The Bank of Mauritius has also kept pace with the evolving best practices set by international standard setters and issued a new Guideline on Corporate Governance in August 2012. This Guideline, I must say, was released to the industry after rather lengthy consultations with the banking community and the public at large.
The Guideline was issued for public consultation in November 2010 and it was finalized after nearly two years. The Bank of Mauritius adopted a collaborative approach on this front and discussion groups were set up with banks. We even received comments from the MIOD for which we are very thankful and we thank everyone who participated in this initiative.