MAFH Insights on Regulations I March 2021

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The wind of change is blowing through Mauritius…
The Minister of Education, Tertiary Education, Science and Technology in Mauritius introduced The Institute of Technical Education and Technology Bill in Parliament (the “Bill”), and the Bill was first read on 23 March 2021.
The Bill proposes the establishment of the Institute of Technical Education and Technology (the “Institute”). The Institute aims to deliver high quality technical and technology education either on its own or in partnership with other recognised institutions, and ensure the standard and relevance of these courses. Section 5 of the Bill states the functions of the Institute. It is important to highlight that the objects of the Institute are underscored by provision of education which are in line with the current and future needs of the economy, collaboration with the private sector to increase validity and relevance of education that are dispensed by training centres within its purview, and promote capacity building amongst others.
The Institute shall be managed by a Council which shall consist of a Chairperson appointed by the Minister of Education together with representative from other ministries and governmental agencies including the EDB. It is interesting that the Council shall also include two members from the private sector to assist with the administration and management of the Institute.
This Bill highlights the Government of Mauritius commitment to upskill the human capital in Mauritius such that the latter can meet the demand of the FinTech industry especially in the development of novel AI, ML and Big Data solutions.
‘Call for views’ on FinTech
The Ministry of Financial Services and Good Governance (the “Ministry”) issued a communiqué on 19 March 2021 calling for the submission of views from interested parties who wishes to contribute to the development of the FinTech industry in Mauritius. The deadline for submission is Thursday 15 April, 2021 by either email or by post at the following addresses:
Att: The Permanent Secretary
Ministry of Financial Services and Good Governance
Level 9, SICOM Tower
Wall Street, Ebene
The Ministry will utilise these submissions to develop a National Strategy for FinTech to help consumers and businesses and support the Government of Mauritius in its objective to transform Mauritius into a FinTech Hub.
These are very laudable efforts by the Ministry and a clear demonstration of its commitment to support the FinTech industry. The MAFH supports such initiatives as collaboration between the industry, regulators and policymakers help to develop market relevant policies and regulation.