011. Between 2011 and 2016, he was Chairperson and Director of International Financial Services, one of the largest management companies in Mauritius, engaged in providing fund administration and corporate services for capital market and private equity/venture capital funds to global corporates and institutions.

Between 2017 and 2022, Dr. Sithanen was Chairperson and Director of Sanne Mauritius, a large management company that provides fund administration and corporate services to international corporates and institutions. From 2023 to the 15^th of November 2024, he was the Independent Chairperson and Director of the Apex Group of companies in Mauritius. Apex Group is the leading provider of global businesses in Mauritius.

He has acted as adviser to some countries in Africa and the Indian Ocean. He was Chairperson of the Rwanda Development Board, the economic development arm of the Government of Rwanda, between 2013 and 2017. He was adviser to the Government of Rwanda and tax, competitiveness and financial services issues between 2013 and 2015. He was equally Board Director on some companies.

Dr. Sithanen was chosen by the Switzerland-based World Economic Forum in 1994, as one of the 100 Global Leaders for Tomorrow for contribution in both the public and the private sectors at the age of 40.

In 2009, he was bestowed with the title of Grand Commander of the Star and Key (G.C.S.K.), the highest mark of distinction of the Republic of Mauritius, for his contribution in the economic and political fields.

Dr. Sithanen holds a BSc Economics (with First Class Honours) and an MSc Economics (with a Mark of Distinction) from the London School of Economics and Political Science. He also has a PhD in Political Science from Brunel University, London, UK.

Mr. Rajeshsharma Ramloll, SC joined the Board of the FSC Mauritius in May 2014 and has been appointed as Vice- Chairperson since 26 April 2019. He is currently the Solicitor-General at the Attorney-General’s Office. Mr. Ramloll is a barrister at Law and holds a specialist LLM in taxation and finance from the Centre for Commercial Law Studies, Queen Mary, London.

He is currently the President of the International Fiscal Association, Mauritius Branch.

Mr. Ramloll is a fellow of the Hon. Society of Advanced Legal Studies (London) and is a member of the General Council of the International Fiscal Association. He has been the treasurer of the Bar Council for three consecutive years.

He regularly advises the Government on legal aspects of financial matters and is a tax assessor of the OECD’s Global Forum and is an author of the International Bureau of Fiscal Documentation (Netherlands).

He has written widely in international tax journals and is on the editorial boards of Global Taxation, International Taxation and Foundation of international Taxation journals. Mr. Ramloll has contributed book chapters to the Offshore World Survey (1998, Sweet and Maxwell) and GAAR General Tax – Anti Avoidance Rules (2021, Thomson Reuters Legal). He is a regular speaker at international conferences and conducts Masterclasses in international Taxation at University faculties abroad (including the University of Lausanne).

Mr. Ramloll took silk in 2016 and was made Senior Counsel (SC) by Letters Patent on commendation by the Chief Justice.

Mr Dhanraj Conhye is currently  the Permanent Secretary at the Ministry of Financial Services and Economic Planning.

Mr Conhye is a seasoned public officer with over 30 years of extensive experience in Public Administration and Policy Formulation after working as Economist at the then Ministry of Economic Planning and Development.

He has served as  Board Member/Director in several State Owned Companies, Statutory Boards and Committees such as NHDC Ltd, Agricultural Marketing Board, Mauritus Meat Authority, Land Conversion Committee, Import Permit Committee, National Livestock Policy Hub, MCML, BFSL, SIL and DBM Ltd.

Mr Conhye holds a Hons Degree in Economics from the University of Mauritius and a Master’s Degree in Financial Management, UK. He is also an Associate Member of the Institute of Chartered Secretaries and Admnistrators (ICSA), UK.

Mrs Shaheena Abdul Carrim is a barrister and founder of SC Legal, a law firm registered in Mauritius.

A State of Mauritius Laureate in 1995 (Economics Side), she holds an LLB from Monash University, Melbourne, Australia, where she was awarded Arthur Andersen prize for best results in taxation law. In 2001, she topped the Bar Vocational Course at the Council of Legal Education, Mauritius, where she received awards for academic excellence.  She is certified in Fintech by Harvard VPAL and holds a Certificate in Green and Sustainable Finance from the Chartered Institute of Bankers.

As a barrister, she reckons more than 22 years’ experience in all aspects of corporate law, financial services, structured financing, capital markets, compliance, taxation, insolvency, securities, technology, insurance, civil law, family, real estate and commercial law. Her transactional experience includes advising on complex corporate matters such as mergers, acquisitions, restructuring, listings, and fund structuring. She has acted as lead counsel in several high-profile transactions, including IPOs and listings on the Stock Exchange of Mauritius. She is frequently consulted for regulatory advice, investment structuring, and fund formation under the Mauritius financial services regime, including collective investment schemes and variable capital companies.

In her litigation practice, she has appeared before the Judicial Committee of the Privy Council, most courts and tribunals in Mauritius and international arbitral bodies. She has developed a keen interest in technology law and is building on her expertise in virtual assets, blockchains and tokenisation. She is a registered Insolvency Practitioner and provides specialised advice on restructuring, asset recovery, and insolvency-related matters.

In terms of independent directorships, she currently sits on the boards of MFD Group Limited, a public company listed on the Stock Exchange of Mauritius Ltd and BDO Solutions Ltd. She has prior experience as member of government linked entities such as the Information and Communication Technology Advisory Council, National Savings Funds Technical Committee, National Housing Development Corporation Ltd and Capital Asset Management Ltd.

Mr Mahess Rawoteea currently holds the position of Acting Deputy Financial Secretary at the Ministry of Finance. He has held several key positions in the public sector, and represented the Government of Mauritius in various fora, both locally and internationally.

Mr Rawoteea has been extensively involved in discussions on the international front, namely on the Base Erosion and Profit Shifting project at the level of the Organisation for Economic Co-operation and Development (OECD) and successfully ensured that Mauritius achieves full compliance with both the OECD and European Union standards on international taxation. He has been a key negotiator for Mauritius on several international agreements as well.

He is a Fellow Member of the UK Association of Chartered Certified Accountants, and holder of a Master’s degree in Business Administration (with specialisation in Finance) from the University of Mauritius. Mr Rawoteea also serves as a Board member of various public bodies and is the Chairman of the SADC Finance Sub-Committee.

Mr Hemraz Oopuddhye Jankee has had a long journey spanning over 33 years at the Central Bank of Mauritius from which he retired as Chief Economist in September 2011. He has held the post of Chief Economist at the Bank of Mauritius since July 2007. Prior to that, he had occupied the post of Director-Research at the Bank of Mauritius, from April 1999 to July 2007. He has been a member of the Stock Exchange Commission since February 1999 until the setting up of the Financial Services Commission in December 2001 and a former Director of the Development Bank of Mauritius and of the First Republic Fund. He has also chaired the respective Joint Coordination Committees set up under the various Memoranda of Understanding signed between the Bank of Mauritius and the Financial Services Commission, the Mauritius Revenue Authority and the Competition Commission of Mauritius.

In November 2012, he was invited by Lord (Meghnad) Desai to join the Advisory Board of the Official Monetary and Financial Institutions Forum (OMFIF), based in London. Effective 1 March 2013, following the amendments brought to the Central bank legislation, he was appointed an External member of the Monetary Policy Committee of the Bank of Mauritius along with Professor Jeffrey Frankel of the University of Harvard. Prior to that, he had been an observer of the Monetary Policy Committee of the Bank of Mauritius since its launch in April 2007 until his retirement from the Bank in September 2011.

Mr Jankee has also held the Chairmanship/Directorship of the non-bank subsidiary of the State Bank of Mauritius Ltd, namely SBM Mauritius Assets Managers Ltd (SBM MAM Ltd) from December 2012 through July 2014 and have also been a member of the Investment Committee of SBM MAM Ltd. He has also been Director/Chairman of SBM Fund Services Ltd until June 2020.

Regarding qualifications, he holds a B.A (Honours) Degree in Economics from the University of Leeds and a master’s degree in industrial economics from the University of Lancaster from which he was a Winner of the Philips Andrews Memorial Studentship. He has followed a number of courses at the IMF Institute, the Economic Development Institute of the World Bank and the Bank of England.

Mr Hemraz Oopuddhye Jankee has been appointed Member of the Board of Financial Services Commission since 1 July 2025

Mr Hansraz (Hans) Mulloo is the Chief Finance & Investment Officer of Velogic Ltd. He is a seasoned professional with an extensive background and brings with him over two decades of experience, having served in various senior positions in Mauritius.

Mr Mulloo is a Member of the Institute of Chartered Accountants in England and Wales, Member of the Association of Chartered Certified Accountants and Member of the Chartered Institute of Management Accountants.

Mr. Yashraj Bhudoye is a Barrister-at-Law by training and profession. He has over 5 years of standing at the Mauritian Bar and he is in the private practice. He was called to the Bar of England and Wales in November 2018. He was then called to the Bar of the Republic of Mauritius in January 2020.

He holds a LLB Hons (with First Class Honours). He also possesses a LLM in International Business Law. He is a Member of the Honourable Society of the Middle Temple.

Mr. An-Noor Hassam Abdool Gaffoor is a seasoned professional in the financial services sector with extensive local and international experience in financial, legal, advisory, and corporate services. He has held senior positions at several leading management companies, where he led cross-border teams, advised international clients, and contributed to strategic planning and market expansion initiatives. His career spans key markets and jurisdictions, combining deep knowledge of the Mauritian regulatory environment with hands-on international exposure. He currently serves as Senior Adviser on Industry Matters at the Ministry of Industry, SME and Cooperatives. An-Noor holds a Bachelor of Laws (LLB) from the University of London.

Désiré Vencatachellum was appointed as Chief Executive with effect from 16 September 2025.

Désiré is a seasoned development banker with over 30 years of international experience in finance. He is widely recognised as a thought leader in mobilizing and managing both public and private capital.

Mr Vencatachellum has held multiple senior leadership positions spanning over two decades at the African Development Bank (ADB) Group making substantial contributions to the Bank mandate. He has also served as G20 Sherpa, leading the Bank’s engagement across all G20 fora. In his capacity as Senior Director for Country Economics, he has overseen the design and implementation of country strategies for both financial and non-financial support to African countries. His previous roles include Director of Resource Mobilization and Partnerships, Director of Research, and Director of Operational Policies.

Under his able leadership, the African Development Fund (ADF), —the concessional financing arm of the ADB Group, raised a record $8.9 billion from 31 donors in 2022 —securing the largest-ever resource envelope for Africa’s 37 low-income countries. Désiré has also structured and managed a wide range of trust and special funds, including the Bill and Melinda Gates Trust Fund, the Canada–Africa Climate Fund, and over EUR 1.2 billion in grants secured from the European Commission.

He has also spearheaded impactful operational policies, including the Bank’s credit policy, enabling low-income countries to access resources from the ADB, and the ADB Group’s energy policy. He conceived and led the implementation team for the pioneering ex-ante Additionality and Development Outcome Assessment (ADOA) framework, which evaluates all non-sovereign operations and guides the Bank’s senior management and Board of Directors in approving these projects.

Mr Vencatachellum has championed several institutional innovations with strong investor relevance. He has been at the forefront of the Africa Financial Stability Mechanism, an African Union–endorsed refinancing facility to support countries facing liquidity constraints and was also a member of the ADB Sanctions Appeals Board.

Prior to joining the African Development Bank Group, Désiré was a Full Professor of Economics at HEC Montréal, Université de Montréal. He holds a Ph.D. in Economics from Queen’s University, Canada, and a Magistère Ingénieur Économiste from Université d’Aix-Marseille II, France. ‎