There is a general feeling that we have put in place a more stringent framework than what Basel Norms require. Of course one would point out to the 9 percent CRAR, the 4.5 leverage ratio, the SLR running parallel with LCR, the higher CCF for OTC derivatives and the like. We need to see this in a context.
With 36 Double Taxation Avoidance Agreements (DTAA) in force, nine others awaiting ratification and 12 DTAAs under negotiation as well as half a dozen Tax Information Exchange Agreements (TIEA) in place and others in the pipeline, Mauritius has demonstrated that it is committed to the concepts of transparency and effective exchange of information.