Representatives of Mauritius Finance met on Thursday for the pre-budget consultations organized by the Minister of Finance, Renganaden Padayachy. On the occasion, the participants discussed the future of the financial services sector in Mauritius.

Mauritius Finance was represented by its Vice President, Shamima Mallam-Hassam, Managing Director Samade Jhummun, and Production Manager, Vinod Bussawah. In her speech, Shamima Mallam-Hassam pointed out that the Financial Services sector, which contributes 13% to the Gross Domestic Product (GDP) and employs around 8,000 people, is facing many problems.
According to her, the most urgent challenge remains the removal of Mauritius from the list of jurisdictions under increased surveillance by the FATF and the list of high-risk third countries by the European Commission and Great Britain. Mauritius Finance's proposals include consolidating the base of the sector; identifying measures that can drive growth in the context of the COVID-19 pandemic; the establishment of a single platform to represent operators in the financial services industry; facilitation of economic activities; and the defense of the interests of the Mauritian international financial center locally and abroad.