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If you wish to view this edition of our ITL e-News in PDF, please click on the link below.
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| Global Business – News snippets from the Industry |
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ESAAMLG: Mauritius is a compliant jurisdiction
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At the 19th Council of Ministers Meeting of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), held earlier this month in eSwatini (previously known as Swaziland), it was announced that Mauritius is now compliant with most of the recommendations of the Financial Action Task Force (FATF). The latest Mutual Evaluation Report (MER) for Mauritius is due to be published soon.
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FSC signs the Marrakech Pledge |
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The effects of global warming and climate change are palpable. Responsible world leaders and policy makers are now moving beyond rhetoric and are joining forces to fight the effects of climate change. Several coalitions have been set up to foster green initiatives geared at driving sustainable economic development - one of them being the Marrakech Pledge.
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FSC issues Cyber Security Risk Governance Circular Letter |
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The financial services industry is riding one great wave of change - that of digital transformation thanks to the inevitable introduction of disruptive technologies. But innovation and new technologies surely present new risks as hordes of cyber-attackers are waiting to pounce on security loopholes. It is therefore important that companies, especially financial service providers, devise and implement a solid cyber security strategy.
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FSC issues communique on the Administrative Penalties Regulatory Framework |
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The Financial Services Commission (FSC) issued a communique in August 2019, in relation to the Administrative Penalties Regulatory Framework (the “Framework”) which comes into effect as from the same month.
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Mauritius – A key driver of quality investments into Africa |
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The FSC made a press release on 11 August 2019 that delves into the various reasons why the Mauritius International Financial Centre (IFC) is a driver of quality investments into Africa. Interestingly, out of the 10 largest recipients of investment in Africa from Mauritius, only 4 of them have concluded a Double Taxation Avoidance Agreement (DTAA) with the island nation.. |
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The BOM slashes Key Repo Rate
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On 9 august 2019, the Monetary Policy Committee (MPC) of the Bank of Mauritius (BOM) agreed to cut the Key Repo Rate (KRR) by 15 basis points to 3.35% p.a. amidst difficult global economic conditions. |
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Mauritius-China Free Trade Agreement
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The Mauritian government has agreed to the signing of the Mauritius-China Free Trade Agreement (FTA) which comprises 17 Chapters encompassing: Trade in Goods, Sanitary and Phyto-sanitary Measures, Technical Barriers to Trade, Competition, Intellectual Property, Electronic Commerce, Trade in Services, Investment, Economic Cooperation, among others.
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The African Continental Free Trade Area Agreement (AfCFTA) |
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| The Mauritian government has ratified the Agreement establishing the African Continental Free Trade Area (AfCFTA) which would enable Mauritian operators to have preferential market access opportunities in the Western, Northern and Central African regions and further provide an incentive for foreign investors to use Mauritius as a manufacturing hub to target the African market. |
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Visit of the United Nations Office on Drugs and Crime (UNODC) |
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| During a recent visit of a delegation of the United Nations Office on Drugs and Crime (UNODC) with the aim of exploring new avenues of cooperation with Mauritius, several agreements were signed.
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Work and Live in Mauritius |
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Relocation to Mauritius: Regulatory updates |
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The Business Facilitation (Miscellaneous Provisions) Act 2019 (the “Act”) was enacted in July 2019 with the main objective of improving the ease of doing business in Mauritius.
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Mauritius signs bilateral air services agreements with the Philippines |
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During recent negotiations held between the Republic of Mauritius and the Republic of the Philippines, it has been agreed that a Bilateral Air Services Agreement will be concluded with the Government of the Republic of the Philippines..
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Andersen Global now present in Mauritius |
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Mauritius becomes the 15th African country in which Andersen Global has a presence through its newly concluded collaboration agreement with ATax Advisors Limited (ATax), a leading tax and advisory firm in Mauritius.
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ITL Data Protection compliance programme - Reminder
As you are aware, we hold your contact details on our database and have been sending you regular newsletters and updates about the latest developments in the Mauritius financial landscape and other areas of interest.
Following recent changes in the EU General Data Protection Regulation (GDPR) and the Mauritius Data Protection Act 2017, we now require your consent to hold your personal data. Please click here to confirm that you still want to hear from us and get the latest news about the Mauritius International Financial Centre.
Should you wish to opt out of our future e-mail communications, please click here to stop receiving correspondence from ITL. Alternatively, you may use the unsubscribe button at the bottom of all our communications or send us an e-mail at unews@intercontinentaltrust.com
Data security and protection is of prime importance to us and we invite you to read our privacy policy which provides information about how we manage and process your personal information.
We are only a phone call or an e-mail away. If you have any comments, questions or concerns about any of the information in our policy, or any issues relating to the processing of personal data by ITL, please contact your regular contact person at ITL or write to us on mauritius@intercontinentaltrust.com |
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DISCLAIMER The information in this e-newsletter was prepared by Intercontinental Trust Limited to provide potential clients with a broad overview of the opportunities available in Mauritius. While all reasonable care has been taken in the preparation of this e-newsletter, Intercontinental Trust Limited accepts no responsibility for any errors it may contain, whether caused by negligence or otherwise, or for any loss, however caused, sustained by any person that relies on it. Readers are advised to consult with appropriate, qualified professional advisors before taking action. Intercontinental Trust Limited will be pleased to discuss any specific issues.
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