This system is characterised by a T+0 settlement, with possibility of real-time payment at higher fees. Banks will access this payment system through their respective central banks. The Bank of Mauritius is earmarked to act as the settlement Bank in the system. Let me now touch on human resource infrastructure, which is of direct relevance to institutions like the University of Technology Mauritius (UTM).
Human resource infrastructure The scarcity of skilled manpower could inhibit the development of the financial sector. In this regard the Mauritian authorities have, rightly so, opened up the island to foreign talent. In addition, tertiary institutions have been designing a range of courses to meet the exigencies of the financial sector in terms of labour requirements.