BoM and financial regulator of Luxembourg ink agreement to exchange info

The Bank of Mauritius (BoM) and the Commission de Surveillance du Secteur Financier (CSSF) have signed a Memorandum of Understanding (MoU). The MoU establishes a formal framework for cooperation and assistance between the Mauritian central bank and the Luxembourgish financial services regulatory authority.

By virtue of the MoU, the Bank and the CSSF will now exchange information in the scope of their respective regulatory and supervisory mandates, especially as regards the stability and development of their respective banking and financial systems, compliance with international standards and regulations related to the financial market and banking supervision.

According to a press release issued by the Bank of Mauritius, the MoU also establishes collaboration in the fields of financial inclusion, digital innovation in financial services and Fintech regulation.

Private banking, green finance, risk-based supervision and macro- prudential supervision, virtual assets and cybersecurity, anti-money laundering and combating the financing of terrorism and are also key elements of the MoU.

The MoU was signed by Bank of Mauritius Governor Harvesh Seegolam and by Mr Claude Marx, Director General of the Commission de Surveillance du Secteur Financier.