Bank of Mauritius Revokes Silver Bank Licence following 30 March Receivership

Silver Bank is no longer authorised to operate as a banking entity within Mauritius. The Bank of Mauritius has officially revoked the banking licence of Silver Bank Limited, effective immediately, according to a statement released on 30 April 2026.

The decision marks the final cessation of the bank’s operations following a period of intense regulatory scrutiny and restructuring efforts.

Regulatory Action

The withdrawal of the licence, which was originally granted on 11 November 2021, was carried out under Section 11(1)(h) of the Banking Act.

This move follows the conclusion of the bank’s period under conservatorship, which ended on 30 March 2026.

Receivership Details

Upon the termination of the administration period last month, Huns Biltoo of KPMG Mauritius was appointed as the Receiver for Silver Bank Limited.

This appointment was made in accordance with Section 75 of the Banking Act, signalling the transition from attempted rehabilitation to the formal winding down of the entity’s banking functions.

The Bank of Mauritius confirmed that the immediate revocation ensures Silver Bank Limited is stripped of all legal authority to conduct banking business in the jurisdiction as of this Thursday, 30 April.

Source: Defi Media