3 November 2008, Bank of Mauritius
The public is hereby informed of the following :
On 23 October 2008, SBI International (Mauritius) Ltd, a bank licensed to conduct banking business under the Banking Act 2004, changed its name to SBI (Mauritius) Ltd. Accordingly, the Bank of Mauritius cancelled the Banking Licence issued to SBI International (Mauritius) Ltd and issued a Banking Licence in the name of SBI (Mauritius) Ltd.
On 25 October 2008, the Indian Ocean International Bank Limited, also licensed by the Bank of Mauritius to conduct banking business under the Banking Act 2004, merged with the SBI (Mauritius) Ltd. Following the merger, Indian Ocean International Bank Limited surrendered its Banking Licence to the Bank of Mauritius in accordance with section 11(7) of the Banking Act 2004.
The Banking Licences issued by the Bank of Mauritius in the names of SBI International (Mauritius) Ltd and Indian Ocean International Bank Limited therefore stand cancelled and it is SBI (Mauritius) Ltd which now holds a Banking Licence under the Banking Act 2004.
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