In its latest Article IV assessment of Mauritius, the IMF found the jurisdiction’s financial system to be well developed, sound, and profitable, whilst the authorities' response to the recommendations of the Financial Sector Assessment Program carried out in 2003 was welcomed.
The report noted that the development of an efficient corporate bond market would allow institutional investors to diversify their portfolios and help reduce credit concentration, and could strengthen the overall stability and soundness of the financial system.
The issuance of guidance notes to banks on anti-money laundering and countering the financing of terrorism, and the passage of the Convention on the Suppression of the Financing of Terrorism Act 2003 was welcomed by the IMF.
The IMF Directors also commended the authorities for their efforts to diversify the economy and create new job opportunities by developing the financial services, tourism, and information and communications technology sectors.
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