In its 22nd Edition published earlier this week, the noted Global Financial Centres Index ranked Mauritius in the 69th position, ahead of jurisdictions such as Cyprus, Malta, Cape Town, and Nairobi. Mauritius has additionally been acclaimed as one of the most forward-looking “Evolving Centres”.
The Global Financial Centres Index (GFCI 22) makes an assessment of the competitiveness of 108 financial centres based on a matrix of key factors. The Mauritius IFC upheld its reputation as one of leading IFCs in Africa, progressing by 23 points in the ratings. Mauritius notably scored well in the business environment, human capital, infrastructure and financial sector development segments.
Despite Brexit continuing to be a major source of uncertainty in Europe, London managed to retain its leadership position as the world’s top financial centre ahead of New York and Hong Kong. In Asia, financial centres like Singapore, Tokyo and Shanghai have maintained their respective spot in this ranking. The Caribbean centres of the British Virgin Islands and the Bahamas also witnessed strong moves upward.
“The latest ranking bears testimony to the progress being made by Mauritius as an International Financial Centre of choice and repute,” said Faraz Rojid, Officer in Charge of the Financial Services Promotion Agency, mandated to promote and develop the Mauritius IFC. “Our recent initiatives regarding adherence to international norms and best practices is yet to be captured by the Index, as is the new suite of bespoke products introduced by the Government of Mauritius. Taken together, these initiatives propel the Mauritius IFC to a new level of sophistication in terms of business environment, cost and tax competitiveness, market liquidity and efficiency of economic output.”
The full report can be accessed here.