As we welcomed global players in our jurisdiction and as our economy developed, the Mauritian financial system became increasingly integrated with international financial markets. On the downside, we also became increasingly exposed to the risk of instability, and more vulnerable to external shocks. The Bank of Mauritius has the responsibility to ensure the stability and soundness of the financial system of the country.
While this financial stability role of the Bank is not a new one, it was brought into sharper focus by the legislative changes to the responsibilities of the Bank in 2004.