What we managed to do in 18 Months
30 main accomplishments

		<p>1.The Constitution of Mauritius amended to include the concept of &lsquo;<strong>Unexplained Wealth</strong>&rsquo;;</p>

		<p>2<strong>.&lsquo;Good Governance and Integrity Reporting Act 2015&rsquo;</strong> (&ldquo;GGIR&rdquo;) was enacted;</p>

		<p>3.<strong>&lsquo;Integrity Reporting Agency&rsquo; </strong>set up to recover illicit and unexplained wealth;</p>

		<p>4.<strong>&lsquo;Asset Recovery Unit&rsquo;</strong> structured under the FIU to recover criminal proceeds effectively;</p>

		<p>5.<strong>Good Governance Reviews</strong>: (a) malpractices at <strong>MBC</strong>; (b) <strong>Betamax</strong> &ndash; re: freight procurement contract;&nbsp;<br />
			(c) commissions paid to <strong>Frydu</strong> in Switzerland on sale of duty-free goods; (d) <strong>Air Mauritius</strong> - purchase of six Airbus; (e) malpractices re: <strong>Bagatelle Dam</strong>; (f) irregularities at <strong>Air Mauritius Cargo</strong>; and (g) contracts review at <strong>Open University</strong>;</p>

		<p>6.Enhancing <strong>&lsquo;Governance &amp; Oversight Structures</strong>&rsquo; of para-statal organisations: (a) Positions of &lsquo;Executive Chairman&rsquo; have been abolished; (b) Chairpersons and CEOs have clearly distinct responsibilities; (c) Chairpersons operate in a part-time capacity; and (d) Board membership and Chairperson&rsquo;s fees for para-statals capped under 3 categories;</p>

		<p>7.<strong>Report of the Director of Audit</strong>recommendations reviewed for implementation with defined KPIs and deadlines set by our team;</p>

		<p>8.Concluded <strong>DTAC with South Africa </strong>(pending for 3 years) with certainty for investors;</p>

		<p>9.Finalised <strong>DTAC with India</strong> (after 10 years) with certainty &amp; predictability for investors;</p>

		<p>10.Re-activated the<strong> Financial Services Consultative Council </strong>(&lsquo;FSCC&rsquo;) teaming up policy makers, regulators &amp; operators to share views and strategic issues &ndash; 8 meetings held;</p>

		<p>11.<strong>Financial Services Promotion Agency</strong>(&lsquo;FSPA&rsquo;) set up to promote Mauritius as a transparent International Financial Centre of substance and repute;</p>

		<p>12.<strong>Financial Services Institute</strong>(&lsquo;FSI&rsquo;) set up to curb skills mismatch of young graduates;</p>

		<p>13.&lsquo;<strong>Mauritius International Financial Centre&rsquo;</strong> (&lsquo;MiFC&rsquo;) was officially launched;</p>

		<p>14.Mauritius <strong>removed from blacklist</strong> of 4 countries; and promoted Mauritius IFC in interviews with: <strong>BBC World; Economic Times; Rajya Sabha</strong> TV; <strong>CNBC Africa</strong> etc;</p>

		<p>15.The<strong> Captive Insurance Act 2015</strong> enacted to enhance our financial services offerings;</p>

		<p>16.The <strong>&lsquo;Hit and Run&rsquo; Insurance Compensation Fund</strong> set up to assist victims;</p>

		<p>17.<strong>The Insurance (Amendment) Act 2015</strong> passed to protect <strong>134,000</strong> life insurance policy holders with investments of Rs. 4.5 billion by setting up the <strong>&lsquo;NIC </strong>Ltd&rsquo;;</p>

		<p>18.<strong>National Property Fund Limited</strong>(&lsquo;NPFL&rsquo;) set up to repay the victims of the BAI fraud; <strong>10,211 </strong>out of 16,341 victims (re: 63%) of &lsquo;Super Cash Back Gold&rsquo;; and <strong>1,444 </strong>out of <strong>3,486 </strong>investors of Bramer Asset Management have been repaid in full and final settlement;</p>

		<p>19. &nbsp; &nbsp;<strong>93% of jobs saved</strong> (3,900 employees) in the ex-BAI group, the remaining compensated and/or placed in the &lsquo;workfare programme&rsquo;;</p>

		<p>20.<strong>&lsquo;Surveillance Functions&rsquo;</strong> of Financial Services Commission (&ldquo;FSC&rdquo;) reinforced: enforcement actions increased by 60% from <strong>49</strong> in 2014 to <strong>77</strong> in 2015;</p>

		<p>21.Passed a UN Resolution at the <strong>UNCAC </strong>State Parties Conference in St Petersburg for Mauritius to be the <strong>Anti-Corruption platform for SIDS;</strong></p>

		<p>22.Linked up <strong>Mauritius IFC with the &lsquo;City of London&rsquo;</strong> to promote financial services together and signed an MoU with the Lord Mayor of London;</p>

		<p>23.Hosted the United Nations Convention on Transparency in 2015, which is now known as the &lsquo;<strong>Mauritius Convention on Transparency</strong>&rsquo;;</p>

		<p>24.Hosted the 23rd<strong> International Congress on Commercial Arbitration</strong> with 800 international delegates from 71 countries, including the UN Secretary General Ban-Ki Moon, Nobel Peace Laureate Dr. Mohamed El Baradei, Ministers, Law Lords and Chief Justices;</p>

		<p>25.Set up first hearing centre of the <strong>Permanent Court of Arbitration</strong> outside the Hague;</p>

		<p>26.MoU with <strong>Dubai Multi Commodities Centre </strong>(&lsquo;DMCC&rsquo;) to set up a Commodities and Spot Trading platform in Mauritius;</p>

		<p>27.MoU with <strong>National Stock Exchange of India</strong> to set up &lsquo;Derivatives Trading Platform&rsquo; for Africa linked indices and hedging of African currencies against USD in Mauritius;</p>

		<p>28.Linked up the<strong> &lsquo;Johannesburg Stock Exchange&rsquo;</strong> with SEM for capacity building and to develop &lsquo;Dual Listing&rsquo; and new products;</p>

		<p>29.Linked up the <strong>&lsquo;Dubai Financial Services Authority&rsquo; </strong>(&lsquo;DFSA&rsquo;) and the <strong>&lsquo;Dubai International Financial Centre&rsquo; </strong>(&lsquo;DIFC&rsquo;) with FSC and our Ministry to enhance regulatory framework; compliance; capacity building and new product development;</p>

		<p>30.Negotiated and obtained a &lsquo;Financial Assistance Grant&rsquo; of <strong>MUR. 12,700,000,000 </strong>(USD 353 million) from Government of India for major capital projects, including <strong>Heritage City</strong> and the new <strong>Financial Services City </strong>(MiFC), which will enhance GDP growth.</p>
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