Advanced Search

The Mauritius Deposit Insurance Scheme Act

The Mauritius Deposit Insurance Scheme Act provides for the establishment of the Mauritius Deposit Insurance Scheme which shall be administered and managed by the Mauritius Deposit Insurance Corporation Ltd, a company incorporated and registered under the Companies Act.  
 
The purpose of the Mauritius Deposit Insurance Scheme is to –
            (a)       protect insured depositors of a bank or non-bank deposit taking institution by providing insurance against the loss of insured deposits; and
            (b)       contribute to the stability of the financial system in Mauritius by ensuring that depositors have prompt access to their insured deposits, in the event of failure by a bank or non-bank deposit taking institution.
 
The Mauritius Deposit Insurance Scheme Act has, however, not yet been proclaimed.