A two-day workshop of the Financial Services Commission (FSC) to further highlight developments in Fintech and Blockchain innovation and the implications for policy and regulation. The two-day event also saw the launch of the Organisation for Economic Co-operation and Development’s (OECD) logo in collaboration with the FSC Regional Centre of Excellence (RCE) and the website.
These two events, marking the 7th RCE workshop, took place on Tuesday 26 July and Wednesday 27 July at the Maritim Resort & Spa in Balaclava. For these two days of workshops, there were more than 200 physical participants and about 400 online participants from various countries, who followed the various brainstorming sessions and presentations live.
The focus was on digitization and innovation in financial services and technology, or Fintech. Dhanesswurnath Thakoor, CEO of the FSC, also elaborated on why regulations are needed and what they need to regulate in Fintech, RegTech and the Digital SME of tomorrow in collaboration with the Bank of Mauritius (BOM). The CEO also highlighted the “Fintech lending for SME financing and COVID-19 support schemes, taking stock of recent developments and opportunities of new lending models in the COVID-19 context“.
The workshop was attended by Mahen Kumar Seeruttun, Minister of Financial Services and Good Governance and Dr. Renganaden Padayachy, Minister of Finances. Guests of honor and speakers also included Harvesh Kumar Seegolam, Governor of the BOM, Carmine Di Noia, Antonio Gomes, and Oliver Garrett-Jones from OECD and Mardayah Kona Yerukunondu, Chairperson of the FSC.
Renganaden Padayachy explained that “it is important for Mauritius to be visible and work closely with international institutions such as the OECD which is a key body in the world of taxation and finance. We are working to improve all our indices and take advantage of the OECD’s capabilities to increase our capacity. We started this collaboration when we signed the MoU in 2018 in Paris.”
Harvesh Seegolam, Governor of the Bank of Mauritius and Chairman of the RCE, delivered “in the coming days, Mauritius will sign a new collaboration agreement with the OECD allowing for more training and capacity building for all regulators and law enforcement agencies both in Mauritius and in the region.”
Minister Mahen Seeruttun said, “Fintech is evolving rapidly and we are understanding all its workings. An OECD office is a testament to the reputation of Mauritius and the confidence that this financial institution has in Mauritius. It was time for the platform to get its own identity to give more visibility to financial services.”
