The Fintech hub has positioned itself as a fast-growing sector in Mauritius, and with more and more Fintech entrepreneurs looking to test their services on the market, there is a need to provide them with a sound regulatory framework to operate.

The recent Innovation Functions Co-operation Agreement (the “Agreement") signed between the Financial Services Commission (FSC) and members of the Canadian Securities Administrator (CSA) includes a referral mechanism for innovative businesses, and enhances and clearly defines information sharing between these jurisdictions.

In addition to having signed bilateral Memorandum of Understandings (MOUs) on Fintech with regulatory counterparts in several key jurisdictions including France, Mauritius joined the Global Financial Innovation Network. These MOUs together with the Agreement provide Mauritius with a framework which will enable Fintech entrepreneurs to thrive in terms of cross-border innovation from Mauritius to other continents.

Read the full communique from the FSC here