As regulators, it is our responsibility to ensure that supervised institutions are operated safely and soundly and comply with applicable laws. Within that framework, however, we also have a strong interest in permitting beneficial innovations to flourish, while ensuring that the risks are appropriately managed.
It is, therefore, of paramount importance to ensure that regulatory and supervisory structures are constantly adapted to changing technologies and business models for them to remain effective. At the level of the Bank of Mauritius, our approach has been characterized by open minds and open door policy.