Financial Services: End of the Incestuous Relationship Between BoM and FSC

Mauritius began to welcome its first banks around 1838. However, it was only in 1958 that the first banking regulator emerged under the provisions of Ordinance no 1. The financial secretary had control over the existing banks – Barclays Bank D.C.O., Mauritius Commercial Bank Limited, and Mercantile Bank Limited. It was not until 1966, under Ordinance no 43, that the Bank of Mauritius (BoM) was established with a role ...