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| Headquarters | Port Louis,Mauritius |
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| Established | 1967; 58 years ago (1967) |
| Ownership | 100%state ownership[1] |
| Governor | Priscilla Muthoora Thakoor |
| Central bank of | Mauritius |
| Currency | Mauritian rupee MUR (ISO 4217) |
| Reserves | 7,910.1 million USD (2022) |
| Website | bom.mu |
TheBank of Mauritius (French:Banque de Maurice) is thecentral bank of theRepublic of Mauritius. It was established in September 1967 as the central bank of Mauritius. It was modelled on theBank of England and was, in effect, set up with the assistance of senior officers of the Bank of England.
Amongst its responsibilities is the issuance of the Mauritian currency, theMauritian rupee.
In the 19th Century three separate commercial banks, now all defunct, operated under the Bank of Mauritius name.[citation needed]
The first Bank of Mauritius started operations in 1813 or so, but survived only until 1825.[citation needed]
The second Bank of Mauritius was a British overseas bank with two boards of directors, one inLondon and the other inPort Louis. It began operations in 1832 and favored the interests of the planter class. In 1838 traders establishedMauritius Commercial Bank to give themselves an alternative source of credit as until its establishment the Bank of Mauritius had a monopoly on the island. The financial crisis of 1847 in London resulted in the collapse of the sugar market, and severe losses to both of Mauritius's banks. Bank of Mauritius ceased business in 1848, though theMauritius Commercial Bank has survived to the present.[citation needed]
Local interests established the third Bank of Mauritius in 1894 to take over the local business of the failedNew Oriental Bank Corporation. In 1911 the bank opened a branch in the Seychelles. However, in 1916 theMercantile Bank of India (est. 1893) acquired the bank.HSBC in turn acquired the Mercantile Bank in 1959. Because of this history, HSBC refers to itself as the oldest foreign bank in Mauritius. The next foreign bank to arrive, and to survive to the present, wasNational Bank of South Africa, an ancestor ofAbsa Bank Mauritius Limited formerlyBarclays Bank Mauritius.[citation needed]
In addition to the above three banks, a bank by the name of the Colonial Bank of Mauritius, Bourbon, and Dependencies, operated between 1812 and 1813.[citation needed]
TheBoard of Commissioners of Currency of Mauritius was established on 1 September 1849, setting a template that would be emulated by numerous othercurrency boards in theBritish Empire and beyond.[2]: 174 The duties of the Board were restricted to those of an issuing authority.
The setting up of the Bank of Mauritius in 1967 marked the beginning of a new phase in the monetary history of Mauritius, with the monetary system moving forward from the currency board regime of Sterling Exchange Standard to a 'managed currency' in which the discretionary role of the monetary authority becomes important.
The Bank of Mauritius Act 1966 (as amended) lays down the purposes of the Bank which are to 'safeguard the internal and external value of the currency of Mauritius and its internal convertibility' and to 'direct its policy towards achieving monetary conditions conducive to strengthening the economic activity and prosperity of Mauritius.'
The Bank has been set up as the authority which is responsible for the formulation and execution of monetary policy consistent with stable price conditions. It also has responsibility for safeguarding the stability and strengthening of the financial system of Mauritius.
| Governor | Term of office | Ref. | ||
|---|---|---|---|---|
| Took office | Left office | |||
| 1 | Aunauth Beejadhur | July 1967 | December 1972 | [3] |
| 2 | Goorpersad Bunwaree | January 1973 | May 1982 | [4] |
| 3 | Indur Ramphul | June 1982 | March 1996 | [5] |
| 4 | Dan Maraye | April 1996 | November 1998 | [6] |
| 5 | Ramesh Basant Roi | November 1998 | 31 December 2006 | [7][8] |
| – | Yandraduth Googoolye [no] | 1 January 2007 | 13 February 2007 | [9] |
| 6 | Rundheersing Bheenick [no] | 15 February 2007 | 15 February 2010 | [10][11] |
| – | Yandraduth Googoolye [no] | 16 February 2010 | 20 May 2010 | [12] |
| (6) | Rundheersing Bheenick [no] | 21 May 2010 | December 2014 | [13] |
| (5) | Ramesh Basant Roi | 30 December 2014 | 15 January 2018 | [14] |
| 7 | Yandraduth Googoolye [no] | 15 January 2018 | February 2020 | [15] |
| 8 | Harvesh Seegolam | 1 March 2020 | 15 November 2024 | [16] |
| 9 | Rama Sithanen | 16 November 2024 | 29 September 2025 | [17] |
| 10 | Priscilla Muthoora Thakoor | 29 September 2025 | Incumbent | [18] |
On 12 March 2008, the Bank of Mauritius launched the online sales of commemorative coins and Dodo Gold Coins to international buyers.[19]
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