27 Recent ECB research, for example, suggests that if an EU Member State were to increase its ratio of stock market capitalisation to bank credit from the 25th to the 75th percentile, the average growth rate of its most high-tech industry could be expected to increase by 3.1 percentage points, everything else being equal.28 None of this is to say that banks will become redundant.
It is my pleasure to welcome you to this workshop on Beneficial Ownership. Allow me first and foremost to express the sincere gratitude of Mauritius to the European Union for the invaluable support provided to competent authorities to implement the ICRG Action Plan and exit the FATF Grey list.