While it may be the case that banks in the end hold fewer credits on their balance sheets, I believe that it would be wrong to say that banks now play a less important role in credit markets. Banks, as well as securities firms, are at the centre of a new risk intermediation landscape that is increasingly based on traded products.
This, too, should not leave us complacent. Ours is a jurisdiction that still is viable and has a bright future provided there is a coherent national strategy to chalk out a path for sustained growth and development. The Bank of Mauritius along with some banks is already engaged in this pathfinding exercise.