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Composition of the Monetary Policy Committee

Mr R Basant Roi, G.C.S.K.

Mr Rameswurlall Basant Roi, G.C.S.K., was appointed Governor of the Bank of Mauritius with effect from 30 December 2014. Governor Basant Roi, G.C.S.K., is the Chairman of the Board of Directors of the Bank and also chairs the Monetary Policy Committee.

Prior to his appointment, he had served as Governor for eight years, from November 1998 to December 2006.  In 2004, he was awarded the highest distinction of the Republic of Mauritius – Grand Commander of the Star and Key of the Indian Ocean – for his contribution to the financial services industry of the country.

In January 2017, Governor Basant Roi, G.C.S.K., was elected 2017 Central Bank Governor of the Year for Africa by The Banker of the Financial Times Group. In February 2017, the UK-based African Leadership Magazine awarded Governor Basant Roi, G.C.S.K., the Personality of the Year Award 2016 (Finance). In May 2017, the African Banker magazine conferred upon Governor Basant Roi, G.C.S.K., the Central Bank Governor of the Year Award 2017, endorsed by the African Development Bank Group.

In August 2017, Mr Rameswurlall Basant Roi, G.C.S.K., became a member of the Bretton Woods Committee.  He has accepted the invitation extended to him by the Chair and Co-Chairs of the International Council to join this international network of business, finance, academic leaders and thinkers who explore current issues in global finance, development and trade, and work to demonstrate the value of international economic cooperation for global well-being.

Governor Basant Roi is a Council Member of the Islamic Financial Services Board and is a Governing Board Member of the International Islamic Liquidity Management Corporation (IILM), of which the Bank of Mauritius is a founding member. Since December 2016, Governor Basant Roi, G.C.S.K., is serving as Deputy Chairman of the Governing Board of the IILM. Mr Basant Roi is also the current Chairman of the Eastern Africa sub-region Committee of Central Bank Governors of the Association of African Central Banks.

The career of Governor Basant Roi as a central banker has spanned over a period of three decades. After completing a Masters in Economics with specialisation in monetary and international economics at the Delhi School of Economics, University of Delhi, India, he joined the Research Department of Bank of Mauritius as Research Officer in 1976. He was appointed Assistant Director-Research in 1984 and was subsequently appointed Director Research in 1987.

During his career at the Bank of Mauritius, Mr Rameswurlall Basant Roi has written several papers including one co-authored with late Professor Maxwell Fry in 1994 entitled Monetary Policy Making in Mauritius. He has been very closely involved with the establishment of the offshore banking sector as well as with the process of liberalising and promoting the development of the financial system in Mauritius which started in the late 1980s. In addition, his involvement with international organisations as well as with players from various sectors of the domestic economy throughout his career has earned him enriching and wide-ranging experiences.

Mr Y Googoolye

Mr Yandraduth Googoolye is the First Deputy Governor of the Bank of Mauritius since July 2006. He is a member of the Board of Directors and of the Monetary Policy Committee of the Bank of Mauritius. He joined the Bank in 1985. He is a Fellow of the Chartered Association of Certified Accountants, UK, and a Fellow of the Association of International Accountants. He is a Council Member on the Financial Reporting Council of Mauritius.

Mr M V Punchoo

Mr Mahendra Vikramdass Punchoo was appointed Second Deputy Governor of the Bank of Mauritius with effect from 30 December 2014. He is a member of the Board of Directors and of the Monetary Policy Committee of the Bank of Mauritius. He joined the Bank in 1989 as a Research Officer in the Research Department. Mr Punchoo holds a Maitrise en Sciences Economiques from Université Aix Marseille III, France, and an MSc in Economics from Birkbeck College, University of London.

Mr G Wong So

Mr Guy Wong So joined the Ministry of Economic Planning and Development in December 1971 as economist and, in September 2006, was appointed Director General of the Ministry. He spent 34 years at the Ministry of Economic Planning and Development. He has been a member of the boards of directors of a large number of parastatal bodies in Mauritius. In March 2009, he was appointed as one of the three full-time members of the Public Bodies Appeal Tribunal. In March 2015, he was appointed member of the MPC.

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.

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 P Dinan, CSK, G.O.S.K

Mr Pierre Dinan, CSK, G.O.S.K, was a senior partner at De Chazal du Mee (DCDM) for 20 years until he retired in June 2004. He is currently a Company Director for a number of public companies in the manufacturing and financial services sectors. He is a graduate in Economics from the London School of Economics and Political Science, and a Fellow of the Institute of Chartered Accountants in England and Wales. He was the founder Chairman of the Mauritius Institute of Directors. He is an independent member of the Monetary Policy Committee since 2007. He has authored three books on the economy of Mauritius.

Dr Renganaden Padayachy

Dr Renganaden Padayachy was appointed on the Board of Directors of the Bank of Mauritius in March 2015. He is presently Manager, Economic Analysis and Industry Division at the Mauritius Chamber of Commerce and Industry. Prior to his present assignment, he was employed as Economist at the Mauritius Employers’ Federation.

Dr Padayachy is a member of the COMESA and SADC Industrial Development Committees. Dr Padayachy holds a Ph.D. in Economics and a Master in Public Economics from the University of Paris I Panthéon-Sorbonne. He also holds a Master in Industrial Economics from the University of Franche-Comté.

Dr Padayachy was appointed Member of the Monetary Policy Committee on 5 September 2017.