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News Release: Board of Directors and Monetary Policy Committee

20 September 2007  , Bank of Mauritius
The Bank hereby announces that the Board of Directors of the Bank of Mauritius has been re-constituted as follows: 
Mr Rundheersing Bheenick, Governor and Chairperson
Mr Yandraduth Googoolye, First Deputy Governor
Dr Ahmad Jameel Khadaroo, Second Deputy Governor
Mr Mohunlall Ramphul, Director
Mr Shyam Razkumar Seebun, Director
Mr Jacques Tin Miow Li Wan Po, Director
Mr Jean George Archimede Lascie, Director
Mr Kader Bhayat S.C, Director
Mr Gooroonaden Vydelingum, Director 
2. The Bank also announces that, following the enactment of the Finance Act 2007, decisions of the Monetary Policy Committee (MPC) no longer require the approval of the Board of Directors of the Bank. Accordingly, the MPC is now empowered to formulate and determine the monetary policy to be conducted by the Bank. 
3. The MPC will henceforth meet on a quarterly basis. Interim MPC meetings will be convened as and when the need arises. The MPC will next meet on 5 December 2007.  Professor Stefan Gerlach, formerly an Observer on the MPC, has become a member of the MPC with effect from September 2007. As provided for under section 54 of the Bank of Mauritius Act 2004, the MPC now comprises eight members.