Of all the five revocations of banking licences in Mauritius, three were clearly motivated by problems the roots of which were found at the level of Boards of Directors. Members of the Boards of Directors obscenely took advantage of their positions to influence imprudent credit decisions making. The Bank of Mauritius issued 9 Guidelines to the banking industry so far.
Progress is still needed in many key areas, including harmonising taxation and corporate insolvency regimes, and moving towards a single EU capital markets supervisor. Success in these areas would mean more cross-border investments and funding, lower administrative burdens, and lower funding costs.