Mauritius positions itself as finance centre

Mauritian banking legislation has been given an overhaul following the introduction of a new Banking Bill with the main difference being the re-categorisation of the onshore and offshore banking sectors into one. The bill, which is the responsibility of deputy prime minister and finance minister Pravind Kumar Jugnauth, is the latest in a series of initiatives, the ultimate aim of which is to turn Mauritius into a mainstream financial centre. There have been two banking licences available in the country - one for onshore and the other for offshore. Now there will be only one banking lic...