The Financial Services Commission (FSC) Mauritius and the Bank of Mauritius (BoM) have signed a Protocol to amend the Memorandum of Understanding (MoU) between BoM and the FSC at the Bank of Mauritius Tower, Port Louis, on Wednesday 08 February 2012. The signatories of the Protocol are Mr Yandraduth Googoolye, First Deputy Governor of the Bank of Mauritius and Ms Clairette Ah‐Hen, Chief Executive of the Financial Services Commission.
The MoU was originally signed in December 2002 to set out the framework for cooperation between BoM and the FSC in their common pursuit to maintain a safe, efficient and stable financial system in Mauritius.
The reputation of the Mauritius International Financial Centre, however, lies on compliance with standards set by international standard‐setting organisations and international norms relating, inter
alia, to the disclosure and exchange of information.
While the FSC has been complying with the International Organization of Securities Commissions (IOSCO) principles for the past years in matters of exchange of information with its counterparts, there were a few amendments that were required within our legal framework to enable Mauritius to fully subscribe to the IOSCO Multilateral Memorandum of Understanding (MMoU).
The present amendment to the MoU reinforces the framework for effective exchange of information between BoM and the FSC and enables Mauritius to comply with one of the requirements imposed under the IOSCO MMoU.
BoM and the FSC are pleased that the signature of this Protocol will bring Mauritius on the same level as other internationally recognized‐financial centres and reaffirm their commitment to collaborate further to safeguard the stability of the domestic financial system.
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