Over the last decade the financial environment of Mauritius saw a few major changes largely reflecting international trends in deregulation and liberalisation as well as the globalisation of financial markets. Interest rates have been fully liberalised since 1987 and as of 1991 the Bank of Mauritius has embarked upon 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 then acceded to IMF Article VIII Status.

Today the financial system is composed of an array of institutions including well-established commercial banks, insurance companies and a number of non-bank financial intermediaries.