The removal of the Mauritian jurisdiction from the Financial Action Task Force (FATF) grey list is a relief for the Mauritian financial sector, mainly for the offshore players.
For former Finance Minister Rama Sithanen, chairman of Sanne Mauritius, the exit will “reinvigorate the business sector and enhance the competitiveness and attractiveness of Mauritius as a financial center for cross-border investments in Asia and Africa. He made this statement to India’s Business Standard.
According to him, it is only a matter of time before the European Union and the United Kingdom remove Mauritius from their list of high-risk countries.
For some specialists in the field, this is a boon for several investment funds, especially those dedicated to India. The Reserve Bank of India (RBI) had rejected some NBFC license applications last year when investments were channeled through Mauritius. Currently, any Mauritian REIT can only acquire voting rights in an NBFC that does not exceed 20 percent of the total shareholding.
