My reason for going through it is to make the point that a trend towards increased competition in the deposit market, and an increased relative cost of deposits, is not something new. It has been an ongoing consequence of the way market forces have evolved in a deregulated environment.
We need to be alert to the growing impact of the prevalence of gambling in our country for it is l’appât du gain which motivated the public to invest in placements that offered unrealistically high returns. Over the years, the Bank of Mauritius and the Mauritius Bankers Association have developed a strong partnership.