The Financial Services Commission (FSC) of Mauritius officially launched the Regional Centre of Excellence on 15 March 2019 as part of a joint initiative with the Organisation of Economic Cooperation and Development (OECD) to deliver capacity building programmes primarily aimed at financial services and law enforcement agencies from Southern and Eastern Africa.
The Centre will also conduct research on topical areas relevant to financial services and financial malpractices for the regional market, advising on minimum standards that need to be introduced at regional levels.
The capacity building program delivered by the Centre will be facilitated by the OECD and other international standards setting bodies and experts, ensuring that best practices are followed.
Mauritius is well known for its adherence to effective corporate governance practices, regularly topping the Ibrahim Index of African Governance (IIAG) and in 2019, joining the world's top 20 nations on the World Bank's Ease of Doing Business rankings. Its commitment to best practices and innovation provides it with the complete toolbox to help facilitate cross-border investments both into Africa and Asia, making it an attractive destination for businesses wishing to expand their operations into emerging markets.
The Regional Centre of Excellence will no doubt reflect positively on the reputation of Mauritius as an International Financial Centre as well as enhance our capabilities to service international investors in an increasingly regulated and complex environment.
The collaboration of the OECD and other international bodies will ensure that the Regional Centre of Excellence is aligned with the world’s best practices. At the same time, giving to the Centre a regional mandate will ensure all regulators in the region benefit from capacity building, also enticing them to collaborate further for the benefit of the industry.