Mauritius has a hybrid system of law as far as banking and financial laws are concerned, incorporating both English and French laws. Those laws are regularly updated to keep up with international trends and consolidate the status of Mauritius as a major international financial centre whilst at the same time maintaining its business-friendly environment.
The Bank of Mauritius is the central bank and one of its main functions is to license, regulate and supervise banks licensed under the Banking Act 2004 as well as money changers and foreign exchange dealers.The Bank of Mauritius is a member of the Islamic Financial Services Board. Islamic Banking was recently introduced in Mauritius and a few banks already provide Islamic Banking services locally.
Juristconsult closely follows all developments in the area of Banking Law in Mauritius and is well-versed in all innovative fields of banking, including e-banking and e-finance.
Juristconsult provides banking related advice, assists clients with regulatory issues regarding anti-money laundering provisions and financial intelligence.
The Securities Act 2005 has modernized our laws in relation to securities and financial products. The Insolvency Act 2009 establishes a clearer framework for netting and set off in relation to ISDA agreements and the trading in derivatives.
The Mauritius Stock Exchange which comprises of the Official Market and the Development and Enterprise Market has been given a new impetus with the new Securities legislation. A new Commodities Exchange, namely the Global Board of Trade is now in operation.
Juristconsult provides advice, transactional support and litigation solutions to lenders, borrowers, financiers, corporate clients and investors based locally and internationally.
Our key areas of practice include: