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Communiqué: Change Express Ltd

15 July 2008, Bank of Mauritius

The Bank today called the members of the Board of Directors of Change Express Ltd, a money-changer licensed by the Bank of Mauritius under section 13 of the Banking Act 2004, for consultation in the light of serious shortcomings observed in its systems, procedures and operations, during the course of an on-site examination carried out by the Bank.

Change Express Ltd has been given one week to provide the Bank with satisfactory explanations on those shortcomings.

The Bank will, in the light of the explanations received from Change Express Ltd, take such action as it may deem appropriate under law.