Over the last decade the financial environment of Mauritius saw a few major changes largely reflecting international trends in deregulation, liberalisation as well as globalisation of financial markets. Interest rates have been fully liberalised since 1987 and as from 1991 the Bank of Mauritius on a programme of monetary policy reforms aimed at introducing effective open market operations. The emergence of a market-based financial sector was supported by continuing liberalisation of foreign exchange restrictions until their ultimate suspension in July 1994 – Mauritius has thus acceded to IMF Article VIII Status.
Today the financial system comprises an array of institutions including well-established commercial banks, insurance companies and a number of non-bank financial intermediaries.
