12 February 2018

Mauritius: Members of House of Lords of UK Meet Prime Minister

press release

Lord Meghnad Desai and Lord St John of Bletso of the House of Lords of UK met the Prime Minister, Minister of Home Affairs, External Communications and National Development Unit and Minister of Finance and Economic Development, Mr Pravind Kumar Jugnauth, on Friday 09 February at the New Treasury Building in Port Louis.

In a statement Lord St John of Bletso underlined that his meeting with Prime Minister Jugnauth was friendly and fruitful and discussions focused mostly on advantages that digital transformation can bring in its wake such as employment opportunities. Digital skills, technology and Blockchain were also among the other topics discussed, he pointed out.

For his part, Lord Meghnad Desai highlighted that the main issues discussed with Prime Minister Jugnauth revolved around how he can assist in paving the way for appropriate regulatory frameworks for encouraging and supporting the development of Fintech in Mauritius.

He emphasised that Mauritius should bank on its international goodwill to transform itself into a regional technology hub and invest in its human capital to pave the way forward to adapt itself for the benefit of its financial sector.

Lord Desai pointed out that the main purpose of their visit is to assess the current regulatory set up with respect to Fintech and Innovation-driven Financial Services Regulations in Mauritius and make recommendations on the need to introduce new sets of regulations for Fintech and lnnovation as well as to identify priority areas within the regulatory space of Fintech activities.

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