MAURITIUS Law and Practice Contributed by: Valerie Bisasur, Jean-Vincent Dacruz and Shane Mungur, BLC Robert & Associates
In 2024, the BoM introduced its Guideline on Regulatory Sandbox Authorisation. This guide - line allows financial institutions to test fintech, regtech and other innovative financial solutions within a controlled environment under the BoM’s oversight. The goal is to promote technology- driven financial innovations that introduce new business models, processes or products or that facilitate regulatory compliance. Applicants must meet eligibility criteria and submit applications detailing potential risks, necessary safeguards and required disclosures for users. Testing peri - ods under this authorisation extend up to 12 months, with possible further extensions, sup - porting innovation while ensuring consumer pro - tection and financial system integrity.
In conclusion, Mauritius’ banking sector is advancing on a transformative journey, focus - ing on digital innovation, sustainable finance, cybersecurity enhancement and regulatory modernisation. These initiatives collectively aim to elevate Mauritius as a resilient, future-ready financial centre in the region.
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