Mauritius : Financial Sector Assessment
This Financial Sector Assessment (FSA) is the joint IMF-World Bank work, based on the context of the Financial Sector Assessment Program (FSAP), intended to identify strengths, and vulnerabilities, as well as development needs of the financial sect...
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
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Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2003/08/2506938/mauritius-financial-sector-assessment http://hdl.handle.net/10986/14340 |
| id |
okr-10986-14340 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ANNUITIES ASSET DIVERSIFICATION ASSET VALUE AUDITING AUTHORITY BANK EXPOSURE BANK LENDING BANK OF MAURITIUS BANK SOLVENCY BANKING REGULATION BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKS BRANCH BANKING CAPITAL ADEQUACY CAPITAL BASE CAPITAL FLOWS CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CIVIL SERVICE COMPETITIVENESS CONSOLIDATED SUPERVISION CONSOLIDATION CONSUMER PROTECTION CONTINGENT LIABILITY CONTRACTUAL SAVINGS CONTRACTUAL SAVINGS INSTITUTIONS CORPORATE GOVERNANCE CORPORATE INSOLVENCY CORRUPTION COVERAGE CREDIT RISK DEPOSIT INSURANCE DEPOSITORS DEPOSITS DISCLOSURE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ELECTRONIC FUNDS ELECTRONIC FUNDS TRANSFERS EMERGING MARKETS EMPLOYMENT ENACTMENT FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL RATIOS FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FISCAL FISCAL DEFICITS FISCAL YEAR FOREIGN BANKS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS FRAUD GOVERNMENT POLICY GOVERNMENT SECURITIES HOUSING HOUSING FINANCE INCOME LEVELS INSOLVENT INSOLVENT BANKS INSPECTIONS INSTITUTIONAL FRAMEWORK INSURANCE COMPANIES INSURANCE INDUSTRY INSURERS INTEGRATED REGULATION INTEREST INCOME INTEREST RATES INTERNAL AUDIT INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS LABOR FORCE LABOR MARKET LEGAL FRAMEWORK LEGISLATION LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUID ASSETS LIQUIDATION LIQUIDITY MACROECONOMIC STABILITY NARROW BANKING NET INTEREST MARGIN NONPERFORMING LOANS OPERATING COSTS OPERATIONAL RISK PAYMENT SYSTEMS PENSION FUNDS PENSIONS PORTFOLIO DIVERSIFICATION PORTFOLIOS PROBLEM BANKS PRODUCERS PROFITABILITY PROGRAMS PRUDENTIAL REQUIREMENTS PUBLIC DEBT REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY REGIMES REINVESTMENT RISK RETIREMENT RETURN ON ASSETS RETURN ON EQUITY RISK DIVERSIFICATION RISK MANAGEMENT SAVINGS SECURITIES SECURITIES TRADING SETTLEMENT SYSTEMS STOCK MARKETS SUBSIDIARIES SYSTEMIC RISK TAX INCENTIVES TAX TREATMENT TECHNICAL ASSISTANCE TIME DEPOSITS UNEMPLOYMENT VENTURE CAPITAL WAGES FINANCIAL SYSTEMS ASSESSMENTS BANK-FUND COOPERATION DIVERSIFICATION SUGAR INDUSTRY TEXTILES COMPETITIVENESS PRICE STRUCTURES PRIVATE SECTOR DEVELOPMENT PUBLIC-PRIVATE PARTNERSHIPS KNOWLEDGE BASED SYSTEMS SERVICES DELIVERY INFORMATION TECHNOLOGY COMMUNICATION TECHNOLOGY EDUCATION SECTOR LABOR DEMAND BANKING SYSTEMS BANK SUPERVISION RISK DIVERSIFICATION GOVERNMENT LIABILITY |
| spellingShingle |
ACCOUNTING ANNUITIES ASSET DIVERSIFICATION ASSET VALUE AUDITING AUTHORITY BANK EXPOSURE BANK LENDING BANK OF MAURITIUS BANK SOLVENCY BANKING REGULATION BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKS BRANCH BANKING CAPITAL ADEQUACY CAPITAL BASE CAPITAL FLOWS CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CIVIL SERVICE COMPETITIVENESS CONSOLIDATED SUPERVISION CONSOLIDATION CONSUMER PROTECTION CONTINGENT LIABILITY CONTRACTUAL SAVINGS CONTRACTUAL SAVINGS INSTITUTIONS CORPORATE GOVERNANCE CORPORATE INSOLVENCY CORRUPTION COVERAGE CREDIT RISK DEPOSIT INSURANCE DEPOSITORS DEPOSITS DISCLOSURE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ELECTRONIC FUNDS ELECTRONIC FUNDS TRANSFERS EMERGING MARKETS EMPLOYMENT ENACTMENT FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL RATIOS FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FISCAL FISCAL DEFICITS FISCAL YEAR FOREIGN BANKS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS FRAUD GOVERNMENT POLICY GOVERNMENT SECURITIES HOUSING HOUSING FINANCE INCOME LEVELS INSOLVENT INSOLVENT BANKS INSPECTIONS INSTITUTIONAL FRAMEWORK INSURANCE COMPANIES INSURANCE INDUSTRY INSURERS INTEGRATED REGULATION INTEREST INCOME INTEREST RATES INTERNAL AUDIT INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS LABOR FORCE LABOR MARKET LEGAL FRAMEWORK LEGISLATION LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUID ASSETS LIQUIDATION LIQUIDITY MACROECONOMIC STABILITY NARROW BANKING NET INTEREST MARGIN NONPERFORMING LOANS OPERATING COSTS OPERATIONAL RISK PAYMENT SYSTEMS PENSION FUNDS PENSIONS PORTFOLIO DIVERSIFICATION PORTFOLIOS PROBLEM BANKS PRODUCERS PROFITABILITY PROGRAMS PRUDENTIAL REQUIREMENTS PUBLIC DEBT REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY REGIMES REINVESTMENT RISK RETIREMENT RETURN ON ASSETS RETURN ON EQUITY RISK DIVERSIFICATION RISK MANAGEMENT SAVINGS SECURITIES SECURITIES TRADING SETTLEMENT SYSTEMS STOCK MARKETS SUBSIDIARIES SYSTEMIC RISK TAX INCENTIVES TAX TREATMENT TECHNICAL ASSISTANCE TIME DEPOSITS UNEMPLOYMENT VENTURE CAPITAL WAGES FINANCIAL SYSTEMS ASSESSMENTS BANK-FUND COOPERATION DIVERSIFICATION SUGAR INDUSTRY TEXTILES COMPETITIVENESS PRICE STRUCTURES PRIVATE SECTOR DEVELOPMENT PUBLIC-PRIVATE PARTNERSHIPS KNOWLEDGE BASED SYSTEMS SERVICES DELIVERY INFORMATION TECHNOLOGY COMMUNICATION TECHNOLOGY EDUCATION SECTOR LABOR DEMAND BANKING SYSTEMS BANK SUPERVISION RISK DIVERSIFICATION GOVERNMENT LIABILITY World Bank Mauritius : Financial Sector Assessment |
| geographic_facet |
Africa Mauritius |
| description |
This Financial Sector Assessment (FSA)
is the joint IMF-World Bank work, based on the context of
the Financial Sector Assessment Program (FSAP), intended to
identify strengths, and vulnerabilities, as well as
development needs of the financial sector. The report thus
summarizes main findings, and policy recommendations as
follows. Mauritius has been remarkably successful in
achieving rapid growth, and substantial diversification of a
formerly mono-agricultural economy. However, maintaining the
past high rates of growth, and employment will pose a major
challenge. The trade preferences on which two of the pillars
of the economy are founded are being eroded, forcing the
sugar and textile industries, to significantly improve their
competitiveness, or lose market share to larger, lower-cost
producers. In partnership with the private sector, the
government is taking decisive measures to build a knowledge
economy based on higher value-added services, notably in
information and communication technologies. They have also
adopted programs to modernize, and improve competitiveness
in the sugar and textile industries, and, are investing
heavily in education, in order to realign the labor force
with the requirements of the new engines of growth.
Mauritius has a relatively large and well-developed domestic
financial system, and a growing offshore sector, however,
the country needs to further diversify its financial sector,
namely within the banking system. This includes continuing
the strengthening of banking supervision, fostering the
development of alternatives to bank lending to reduce
portfolio concentrations, and increase competition.
Additionally, there is the need to encourage sound
international risk diversification, by strengthening
provisioning levels, so as to enhance the resilience of the
system to a downturn in economic activity, and, by reducing
the government's implicit contingent liability in the
banking system. |
| format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Mauritius : Financial Sector Assessment |
| title_short |
Mauritius : Financial Sector Assessment |
| title_full |
Mauritius : Financial Sector Assessment |
| title_fullStr |
Mauritius : Financial Sector Assessment |
| title_full_unstemmed |
Mauritius : Financial Sector Assessment |
| title_sort |
mauritius : financial sector assessment |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2003/08/2506938/mauritius-financial-sector-assessment http://hdl.handle.net/10986/14340 |
| _version_ |
1764428022862053376 |
| spelling |
okr-10986-143402021-04-23T14:03:17Z Mauritius : Financial Sector Assessment World Bank ACCOUNTING ANNUITIES ASSET DIVERSIFICATION ASSET VALUE AUDITING AUTHORITY BANK EXPOSURE BANK LENDING BANK OF MAURITIUS BANK SOLVENCY BANKING REGULATION BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKS BRANCH BANKING CAPITAL ADEQUACY CAPITAL BASE CAPITAL FLOWS CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CIVIL SERVICE COMPETITIVENESS CONSOLIDATED SUPERVISION CONSOLIDATION CONSUMER PROTECTION CONTINGENT LIABILITY CONTRACTUAL SAVINGS CONTRACTUAL SAVINGS INSTITUTIONS CORPORATE GOVERNANCE CORPORATE INSOLVENCY CORRUPTION COVERAGE CREDIT RISK DEPOSIT INSURANCE DEPOSITORS DEPOSITS DISCLOSURE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ELECTRONIC FUNDS ELECTRONIC FUNDS TRANSFERS EMERGING MARKETS EMPLOYMENT ENACTMENT FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL RATIOS FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FISCAL FISCAL DEFICITS FISCAL YEAR FOREIGN BANKS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS FRAUD GOVERNMENT POLICY GOVERNMENT SECURITIES HOUSING HOUSING FINANCE INCOME LEVELS INSOLVENT INSOLVENT BANKS INSPECTIONS INSTITUTIONAL FRAMEWORK INSURANCE COMPANIES INSURANCE INDUSTRY INSURERS INTEGRATED REGULATION INTEREST INCOME INTEREST RATES INTERNAL AUDIT INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS LABOR FORCE LABOR MARKET LEGAL FRAMEWORK LEGISLATION LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUID ASSETS LIQUIDATION LIQUIDITY MACROECONOMIC STABILITY NARROW BANKING NET INTEREST MARGIN NONPERFORMING LOANS OPERATING COSTS OPERATIONAL RISK PAYMENT SYSTEMS PENSION FUNDS PENSIONS PORTFOLIO DIVERSIFICATION PORTFOLIOS PROBLEM BANKS PRODUCERS PROFITABILITY PROGRAMS PRUDENTIAL REQUIREMENTS PUBLIC DEBT REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY REGIMES REINVESTMENT RISK RETIREMENT RETURN ON ASSETS RETURN ON EQUITY RISK DIVERSIFICATION RISK MANAGEMENT SAVINGS SECURITIES SECURITIES TRADING SETTLEMENT SYSTEMS STOCK MARKETS SUBSIDIARIES SYSTEMIC RISK TAX INCENTIVES TAX TREATMENT TECHNICAL ASSISTANCE TIME DEPOSITS UNEMPLOYMENT VENTURE CAPITAL WAGES FINANCIAL SYSTEMS ASSESSMENTS BANK-FUND COOPERATION DIVERSIFICATION SUGAR INDUSTRY TEXTILES COMPETITIVENESS PRICE STRUCTURES PRIVATE SECTOR DEVELOPMENT PUBLIC-PRIVATE PARTNERSHIPS KNOWLEDGE BASED SYSTEMS SERVICES DELIVERY INFORMATION TECHNOLOGY COMMUNICATION TECHNOLOGY EDUCATION SECTOR LABOR DEMAND BANKING SYSTEMS BANK SUPERVISION RISK DIVERSIFICATION GOVERNMENT LIABILITY This Financial Sector Assessment (FSA) is the joint IMF-World Bank work, based on the context of the Financial Sector Assessment Program (FSAP), intended to identify strengths, and vulnerabilities, as well as development needs of the financial sector. The report thus summarizes main findings, and policy recommendations as follows. Mauritius has been remarkably successful in achieving rapid growth, and substantial diversification of a formerly mono-agricultural economy. However, maintaining the past high rates of growth, and employment will pose a major challenge. The trade preferences on which two of the pillars of the economy are founded are being eroded, forcing the sugar and textile industries, to significantly improve their competitiveness, or lose market share to larger, lower-cost producers. In partnership with the private sector, the government is taking decisive measures to build a knowledge economy based on higher value-added services, notably in information and communication technologies. They have also adopted programs to modernize, and improve competitiveness in the sugar and textile industries, and, are investing heavily in education, in order to realign the labor force with the requirements of the new engines of growth. Mauritius has a relatively large and well-developed domestic financial system, and a growing offshore sector, however, the country needs to further diversify its financial sector, namely within the banking system. This includes continuing the strengthening of banking supervision, fostering the development of alternatives to bank lending to reduce portfolio concentrations, and increase competition. Additionally, there is the need to encourage sound international risk diversification, by strengthening provisioning levels, so as to enhance the resilience of the system to a downturn in economic activity, and, by reducing the government's implicit contingent liability in the banking system. 2013-07-01T22:13:11Z 2013-07-01T22:13:11Z 2003-08 http://documents.worldbank.org/curated/en/2003/08/2506938/mauritius-financial-sector-assessment http://hdl.handle.net/10986/14340 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Africa Mauritius |