The Bank of Mauritius (BoM) has, once again this year, been conferred the ‘Best Central Bank Governance – Indian Ocean’ award by the London- based Capital Finance International (CFI) magazine.

The award, which covers the whole of the Indian Ocean region, was conferred following a critical assessment based on media analysis, corporate leadership, academia and extensive data collected by the CFI’s own research team. The key criteria for the award process include management approaches, transparency and innovation.

The judging panel congratulated the BoM on the fact that “the Bank has taken a hard stance on governance policies, adopting best international prudential standards and exacting monitoring procedures paired with innovative solutions to ensure its regulatees are adequately capitalized with sufficient liquidity buffers."

The panel also commended on the fact that ninety percent of the capital base of commercial banks is in the form of Common Equity Tier 1 capital is a testimony to the BoM’s endeavor to adhere to international best practices. It highlighted the fact that the BoM is currently implementing a stringent risk-based supervisory framework for more efficient, effective and forward-looking outcomes. The panel also commended the BoM in its stance regarding monetary policy, citing that the BoM had reviewed its framework to optimize the transmission of monetary policy.