Bank of Maritius Warns of Fake Bank Cheques

The Bank of Mauritius has released a statement saying that it has come to their knowledge that fake bank cheques, purportedly emanating from banks, are currently in circulation in the country and that certain companies have been victims to such fraudulent practices. The Bank of Mauritius strongly urges members of the public to exercise extreme

The Governor of the Bank of Mauritius Releases Report on Unfair Terms and Conditions in Banking Contracts

The Bank of Mauritius has announced that it proposed to investigate into the terms and conditions of banking contracts, including fees and charges. The objective of this exercise was to gain an in-depth understanding of the terms and conditions governing contracts between a consumer and a financial institution and to help achieve better outcomes. A

The Bank of Mauritius Grants a New Banking Licence to Habib Bank Ltd to Conduct Islamic Banking

The Bank of Mauritius is pleased to announce that it has granted a new banking licence to Habib Bank Limited (HBL) to conduct Islamic banking business through a window operation, alongside its existing banking business. Mr Rundheersing Bheenick, Governor, Bank of Mauritius, handed over the new banking licence to Mr Abid Sattar, Regional General Manager,

The Bank of Mauritius Licenses Two New Banks

The Bank of Mauritius (the Bank) is pleased to announce that it has, granted Banking Licences to two new banks – Warwyck Private Bank Ltd and Banque Richemount Limited – to carry on private banking business in Mauritius. Warwyck Private Bank Ltd and Banque Richemount Limited are the first stand-alone, full-fledged private banks to be

The Bank of Mauritius Cautions Against Skimmed/Cloned Cards

It has come to the knowledge of the Bank of Mauritius that skimmed/cloned cards are in circulation and fraudsters are trying to use them on banks’ ATMs. Card skimming is the illegal copying of information from the magnetic strip of a credit or ATM card. This involves stealing information off a credit card during a

Bank of Mauritius – Year in Review

The Governor of the Bank of Mauritius, Mr Rundheersing Bheenick, recently gave a statement where he reviewed the year gone by and reflected on the present and future outlook. In his address Bheenick said that Headline inflation came down from 4.9 per cent in July 2012 to 3.6 per cent in June 2013 while year-on-year

Barclays Bank Mauritius Restructures and Gets New Banking Licence

At a function held at the Bank of Mauritius Tower, the Bank of Mauritius (the Bank) granted a new banking licence to Barclays Bank Mauritius Limited, a locally incorporated wholly owned subsidiary of Barclays Bank PLC, UK. Barclays Bank PLC, UK is currently conducting its banking activities in Mauritius through its branch, the Barclays Bank