The Ministry of Finance and Economic Development held of the Financial Services Consultative Council (FSCC) yesterday in Port Louis under the Chairmanship of the Financial Secretary, Mr Dev Manraj. The meeting follows the announcement made by the Prime Minister, Dr. Navinchandra Ramgoolam, at the annual dinner of the Mauritius Chamber of Commerce and Industry last week, regarding the need to bring reforms and consolidate the various sectors of the economy, including the financial services sector, and to move to a new threshold of development.
Stakeholders present at the meeting were namely, the Bank of Mauritius, the Financial Services Commission, the Board of Investment, the Mauritius Revenue Authority, the Stock Exchange of Mauritius Ltd, the Insurers’ Association, the Mauritius Bankers’ Association, Global Finance Mauritius and the Association of Trusts and Management Companies.
As provided under the Financial Services Act, the Financial Services Consultative Council acts as a think-tank and serves as a platform for discussing the latest concepts and international trends in the field of financial services and global business and formulates suggestions and ideas for the development of the financial services and global business sectors.
Discussions at the meeting centered on a number of initiatives including: The implementation of the Report “A Roadmap for the Financial Services Industry” by Mr Percy Mistry; Global Communication and Messaging Strategy for the Mauritius Financial Centre; and Product Development.
Similar to the FSCC meeting, the Ministry of Finance and Economic Development proposes to hold a series of consultative meetings with stakeholders of the different sectors of the economy namely agriculture, tourism, manufacturing, services, etc. The objective of these meetings is to reach a consensus on major policy orientation for incorporation in the 2015 budget.
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