Commercial Court confirms banks’ limited duty of care to third parties
The Commercial Division of the Supreme Court of Mauritius has delivered an important decision in EOS Mascarenes Ltd v Mauritius Commercial Bank Ltd (2025 SCJ 114), clarifying the extent of a bank’s duty of care in processing payments. In particular, the Court considered whether the contractual obligation and duty of care that a bank owes […]
Finance Act 2024: An overview for businesses
The Finance (Miscellaneous Provisions) Act 2024 was gazetted on 27 July 2024. It legislates the measures announced in the Minister of Finance’s Budget Speech 2024-2025. While this summary document does not cover every aspect of the legislation, it aims to highlight the key provisions that affect the business community. This note does not amount to […]
Financial inclusion through fintech: how Mauritius can play an even greater role for Africa
This article was published in Mauritius Finance Magazine, 6th Edition. A PDF copy is available to download here. According to World Bank estimates, around 60% of adults in sub-Saharan Arica are unbanked. Lack of money, distance to the nearest financial institution and insufficient documentation are some of the major hurdles preventing these people from accessing banking services. […]
Finance Act 2023 Briefings
The team at Orison Legal comments on some of the changes brought by the Finance Act (Miscellaneous Provisions) 2023.
Finance Bill 2023 – An overview for businesses
On 07 July 2022, the Cabinet approved the introduction of the Finance (Miscellaneous Provisions) Bill 2023 into the National Assembly. The object of the Bill is to provide for the implementation of the measures announced in the Minister of Finance’s Budget Speech 2023-2024. The Bill will be debated and voted at the National Assembly in […]
Redefining the bond market in Mauritius
This article was published in Mauritius Finance Magazine, 5th Edition. A PDF copy is available to download here. The bond market has rapidly developed over the last decade as an alternative way to raise debt. The Mauritian legislation therefore also evolved to meet the changing needs of industry players. The rapidly evolving regulatory landscape The regulatory framework […]
Finance Bill 2022 – An overview for businesses
On 22 July 2022, the Cabinet approved the introduction of the Finance (Miscellaneous Provisions) Bill 2022 into the National Assembly. The object of the Bill is to provide for the implementation of the measures announced in the Minister of Finance’s Budget Speech 2022-2023. The Bill will be debated and voted at the National Assembly in […]
FSC Guidelines for Issue of Corporate and Green Bonds in Mauritius
[Updated as at April 2022] In the 2020/2021 budget, the Minister of Finance, Economic Planning and Development announced that the Bank of Mauritius (“BOM”) would come up with a framework for blue and green bonds. A technical committee was set up, comprising of representatives of the BOM, Ministry of Financial Services and Good Governance, the […]
Virtual Asset and Initial Token Offering Act 2021
The Virtual Asset and Initial Token Offering Services Act 2021 (the “Act”), passed by the National Assembly on 10 December 2021 and gazetted on 16 December 2021, empowers the Financial Services Commission (the “FSC”) to regulate and supervise virtual asset service providers (“VASPs”) and issuers of initial token offerings (issuers of “ITOs”), and enhance the […]
Orison Legal advises CIM Finance on its strategic investment in Fundkiss
CIM Financial Services Ltd (“CIM Finance”), a leading Mauritian consumer and SME finance company, makes a strategic investment in Fundkiss, a peer-to-peer lending platform for local SMEs. CIM Finance will also become an institutional investor on Fundkiss’s platform. We were pleased to act for CIM Finance on this transaction. Read more here: https://blog.cimfinance.mu/collaborations/item/cim-financial-services-ltd-makes-a-strategic-investment-in-fundkiss-technologies-limited