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Composition of the Monetary Policy Committee

Mr Harvesh Kumar Seegolam - Governor and Chairperson
Mr Harvesh Kumar Seegolam was appointed as Governor of the Bank of Mauritius with effect from the 1st of March 2020 by His Excellency Prithvirajsingh Roopun, G.C.S.K., President of the Republic, in accordance with Section 13 of the Bank of Mauritius Act 2004, and upon the recommendation of the Prime Minister.
 
Prior to his appointment as Governor of the Bank of Mauritius, Mr Seegolam was the Chief Executive of the Financial Services Commission (FSC) since July 2017.
 
In his previous position, Mr Seegolam spearheaded numerous national initiatives with respect to the development and regulation of Financial Services. He has equally been instrumental in delivering on the national strategy with respect to the 10-year Blue Print for the financial services sector.
 
Driving a culture of innovation throughout the industry, Mr Seegolam has been at the forefront of the establishment of the National Regulatory Sandbox Licence Committee in 2018, and is a member of the Mauritius Artificial Intelligence Council.
 
Over the last years, Mr Seegolam has been a key contributor and a member of various technical committees at the level of the Organisation for Economic Cooperation and Development (OECD). He has driven the setting up of the FSC Regional Centre of Excellence – an initiative launched in collaboration with the OECD, aiming at furthering capacity building and research in the fields of financial services, competition and digital finance in Sub Saharan Africa for regulatory bodies and law enforcement agencies.
 
Prior to joining the FSC, Mr Seegolam launched and ran the Financial Services Promotion Agency with the mandate of promoting Mauritius as an International Financial Centre. Mr Seegolam has equally been part of the strategic team leading the Board of Investment of Mauritius, now the Economic Development Board, where he was in charge of the Innovation, Technology and Services cluster.
 
Governor Seegolam holds a BSc (Hon) in Economics and an MSc in International Finance, in addition to several other qualifications in accountancy and finance. He is an alumnus of the London School of Economics & Political Science, the University College London, Durham University, as well as, the SKEMA ‘Grande Ecole de Commerce’ in France.

 

Mr Mardayah Kona Yerukunondu - First Deputy Governor
Mr Madayah Kona Yerukunondu was appointed, with effect from the 24th of February 2020, First Deputy Governor of the Bank of Mauritius by His Excellency the President of the Republic upon the recommendation of the Prime Minister.
Prior to his appointment as First Deputy Governor, Mr Yerukunondu was, as from the 1st of March 2019, the country’s first Ombudsperson for Financial Services.
 
Mr Yerukunondu is a seasoned central banker. He joined the Bank of Mauritius in 1977 and acquired expertise in critical areas ranging from central bank administration, supervision, regulation, policy and compliance. Across his career at the Bank as a Member of the Senior Management Committee, Mr Yerukunondu has filled several key positions including that of Assistant Director-Legal, Director of Change Management and Legal Section and Assistant Secretary of the Bank before his appointment as Ombudsperson for Financial Services.
 
Mr Mardayah Kona Yerukunondu has played a pivotal role in the modernization of the country’s banking and financial services framework. He has extensively contributed in the drafting of the Bank of Mauritius Act 2004 and the Banking Act. He has equally participated in the principles underlying the Ombudsperson for Financial Services Act and its drafting.
 
Mr Yerukunondu has been an ardent defender of the image and repute of the Mauritian jurisdiction. He has played a key role as official delegate in several country missions focusing on anti-money laundering and combating the financing of terrorism. Mr Yerukunondu has also formed part of national delegations of the ESAAMLG Task Force of Senior Officials.
 
Mr Yerukunondu has been a speaker in high-level fora including the International Monetary Fund, the Bank for International Settlements, the World Bank Treasury, the European Monetary Union, the Islamic Financial Services Board Summit, RAMP, and in geographies ranging from Europe, America, Asia and Africa.
 
It is to be noted that Mr Yerukunondu was the Chairperson of the Steering Committee set up by Government to study the social and legal aspects of Islamic Financial Services. He was equally the Chairperson of the Committee set up by the Bank of Mauritius which saw the implementation of the Credit Information Bureau in Mauritius.
 
The First Deputy Governor is a sworn barrister. He holds a LLB (Honours) from the University of London as well as qualifications from the Institute of Statisticians. He has written academic papers, namely an article on Islamic Finance published in March 2010 in the chronicle of the Bar Council and a manual on Banking for the Open University.

 

Mrs Hemlata Sadhna Sewraj-Gopal - Second Deputy Governor
Mrs Hemlata Sadhna Sewraj-Gopal was appointed, with effect from the 1st of March 2020, Second Deputy Governor of the Bank of Mauritius by His Excellency the President of the Republic upon the recommendation of the Prime Minister.
 
Mrs Sewraj-Gopal joined the Bank of Mauritius in 2003. Prior to her appointment as Second Deputy Governor, Mrs Sewraj-Gopal was the Secretary to the Bank of Mauritius. In that capacity, she also acted as Secretary to the Board, Secretary to the Audit Committee, Member of the Investment Committee and Chairperson of the Tender Committee. In the course of her career, Mrs Sewraj-Gopal has overseen several key departments including Human Resources, Procurement as well as Accounting and Budgeting.  
 
Prior to joining the Bank of Mauritius, Mrs Sewraj-Gopal was Director- Corporate services at the Board of Investment (2001-2003), Financial Controller at the Mauritius Export Development and Investment Authority (1997-2001) and Manager at KPMG Mauritius (1993-1997). Mrs Sewraj-Gopal also worked for three years in London at Arthur Andersen.
 
A State Scholar, the Second Deputy Governor holds a Bachelor in Economics and Social Studies (Honours) from the University of Manchester. Mrs Sewraj-Gopal is also a Chartered Accountant from the Institute of Chartered accountants of England and Wales (ICAEW).
Professor Sanjeev K Sobhee

Professor Sanjeev K Sobhee is currently Professor of Economics at the University of Mauritius where he is also the Pro-Vice-Chancellor (Academia). His teaching experience at undergraduate and postgraduate levels goes over two decades essentially in Advanced Macroeconomics, Quantitative Techniques and Public Policy. In addition, he has been actively involved in applied research areas, but not limited to, macroeconomics, public finance and sustainable development. Besides publishing in internationally refereed academic journals, Professor Sobhee has consulted for different international institutions; namely, The World Bank, United Nations Development Programme (UNDP) and United Nations Environment Programme (UNEP), amongst others.

Mr Lim Chang Kwong Lam Thuon Mine
Dr S Narrainen

Dr Streevarsen Narrainen is a Senior Economic Adviser at the Ministry of Finance and Economic Development (MOFED), from 2003 to date. He was a Senior Economic Adviser to the Prime Minister of Mauritius between 1996 and 2000 and an Economic Adviser at MOFED between 1989 and 1996. Prior to 1989, he was Assistant Professor of Economics at the University of Winnipeg and at the University of Manitoba in Canada. He holds a PhD in Economics from McGill University, Montreal, Canada, and specialised in Monetary Theory and Policy. He is a member of the MPC since March 2015.

Mr M M Namdarkhan

Mr Mushtaq Namdarkhan is a barrister and Senior Associate at BLC Chambers, a leading Mauritian legal practice. He specialises in corporate restructuring and insolvency, banking and finance and commercial dispute resolution. He spent time in the Equity Capital Markets, Restructuring and Insolvency, Construction Litigation and Tax groups of that firm. He holds an MA (Hons.) in Law and an LL.M (Commercial), both from the University of Cambridge. He is a member of the MPC since March 2015.

Mrs Christine Marie Isabelle Sauzier