Previously, quite some prudential norms set by the Bank of Mauritius used to be introduced by way of regulations made by the Minister of Finance. They sometimes used to be lobbied against in the halls of Government.
Financial institutions should be aware of the compelling need to effectively adapt their business models, both in their internal organisation and in their supply of products; it will be especially important to fully exploit the new technologies in order to provide the most suitable financial products for firms and households.