28 June 2019
The Bank of Mauritius (the Bank) had, on 14 November 2018, released a Guideline for the write-off of non-performing assets (Guideline) to be implemented by banks.
The relevant communiqué is accessible on the website of the Bank at the following link:
https://www.bom.mu/media/media-releases/public-notice-guideline-write-non-performing-assets
Effective date for non-bank deposit taking institutions
It was announced in the aforementioned communiqué that the Guideline would also be made applicable to non-bank deposit taking institutions (NBDTIs) with effect from 1 July 2019. Accordingly, the scope of application of the Guideline is being extended to NBDTIs. The same requirements apply to banks and NBDTIs.
Transitional Arrangements
NBDTIs will be given a timeframe of one year, as from 1 July 2019, to be in full compliance with the Guideline.
Issue of Guideline
The updated Guideline can be accessed on the website of the Bank at the following link:
https://www.bom.mu/financial-stability/supervision/guideline
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