Government committed to remove Mauritius from EC blacklist and FATF monitoring list, states Minister Seeruttun
June 15, 2020
Domain:Economy & Finance
Business; Citizen; Government; Non-Citizen
GIS - 15 June, 2020: The objective remains to address the deficiencies pointed out by the Financial Action Task Force (FATF) and five sub-committees have been set up to ensure that Mauritius complies with the five issues raised. There will be another FATF assessment in late August/early September and Government will work progressively in order to remove Mauritius from the European Commission (EC) blacklist and the FATF monitoring list.
This statement was made by the Minister of Financial Services and Good Governance, Mr. Mahen Kumar Seeruttun, during his intervention on the budget debates on June 12, 2020 in the National Assembly.
Mr. Seeruttun emphasised that Government has taken several initiatives following the inclusion of Mauritius on the FATF list and the EC's list of high-risk countries. He underlined the commitment of the Prime Minister, Mr Pravind Kumar Jugnauth, who has communicated with international institutions to inform them that Mauritius was never consulted before being included on this list and this is detrimental to the economy of the country, especially against the backdrop of the Covid-19 pandemic.
Government, he underlined, is engaged with the European Union (EU) as well as with all Member States to get out of this situation while adding that collective effort at the national level is important. The restoration of Mauritius as a reputable financial centre was also raised by Mr Seeruttun.
The Minister further referred to Hungary, one of the countries of the EU, which has asked for the list to be revised and has requested that the EU evaluates the progress made by these countries before officially putting them on the list on the 1st of October 2020.
Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: firstname.lastname@example.org Website: http://gis.govmu.org Mobile App: Search Gov