The Financial Services (Peer to Peer Lending) Rules 2020
The Financial Services Commission, Mauritius (‘FSC’) has recently issued the Peer to Peer Lending rules (the ‘P2P Lending Rules’) which came into force on 15th of August 2020 with the objective of fostering innovation and furthering access to finance in Mauritius.
What is Peer to Peer Lending (P2P lending)?
The P2P lending is an emerging fintech practice which enables a person to lend funds through an online portal or electronic platform which facilitates the offering, execution or issuance of funds between prospective lenders and borrowers without having to rely on a conventional financial institution to control transactions.
The objective of the P2P Rules:
The aim of the P2P Rules is to establish a sound and conducive automated environment or platform for the offer and execution of alternative peer to peer lending, other than bank lending, for the benefits of borrowers and stakeholders in the non-banking sector of Mauritius.
Contact details:
For more information on P2P lending, please contact your relationship manager at MITCO Group or the business development team on bd@mitcoworld.com or phone them on +230 404 8000.