Jul 7, 2014 | Business
With the abolition of the EU sugar quota by 2017 looming large, the government is coming to the rescue to the planters, especially small and medium farmers. Accordingly, the government launched the scheme for providing 80% advance payment to small and medium sugarcane...
Jun 9, 2014 | Business
While providing banking is a privilege, using banking is the right of every citizen, in the words of the central bank governor, as he echoed the sentiments of a report released on Friday to address issues faced by bank customers. ‘Banking services are not meeting our...
May 14, 2014 | Business
Growth in credit to the private sector, which stood at 9.4% in January 2013, declined to -0.5% in February 2014, according to a report by the Bank of Mauritius (BoM). The central bank noted a sliding trend in credit to the private sector as a percentage of GDP. This,...
Apr 29, 2014 | Business
Banks in Mauritius have approved a cumulative Rs 168 million worth of student loans over almost a year’s duration between April 15, 2013 and March 31, 2014, according to central bank data. Data released by the Bank of Mauritius showed that, of this amount, Rs 141...
Apr 29, 2014 | Business
Mauritius held its key repo rate unchanged at 4.65% in the latest Monetary Policy Committee meeting (MPC) held yesterday, April 28, 2014. It may be noted that Bank of Mauritius (BOM) Governor Rundheersing Bheenick has been arguing in favour of an increase in the key...
Apr 29, 2014 | Business
The financial sector in Mauritius has been deepened with the addition of two new banks, Warwyck Private Bank Ltd and Banque Richemount Limited, which are the first stand-alone, full-fledged private banks to be licensed in Mauritius. The Bank of Mauritius on Friday...
Apr 23, 2014 | Business
Mauritius banking system remains well-capitalized, profitable, and resilient to shocks, according to IMF directors at the recently concluded Article IV consultation with Mauritius. However, they observed that persistent excess liquidity in the banking system has...
Apr 22, 2014 | Business
On the occasion of Earth Day today, it is interesting to reflect on how the new polymer notes released by the central bank of Mauritius are helping in the island’s go green initiative. Besides being more practical for an island economy since they are waterproof, these...
Apr 9, 2014 | Business
Gross international reserves hit Rs 112.02 billion in March 2014, increasing by Rs 1.81 billion over the previous month, according to data released yesterday by the central bank of Mauritius. Bank of Mauritius stated that the gross international reserves of Mauritius...
Apr 7, 2014 | Business
In the latest flare-up in the row between the central bank and the government, the Governor of the Bank of Mauritius stressed that Mauritius must raise interest rates if it intends to achieve the year-end inflation target of four per cent. Talking to Reuters, Bheenick...
