HSBC Treasury Management Profiles 2018 -

Current section, Introduction


An Indian Ocean archipelago, Mauritius has one of the highest standards of living in Africa (GDP PPP USD19,548 in 2016). Since gaining independence from the UK in 1968, Mauritius has successfully developed from a low-income economy based on sugar production into a middle-income diversified economy based on tourism, textiles, sugar and financial services. Mauritius is recognised as being a model of stability and economic prosperity in the region; the economy grew 3.7 per cent in 2016 and is forecast to grow 3.9 per cent in 2017. These qualities, in addition to a stable financial system and a highly skilled workforce, have historically attracted strong foreign direct investment (FDI) inflows; FDI increased 41 per cent in 2016 year-on-year, to MUR13.6 billion. Real estate (especially associated with the tourism sector) and financial services are the main recipients of FDI. The island, which markets itself as a bridge between Africa and Asia, is trying to shift its economy towards information and communications technology, the seafood and marine industry, and the biomedical services sector. It also aims to position itself as a regional Fintech hub with its corresponding benefits for the financial services and technology industries.

To read the detailed report, please click on the Download PDF option

Legal and regulatory

  • Foreign exchange accounts can be held by residents both domestically and abroad
  • Non-resident bank accounts are permitted in both foreign and domestic currency
  • Mauritius is a member of the COMESA regional trade zone. A Regional Payment and Settlement System (REPSS) facilitates cross-border payments and settlement between central banks in the COMESA area. REPSS processes payments in EUR or USD
  • Mauritius does not apply exchange controls. Resident and non-resident domestic currency (MUR) accounts are freely convertible

To read the detailed report, please click on the Download PDF option


  • Resident companies are taxed on their worldwide income
  • Non-resident companies are taxed on Mauritian-sourced income only
  • The standard rate of corporation tax is 15 per cent

To read the detailed report, please click on the Download PDF option

Payment instruments and systems

  • Although cheque use is in decline, the cheque remains an important payment instrument in Mauritius, for both retail and commercial payments. Electronic credit transfers are used by companies for salary and supplier payments. Payment card use is rising, increasing 4.4 per cent and 7.1 per cent in volume and value respectively in 2016. A National Payment Switch is being implemented for all card and mobile-based payments
  • Mauritius operates two national payment systems: MACSS, an RTGS system, and the BCS, for low-value electronic payments

To read the detailed report, please click on the Download PDF option below

Cash management

  • Notional pooling and cash concentration are not available. Cross-border cash management is permitted
  • A range of collection services are available, ranging from courier pick-up services and lockbox solutions to electronic collection services

To read the detailed report, please click on the Download PDF option

Electronic banking

  • Fifteen banks provide electronic banking services in Mauritius. There is no bank-independent electronic banking standard
  • Internet and mobile banking services are provided by all of the country’s banks for both corporate and retail purposes. Internet banking transactions rose 9.6 per cent and 7.4 per cent in volume and value respectively in 2016 year-on-year. There were an estimated 925,848 mobile banking users

To read the detailed report, please click on the Download PDF option



To read the full report on Mauritius and to discover more on these and other topics, including banking and trade, please click on the Download PDF option.


  • International Financial Statistics, IMF
  • World Trade Organisation
  • Statistics Mauritius
  • Bank of Mauritius

The materials contained on this page were assembled in June 2017 (unless otherwise dated).



This document has been produced by HSBC Bank plc and members of the HSBC Group (“HSBC”), together with their third-party contributor, WWCP Limited. We make no representations, warranties or guarantees (express or implied) that the information in this document is complete, accurate or up to date. We will not be liable for any liabilities arising under or in connection with the use of, or any reliance on, this document or the information contained within it. It is not intended as an offer or solicitation for business to anyone in any jurisdiction. The information contained in this document is of a general nature only. It is not meant to be comprehensive and does not constitute financial, legal, tax or other professional advice. You should not act upon the information contained in this document without obtaining your own independent professional advice. The information contained in this document has not been independently verified by HSBC.

This document contains information relating to third parties. The information does not constitute any form of endorsement by these third parties of the products and/or services provided by HSBC or any form of cooperation between HSBC and the respective third parties.

Under no circumstances will HSBC or the third-party contributor be liable for (i) the accuracy or sufficiency of this document or of any information, statement, assumption or projection contained in this document or any other written or oral information provided in connection with the same, or (ii) any loss or damage (whether direct, indirect, consequential or other) arising out of reliance upon this document and the information contained within it.

HSBC and the third-party contributor do not undertake, and are under no obligation, to provide any additional information, to update this document, to correct any inaccuracies or to remedy any errors or omissions.

No part of this document may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of HSBC and the third-party contributor. Any products or services to be provided by HSBC in connection with the information contained in this document shall be subject to the terms of separate legally binding documentation and nothing in this document constitutes an offer to provide any products or services.