The memorandum of understanding (MoU) between three bodies in Mauritius, including the Financial Services Commission (FSC), and the National Stock Exchange of India (NSE) aims to create channels for sharing information between the two jurisdictions.
Mauritus financial services minister Sudarshan Bhadain, who was present at the signing, said he hopes the agreement with the NSE to enable the FSC to enhance surveillance methods.
The MoU is also expected to increase collaboration in technology and education between the two regions.
“By signing the MoU, the FSC Mauritius adheres to its developmental role of deepening opportunities in the capital markets sector, while simultaneously delivering on its regulatory objectives to preserve the good repute of the Mauritius jurisdiction,” said FSC chief executive P.K Kuriachen.
Paving the way
The three Mauritius bodies include the Ministry of Financial Services, the Stock Exchange of Mauritius, and the FSC.
Under the agreement, a working group will be established between the FSC and the NSE to establish the areas of cooperation between the institutions.
Chitra Ramkrishna, managing director of the NSE, said signing the MoU with the three pillars of the Mauritian financial system would pave the way for product development in both the local and regional markets.
The MoU was signed on 3 September.
