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.
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