Mauritius on the EU Black List, what impact since October 1st, 2020?
DTOS News Desk: Have bankers seen any reduction in the investment flows in, and out of, Mauritius since 1st Oct? If yes, was this linked to our inclusion on the EU Black List?
Yogesh Gokool, Senior Executive - Head Global Business at AfrAsia Bank: I think it might be untimely to gauge the impact of the EU blacklisting on the investment flows, or flow of capital, through the Mauritius jurisdiction. The Country has been officially placed on this blacklist for only about two months now and so far, banks in general have not faced major operational issues. While I certainly cannot speak on behalf of all the banks operating from the jurisdiction, I can say, from AfrAsia Bank’s perspective and, relying on information gathered at industry level, that the banking sector has faced only minimal disruption, or no disruption of significant concern, at least up to now. Bearing in mind that the potential blacklisting of the financial centre was announced as far back as 7 May 2020.Read more