An Overview of the Mauritian Financial System and Its Economy

Abstract

The aim of this chapter is to introduce the main features and components which characterize the Mauritian economy and its financial system. The first part of this chapter focuses on the various components which make up the Mauritian financial system. The second part deals with the various features of the Mauritian economy not only descriptively but also under a critical lens of analysis. For instance, it is found that the interest rate spread data posted under the World Bank development indicators are not compatible with the reality of the Mauritian economy or with the data disseminated in the Bank of Mauritius monthly statistical bulletins. In a nutshell, the overall aim of this chapter is to make the readers conversant with the Mauritian economy.

Appendix

List of banks, non-bank deposit taking institutions, money-changers and foreign exchange dealers licensed by the Bank of Mauritius, as reported as at end January 2016 by the Bank of Mauritius.

1.1 Banks

• 1. ABC Banking Corporation Ltd

• 2. AfrAsia Bank Limited

• 3. Bank One Limited

• 4. Bank of Baroda

• 5. Banque des Mascareignes Ltée

• 6. Banque Privée de Fleury Limited

• 7. BanyanTree Bank Limited

• 8. Barclays Bank Mauritius Limited

• 9. Century Banking Corporation Ltd

• 10. Deutsche Bank (Mauritius) Limited

• 11. Habib Bank Limited

• 12. HSBC Bank (Mauritius) Limited

• 13. Investec Bank (Mauritius) Limited

• 14. MauBank Ltd

• 15. P.T Bank Internasional Indonesia

• 16. SBI (Mauritius) Ltd

• 17. Standard Bank (Mauritius) Limited

• 18. Standard Chartered Bank (Mauritius) Limited

• 19. SBM Bank (Mauritius) Ltd

• 20. The Hongkong and Shanghai Banking Corporation Limited

• 21. The Mauritius Commercial Bank Limited

• 22. Warwyck Private Bank Ltd

1.2 Non-Bank Deposit Taking Institutions

• 1. AXYS Leasing Ltd

• 2. Cim Finance Ltd

• 3. Finlease Company Limited

• 4. La Prudence Leasing Finance Co. Ltd

• 5. Mauritius Housing Company Ltd

• 6. Mauritian Eagle Leasing Company Limited

• 7. SICOM Financial Services Ltd

• 8. The Mauritius Civil Service Mutual Aid Association Ltd

1.3 Money-Changers (Bureaux de Change)

• 1. Abbey Royal Finance Ltd

• 2. Change Express Ltd

• 3. Easy Change (Mauritius) Co. Ltd

• 4. EFK Ltd

• 5. Iron Eagle Ltd

• 6. Moneytime Co. Ltd

• 7. Unit E Co Ltd

• 8. Viaggi Finance Ltd

• 9. Vish Exchange Ltd

1.4 Foreign Exchange Dealers

• 1. British American Exchange Co. Ltd

• 2. Cim Forex Ltd

• 3. Island Premier Foreign Exchange Ltd

• 4. Shibani Finance Co. Ltd

• 5. Thomas Cook (Mauritius) Operations Company Limited