The Bank of Mauritius is fully aware that it has a role to play in supporting innovation by individual banks. It has also been active on this front with a heightened role in the area of regional integration. Central banks’ concerns are however of a different nature.
Central banks look at the critical role of a smoothly functioning payment system in maintaining financial stability and in promoting the orderly and balanced development of the economy. The Bank initiated a number of projects, regrettably those projects have been unduly stalled – for reasons that I would not wish to evoke here.