Mauritius Post launches FOREX Application System and Money Changing Services

The Mauritius Post Foreign Exchange (MPFE) Co Ltd has launched its Integrated FOREX Application System and money changing services.

Speaking at its launch, ICT Minister Deepak Balgobin acknowledged the challenges faced by the MPFE due to the COVID-19 pandemic and the Russian-Ukraine war.

He said the MPFE has expanded its money transfer services and is considered a major player in the Mauritian FOREX market.

The company has obtained approval from the Bank of Mauritius to offer Money Changing Services and plans to provide exchange services in Grand Bay and at the airport.

The MPFE has also developed a website and implemented an Integrated FOREX Application System combining Fintech and Regtech.

Minister Balgobin outlined the strategies implemented by MPFE to grow and sustain its presence, including expanding its money exchange services to 87 Post Offices across the island.

Additionally, the MPFE is working on an Integrated Mobile App with digital wallets to offer convenient money transfer options, expected to be launched by November 2023.

Original article at GIS Mauritius