Silver Bank Enters Receivership on 30 March 2026 After Failed Sale Process

The Bank of Mauritius has terminated the conservatorship of Silver Bank Limited and moved the institution into receivership, effective immediately.

The decision, announced on Monday, 30 March 2026, follows a comprehensive review of the bank’s financial standing and available data by the central bank’s Board of Directors.

Huns Biltoo of KPMG Mauritius has been appointed as the Receiver under the provisions of the Banking Act 2004.

Failed Acquisition

Silver Bank Limited had been under conservatorship since 13 February 2024, when Arvindsingh K. Gokhool was first appointed as Conservator.

While the Bank of Mauritius confirmed that several potential investors had initially expressed interest in a takeover, only one applicant moved forward to seek a significant stake.

Despite being granted multiple extensions since 2024, that applicant failed to complete their dossier.

As of 30 March 2026, no complete application for acquisition had been received by the regulator.

Next Steps for Claimants

The newly appointed Receiver will provide further details regarding claims procedures in due course.

In the interim, concerned parties have been advised to contact the administrative offices at 406 9860.

Market Stability

In a statement accompanying the move, the Bank of Mauritius moved to reassure the public and international markets regarding the health of the local economy.

“The Mauritian banking sector remains stable, well-capitalised, and resilient,” the central bank noted, reasserting its commitment to maintaining financial stability and public confidence.

Source: Defi Media