In the year 1838, Mauritius saw the establishment of first commercial bank. The banking history of Mauritius is pretty long. Wide ranges of banking services are available at Mauritius. The range of services offered by the
Mauritius banks includes both non-banking and banking services. There are also some commercial Mauritius banks that provide various facilities to the customers. The country also homes some offshore banks.
In the banks of Mauritius, tourists can change international currency. Some of the banks charge fee to process the cash that is being withdrawn from the ATMs. Some of the banks in Mauritius are:
- Bank of Mauritius
- The Mauritius Commercial Bank Ltd
- Deutsche Bank ( Mauritius) Ltd
- SBI International ( Mauritius) Ltd
- African Asian Bank Limited
- New Co-operative Limited
- Investec Bank( Mauritius) Ltd
- The Hongkong and Shanghai Banking Corporation Ltd.
- PT Bank International Indonesia Tbk
- South East Asian Bank Ltd
- Banque des Mascareignes
- Development Bank of Mauritius Ltd
- Standard Bank ( Mauritius) Offshore banking Unit
- Standard Chartered bank( Mauritius) Limited
- Mascareignes International Bank Ltd
- Indian Ocean International Bank Ltd
- Habib bank Ltd
- Bank of Baroda
- First City Bank Ltd
- Sasfin Bank International ( SBI)
- Banque Nationale de Paris Intercontinentale
- Barclays bank PLC
- State Bank of Mauritius Ltd
- RMB ( Mauritius) Limited
The non banking financial services that are available at the banks of Mauritius are as follows:
- Asset management
- Stock broking services
- Secretarial services
- Corporate finance
- Fiduciary services
- Advisory services
The financial banking services offered by the banks in Mauritius are as follows:
- Electronic banking systems
- Automatic overdraft facilities
- International credit cards
- Medium and long term loans
- Savings accounts with cheques
- Computerized cashier system
- Direct debit cards
- Automatic teller machines
- Sale and purchase of foreign currencies
- Equity financing facilities
The Central Bank of Mauritius is the Bank of Mauritius. The Bank of Mauritius is dedicated at encouraging and upholding financial and economic steadiness as its input to a vigorous financial system. The Bank of Mauritius is devoted in increasing consciousness and understanding of its actions and duties, to both general and professional public in a similar way. Some of the operations of the bank of Mauritius (BOM) are:
- Issuing Treasury Bills and Bank of Mauritius Bills
- Determination of the bank rate weekly based on the most recent overall weighted auction yield rate of Treasury Bills
- Supervising and regulating the commercial banks
- Management of public debt
The Development Bank of Mauritius Ltd in Mauritius offers extensive term economics to companies that are concerned in tourism, industry and other monetary divisions. There is also a group of profitable banks, which supply a variety of services in the fiscal sector.
