Mauritius

The Bank of Mauritius is the highest financial body and central bank of the Republic of Mauritius functioning as the national custodian of the monetary system and macroeconomics of the country. The bank was founded in 1967 and currently functions under the legal jurisdiction of the Bank of Mauritius Act 2004. The Bank of Mauritius acts as the independent body corporation of the government involved in currency issuance, monetary policy making, and foreign exchange reserves management in the country. Besides this, the bank also acts as the supreme supervisory agency of the banking sector in the country.

The responsibilities of the Bank of Mauritius in the legislative process are fulfilled through the implementation of measures related to monetary policy and the strict supervision of the country's banking sector. Inflation and the purchasing power of the Mauritian rupee are regulated by means of the Monetary Policy Committee of the central bank, which regulates interest rates and liquidity. With regard to its operational activity, the central bank is the only financial institution issuing the currency notes and coins of the country, managing the country's foreign exchange reserves, and providing fiscal advice to the government. Additionally, the Bank of Mauritius controls commercial banks and non-bank deposit-taking institutions through the issuance of licenses and inspections in line with international anti-money laundering/financing of terrorism regulations.