GFCI 33: Mauritius gains 11 places
In the 33rd edition of the Global Financial Centre Index (GFCI 33) published on 23 March 2023, Mauritius gained 11 places in its ranking, positioning itself at the 81st position (2022: 92nd). On the African continent, Mauritius occupies the 8th position.
This instills a renewed sense of confidence in the Mauritius International Financial Centre, which we recall went through tumultuous times when it was greylisted by the Financial Action Task Force (FATF) and subsequently blacklisted by the European Union. Now that Mauritius has been cleared off both lists, following various amendments made to its regulatory and AML/CFT framework in a bid to address the deficiencies identified by the FATF, the country is poised to regain its attractiveness as a jurisdiction of choice and substance for international investors. In addition, the country continues to innovate and has introduced the Variable Capital Companies and several licenses for various types of Virtual Assets service providers under the Virtual Assets Initial Token Offering Services Act in 2022 to cement its offering to international investors.
THE GFCI 33 assesses the competitiveness of International Financial Centres based on 5 broad areas namely: Business Environment, Human Capital, Infrastructure, Financial Sector Development and Reputation. The GFCI was first published in 2007 and is a joint publication of Z/Yen and the China Development Institute.
For more information about the GFCI 33, you may access the full report by clicking HERE
If you would like to know more about the Mauritius IFC, please do not hesitate to get in touch with our Business Development team (bd@mitcoworld.com)