Message of the Acting Chief Executive for 2017

The FSC Mauritius has recently granted approval to the SEM for the ATS procedures for dual currency trading of listed GBC1s. This will improve liquidity in these securities. Moreover, the first Masala bond (INR denominated USD settled notes) was listed on the Stock Exchange in December. The issuer of the Masala bond has been registered as reporting issuer by the FSC Mauritius. Such new products are expected to enhance the position of Mauritius as a Financial Hub connecting Africa and India. 

Figures in the Global Business sector are encouraging. Indeed, the number of new GBC 1 licenses issued exceeded 1 200 during the year. As regards to the insurance sector, the FSC Mauritius has initiated consultations with the industry in view to implement budgetary measure to enable the issue of insurance policy documents in digital format.

Digitalisation was also another priority for the Commission. We have leveraged on innovative IT solutions and brought in major changes within the organisation. The online data-capture system and the online submissions platform were launched in 2016.

Furthermore, in line with its mandate to promote consumer education, the FSC Mauritius has invited members of the public to register to the Train-the-Trainer Programme and participate in its Financial Literacy Outreach initiative. We also introduced ‘La Minute de la Finance’ radio programme and will diffuse monthly cartoon series as from January 2017.

The FSC Mauritius is also proud to host the next IOPS Committee Meetings, AGM and IOPS/ OECD Global Forum on Private Pensions in October 2017. This international event will provide a platform for over 80 jurisdictions to meet and address policy issues and challenges prevailing in the private pensions industry across the world.

Our engagement in 2017 will focus on enhancing the image of Mauritius as a Centre of Excellence for cross-border finance, trade and investment. We must also not forget that our jurisdiction will have to adapt to new challenges to abide by international norms and requirements. The vision set for the financial services sector can only be achieved if all stakeholders play an active role in the process. I foresee that 2017 will be another exciting year for the Mauritius IFC.

On this note, I wish you a prosperous and successful New Year 2017!