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

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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

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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

Orison Legal advises on the acquisition of Banyan Tree Bank

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Banyan Tree Bank was placed under conservatorship in April 2020. It has recently been acquired and has since rebranded as Silver Bank. We were pleased to act for the acquirer on this transaction. Read more here – https://www.bom.mu/media/media-releases/public-notice-banking-licence-0

Using the FSC Settlement Framework to Lower Regulatory Sanctions

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Mauritius has garnered attention since it was placed on the list of “Jurisdictions under Increased Monitoring” by the FATF in March 2020. Since then, the international business community has exercised more caution concerning FDI in the jurisdiction, which has had some adverse impact on the economy. The Government and regulatory authorities have bolstered their efforts […]

Finance Bill 2021 – Summary for Businesses

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The objective of the Finance Bill is to provide for the implementation of measures announced in the Budget Speech 2021-2022. This note summarises its key proposals, which will be debated and voted at the National Assembly in the coming weeks. It aims to provide a basic understanding of the proposed measures that are relevant to […]