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Banking Research Report
24 March 2017 3rd January 2017 Banking Research Report Industry Overview As of March 2017, the local banking industry constitutes of 23 licensed banks by the Bank of Mauritius (BoM), of which 10 are local banks, 9 are foreign-owned subsidiaries, and 4 are branches of international banks. Of the 23 banks, 2 carry on exclusively private banking business and 1 carries on exclusively Islamic banking business. In April 2015, the BoM revoked the banking licence of Bramer Banking Corporation Ltd (BBCL) owing to serious impairment in its capital and failure to demonstrate its ability to address capital and liquidity issues in accordance to the BoM’s requirements. A new licence has been issued to the National Commercial Bank Ltd (NCB Ltd) with the assets of ex-BBCL transferred to the new bank. In early January 2016, the assets and liabilities of NCB Ltd were transferred to the Mauritius Post and Cooperative Bank Ltd, which now operates as a new entity known as the MauBank Ltd. Following the aforementioned revocation, dealings in the securities of the defunct Bramer Bank has been suspended by the Stock Exchange of Mauritius (SEM) with immediate effect. On another note, ABC Banking Ltd which obtained its banking licence in year 2010, was listed on the Development and Enterprise Market (DEM) of the SEM on the 18th February 2016. The newcomer witnessed a remarkable hike of 83.3% to its introductory share price of Rs15.00 during the year 2016 and hit a record high of Rs27.80 during February this year. With the vision to act as a bridge between Africa and Asia, BOM issued a licence to the Bank of China (Mauritius), a subsidiary of the Bank of China, which started its operations in Sept 2016. -
Effectiveness of Financial Risk Management Framework: an Analysis of the Mauritian Banking Sector
Journal of Financial Risk Management, 2019, 8, 106-124 http://www.scirp.org/journal/jfrm ISSN Online: 2167-9541 ISSN Print: 2167-9533 Effectiveness of Financial Risk Management Framework: An Analysis of the Mauritian Banking Sector Lilesh Sookye, Aleesha Mohamudally-Boolaky University of Technology, Mauritius, Port Louis, Mauritius How to cite this paper: Sookye, L., & Abstract Mohamudally-Boolaky, A. (2019). Effective- ness of Financial Risk Management Frame- The global economic meltdown caused by the subprime mortgage crisis in the work: An Analysis of the Mauritian Bank- United States in 2007 along with its subsequent adverse effects on the econ- ing Sector. Journal of Financial Risk Man- omy, financial participants around the world, have raised questions on the agement, 8, 106-124. effectiveness of the financial risk management policies adopted by financial https://doi.org/10.4236/jfrm.2019.82008 institutions and banks worldwide. This study focuses on the analysis of the Received: April 28, 2019 risk management framework and its efficiency in the Mauritian banking sec- Accepted: June 18, 2019 tor. Panel regression and Non-parametric regression Lowess Smoother meth- Published: June 21, 2019 odologies were employed in measuring the impact of the various financial risks on the efficiency of risk management of a sample of ten Mauritian banks Copyright © 2019 by author(s) and over a period of eight years. The dependent variable selected to measure risk Scientific Research Publishing Inc. This work is licensed under the Creative management efficiency is the Capital Adequacy Ratio (CAR). On the other Commons Attribution International hand, the financial risks indicators are the credit risk (CRisk), liquidity ratio License (CC BY 4.0). -
Bank of Mauritius Covid-19 Household Support Programme Frequently Asked Questions (Faqs)
BANK OF MAURITIUS COVID-19 HOUSEHOLD SUPPORT PROGRAMME FREQUENTLY ASKED QUESTIONS (FAQS) 1. What is the BOM COVID-19 Household Support Programme? The prevailing situation may pose a huge challenge for people at large. As a measure of solidarity, The Bank of Mauritius has permitted all commercial banks to offer households earning a combined monthly basic salary of up to Rs 50,000 the following moratorium on their existing loans: a) Up to 6 months moratorium on capital repayments on their existing household loans as from 01 April 2020. b) In addition, relief on interest payable for the month of April, May and June 2020. 2. What is the definition of a “household”? A household comprises of a husband and wife jointly, or a single parent. 3. What is the effective date of the measures to households? The measures are effective 1st April 2020. Capital and interest repayments remain operational for March 2020. 4. What is a household loan and which credit facilities are concerned? Household loans include all existing consumer Mauritian Rupee loans, which have been disbursed to a household by a commercial bank. Applicable loans are therefore Personal Loans, Housing Loans and Educational Loans. Overdrafts, credit cards, leasing facilities and other such facilities that do not reckon as a loan are excluded. 5. What is the eligibility criteria under the BOM scheme? a. Households having consumer loans with MauBank Ltd and adversely impacted by COVID- 19. b. In addition, the combined monthly basic salary of the household (husband and wife jointly or single parent) should not exceed Rs 50,000* 6. -
Merchants Acceptance of Plastic Cards Payments in Mauritius
Academy of Marketing Studies Journal Volume 25, Issue 2, 2021 Recommendations POST COVID 19 CASHLESS SOCIETIES: MERCHANTS ACCEPTANCE OF PLASTIC CARDS PAYMENTS IN MAURITIUS Sharmila Pudaruth, University of Mauritius Thanika Devi Juwaheer, University of Mauritius Lomendra Vencataya, University of Mauritius Rajesh Sannegadu, University of Mauritius ABSTRACT The paper aims to provide broad insights towards the acceptance of plastic card payments from merchants in Mauritius. A quantitative research approach has been adopted for the paper whereby the perceptions of merchants have been tapped by adopting quantitative research techniques, by conducting a survey with 200 merchants across the 9 districts of the island of Mauritius. As far as the perception of merchants is concerned for plastic card acceptance, only 37% of merchants accept plastic card payments and they have highlighted such factors as ‘to increase frequency sales (21.7%)’, ‘to increase competitiveness (20.8%)’ and ‘lower risks of theft and counterfeit (19.8%)’ as the main reasons for adopting innovative payment solutions. This original research has made a valuable contribution to the body of literature as there is a lack of empirical and holistic studies towards innovative payment solutions in Mauritius. Therefore, the research has enough concrete and empirical findings that would serve as a roadmap for banking executives, credit card companies, policy makers of banking industry and merchants to better promote and sustain the adoption of plastic cards by devising appealing marketing strategies in Post Covid19. The research will also provide merchants with insightful ideas to promote the adoption of plastic cards among customers as merchants are in direct touch with customers in the retail outlets of Mauritius. -
EOH Investor Open Day January 2014
Welcome to our Investor Open Day 2014 Today’s agenda ▲ Welcome Asher Bohbot 1. EOH Corporate Overview John King 2. Technology Platforms and Outsourcing Rob Godlonton 3. EOH Digital Glen Lumley 4. Information Management Jane Thomson 5. IT Management and Optimisation Gary Lawrence 6. Industrial Technologies Zunaid Mayet 7. BPO Johan van Jaarsveld 8. Financial Services – Sybrin Simon Just 9. The way forward and Q&A Asher Bohbot www.eoh.co.za EOH Corporate Overview John King Our EOH Purpose ▲ To provide technology, knowledge, skills and organisational ability, critical to Africa’s development and growth ▲ To be an ethical, relevant force for good and to play a positive role in our society, beyond normal business EOH at a glance Listed in 1998. Best share Leader in technology and performance on the JSE in 2013 knowledge services 7 500 staff 120 locations in SA and in 22 countries in Africa End to end offerings Over 2 000 clients R10bn market cap BBBEE Level 2 A force for good in society EOH Philosophy Best People Partner for Life Right 1st Time To attract, develop and retain the To nurture lifelong partnerships To ensure professional planning best people led by great leaders with our customers and and execution and have pride in business partners all we do Sustainable Transformation Lead & Grow Strive to be #1 in every domain we To transform and celebrate diversity operate in whilst remaining entrepreneurial EOH Operating Model Industry Area FinancialServices Telecommunications Manufacturing & Logistics Mining Energy Retail Central Government -
ANNUAL REPORT MAUBANK Annual Report 2019 001 Table of Contents
ANNUAL REPORT MAUBANK Annual Report 2019 001 Table of Contents 004 Corporate information 007 Chairman Statement 008 Chief Executive Statement 012 Directors’ report 021 Corporate governance report 035 Statement of compliance 037 Statement of management’s responsibility for financial reporting 038 Report from the secretary 039 Independent auditor’s report 043 Statements of financial position 045 Statements of profit or loss and other comprehensive income 047 Statements of changes in equity 049 Cash flow statements for the year ended 050 Notes to the financial statements 154 Management discussion and analysis 173 Administrative information CORPORATE INFORMATION MAUBANK 004 Annual Report 2019 Corporate Information DIRECTORS: Non-Executive Directors Appointed on Resigned on Mr Burkutoola Mahmadally (Chairman) 29 March 2019 Mr Lalloo Said (Chairman) 20 January 2016 01 October 2018 Dr Paligadu Dharamraj (was appointed Acting Chairman on 06 June 2018) 07 March 2015 06 August 2019 Mr Nicolas Jean Marie Cyril 13 March 2015 Mr Putchay Vassoo Allymootoo 20 January 2016 05 September 2019 Mr Gokhool Ashvin Jain 23 February 2016 Mr Nilamber Anoop Kumar 22 March 2016 Mr Codabux Muhammad Javed 10 March 2017 Executive Directors Mr Mungar Premchand 23 November 2018 Mr Nagarajan Sridhar 24 September 2015 21 September 2018 MAUBANK Annual Report 2019 005 KEY MANAGEMENT TEAM: Position Mr Mungar Premchand Chief Executive Officer (As from 23 November 2018) Mr Nagarajan Sridhar (As from 24 September 2015 to 21 September 2018) Chief Executive Officer Mr Vydelingum -
Group Overview and Leadership Reviews
04 MURRAY & ROBERTS | Annual integrated report 2020 OUR NEW STRATEGIC FUTURE Implementation of the Group’s strategy has consolidated our longer-term growth potential, strengthening the Group’s investment case. A MULTINATIONAL …FOCUSED ON THE …DIVERSIFIED TO …DIFFERENTIATED BY …SET FOR GROWTH SPECIALISED NATURAL RESOURCES COUNTER MARKET ENGINEERED IN HIGH-POTENTIAL ENGINEERING AND SECTOR… CYCLICALITY… EXCELLENCE… MARKET SECTORS. CONSTRUCTION GROUP… Our broadened strategic High uncertainty in the Diversification across The Group’s culture of With the capacity to scope includes the near-term outlook for market sectors, regions Engineered Excellence, fund growth and market sectors and global economic growth and service offerings that which embeds shared navigate business regions with the best and commodity price encompass the full learning and continual cycles, and a significant, opportunities for growth, recovery, but medium- engineering and improvement in every high-quality order book diversification and term structural shifts and construction project life aspect of our business, and project pipeline, we differentiation for each of long-term demand cycle, allows us to supports the are confident in our our platforms, as fundamentals in our optimise our earnings competitiveness of our expectation of long-term specialist, rather than market sectors remain potential and spread our business platforms in profitable growth. generalist contractors. favourable. risk through the cycle. highly contested markets. CONSOLIDATING OUR STRATEGIC GAINS In the last five years, despite the pressures of a trying external environment and the work needed to resolve a long tail of complex legacy issues, we achieved significant milestones. The Group entered this year, with a more diversified international presence and stronger positions in our chosen market sectors. -
THE GOVERNMENT GAZETTE of MAURITIUS Published by Authority
THE GOVERNMENT GAZETTE OF MAURITIUS Published by Authority No. 41 - Port Louis : Saturday 12 May 2018 - Rs. 25.00 TABLE OF CONTENTS GENERAL NOTICES 732 — Legal Supplement 733 1 to ? Appointment 734 ) 735 1 to z Declaration of Vacancy 737 ‘ 738 — Dismissal 739 1 to 7 Notice under the Land Acquisition Act 759 J 760 — Notice under the Land Acquisition Act - Corrigendum 761 —-Notice for Public Inspection of EIA Report 762 — Invitation for Bids - Mauritius Prison Service 763 — The Professional Quantity Surveyors’ Council Act 2013 764 — Annual List for Registered Nurses and Midwives (Mauritius and Rodrigues) for the year 2018 765 — Composition of the Board of the Mauritius Society of Authors (MASA) 766 — Statutory Bodies Family Protection Fund Board 2018 767 ' to ■ Notice under the Insolvency Act 773 . 774 1 t° 7 Change of Name 775 ) 776 1 t° 7 Compilation of Register under the Representation of the People Act 796 J 797 1 t° 7 Notice under the National Transport Authority 798 ) 799 1 t° 7 Notice under the Patents, Industrial Designs & Trademarks Act 800 J LEGAL SUPPLEMENT See General Notice No. 732 1874 The Mauritius Government Gazette General Notice No. 732 of 2018 to Cabinet and Head of the Civil Service from 15 to 21 April 2018 daring the absence on LEGAL SUPPLEMENT mission overseas of Mr N.K. Ballah, GOSK, The undermentioned Government Notices are Secretary to Cabinet and Head of the Civil published in the Legal Supplement to this number Service. of the Government Gazette: 2. Mrs Nirmala BHEENICK has been assigned The Dental Council (Medical Institutions) the duties of Secretary at the Public and (Amendment No. -
Tanzania National Voucher Scheme: Hati Punguzo
Tanzania National Voucher Scheme: Hati Punguzo Quarterly Report for January – March 2007 Prepared for The Ministry of Health and Social Welfare, Tanzania and United States Agency for International Development by Mennonite Economic Development Associates Mennonite Economic Development (MEDA) Plot 261 Msonge Street at Old Bagamoyo Rd Mikocheni A PO Box 10817 Dar es Salaam Tanzania Phone +255 (22) 270-1333, -1313, -1334 Fax +255 (22) 270-1297 TABLE OF CONTENTS EXECUTIVE SUMMARY ............................................................................................................ 1 PERFORMANCE INDICATORS.................................................................................................. 2 1.0 Strategy: Design and implement systems to ensure effective and efficient transfer of vouchers to pregnant women via the RCH clinics.............................................................. 2 1.1 Vouchers Procured ..............................................................................................................2 1.2 Regional Logistics Teams Identified and Trained...............................................................2 1.3 Vouchers Issued to the District Medical Officers ...............................................................3 2.0 Strategy: Set up systems of free distribution of IRKs to mothers of infants at vaccination milestones at three and nine months ................................................................................... 5 2.1 Insecticide Re-treatment Kits Secured and Stored:.............................................................5 -
World Bank Document
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized 2 © 2017 The World Bank 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved This work is a product of the staff of The World Bank. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Attribution—Please cite the work as follows: “World Bank. 2021. Mauritius Country Economic Memorandum: Through the Eye of a Perfect Storm.” All queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: [email protected]. 3 ACKNOWLEDGEMENTS This Country Economic Memorandum was produced by a team of World Bank staff and external experts led by Erik von Uexkull (Senior Economist) under the guidance of Mathew Verghis (Practice Manager), Mark Lundell (Country Director for Mauritius until July 2020) and Idah Pswarayi-Riddihough (current Country Director). -
Mauritius RISK & COMPLIANCE REPORT DATE: May 2017
Mauritius RISK & COMPLIANCE REPORT DATE: May 2017 KNOWYOURCOUNTRY.COM Executive Summary - Mauritius Sanctions: None FAFT list of AML No Deficient Countries Not on EU White list equivalent jurisdictions Higher Risk Areas: Offshore Finance Centre Non - Compliance with FATF 40 + 9 Recommendations Medium Risk Areas: Corruption Index (Transparency International & W.G.I.) Failed States Index (Political Issues)(Average Score) Major Investment Areas: Agriculture - products: sugarcane, tea, corn, potatoes, bananas, pulses; cattle, goats; fish Industries: food processing (largely sugar milling), textiles, clothing, mining, chemicals, metal products, transport equipment, nonelectrical machinery, tourism Exports - commodities: clothing and textiles, sugar, cut flowers, molasses, fish Exports - partners: UK 18.7%, France 16.4%, US 10.4%, South Africa 9.7%, Spain 7.6%, Italy 7.1%, Madagascar 6.7% (2012) Imports - commodities: manufactured goods, capital equipment, foodstuffs, petroleum products, chemicals Imports - partners: India 23.7%, China 15.3%, France 8.9%, South Africa 6.3% (2012) Investment Restrictions: 1 Of the 33 economic sectors looked at in the World Bank report, 32 are fully open to foreign investment in Mauritius. The only exception is television broadcasting, where foreign capital participation in a company must be less than 20%. However, the World Bank report draws attention to the difficulties of investing in certain sectors in Mauritius such as electricity generation and distribution as well as port and airport management, due to -
Records Digitisation Technologies and Systems in the Banking Sector in Kenya
Section 7: 329 Management of Electronic Records Records Digitisation Technologies and Systems in the Banking Sector in Kenya *Malenya Lusimba1, Tom Kwanya2 1Bank of Africa, Nairobi - Kenya 2The Technical University of Kenya, Kenya Email: *[email protected] Abstract Whereas some studies on digitisation in the banking sector in Kenya have been conducted, none has investigated the technologies and systems used as well as their suitability for the purpose. By using a fit-viability analysis, this chapter investigates the digital technologies and systems used by banks in Kenya to digitise their records; assesses their fit to the needs of the banks; examines their viability for the Kenyan banking environment; and proposes strategies to enhance the fit and viability of digitisation technologies and systems to the Kenyan context as a means of enhancing the benefits of digitisation for banks in the country. The study from which the chapter is extracted was an exploratory survey. Primary data was collected using key informant interviews from records managers of various banks selected through information-oriented purposive sampling. The data was analysed using conversation analysis. The results of the study reveal that banks in Kenya use diverse systems to digitise records. These systems fit the requirements of the banks and are viable in their economic, infrastructural and organisational contexts. Keywords: Banks, Digitisation, Digital Records, Fit-Viability Analysis, Kenya 1 Introduction Kenya’s financial system comprises of numerous commercial banks, non-bank financial institutions, a range of insurance companies and a stock exchange. Similarly, there has been a phenomenal growth of non-bank financial intermediaries. The insurance industry has also experienced a rapid expansion, both in terms of firms and customer numbers and range of services offered.