Connect with us

Business

Scam Alert: ‘FirstMaubank’ does not hold license, warns BoM

Published

on

The Bank of Mauritius has issued a warning that an entity by the name of “FirstMaubank Limited”, is allegedly purporting to be holding a “Banking licence from Mauritius Free Zone”.

“Members of the public are advised that the said ‘FirstMaubank Limited’ is neither licensed nor regulated by the Bank and are consequently cautioned against dealing with this entity,” the BoM said in a ‘Scam Alert’ issued on September 8.

The Central Bank cautioned that, pursuant to section 5(1) of the Banking Act, no person shall engage in banking business, Islamic banking business, digital banking business or private banking business in Mauritius without a banking licence it has issued.

A list of financial institutions duly licensed by the Bank of Mauritius is available on the Bank’s website at https://www.bom.mu/financial-stability/supervision/licensees/list-of-licensees.

Bookmark(0)

No account yet? Register

Spread the News
The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.
Click to comment

Leave a Reply

Your email address will not be published.

The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.

Can you support?

Dear Reader,

NewsMoris is a media service that is dependent on support from its readers in the form of subscriptions.

As a startup that was born in and faring through challenging times like these, we need your support now more than ever.

Subscribing for as little as USD10/month is the best way you can support our efforts.

Thank you.