25 September 2020
On 24 September 2020, the Bank of Mauritius (Bank) issued a Guideline on Payment of Dividend (Guideline) applicable, with immediate effect, to all banks and non-bank deposit taking institutions.
The Guideline sets out the regulatory and prudential requirements to be observed by banks and non-bank deposit taking institutions before declaring dividend payments or other transfers from profits in addition to those already stipulated in the Banking Act.
The Guideline offers a forward-looking approach to the preservation of capital of banks and non-bank deposit-taking institutions. It ensures these financial institutions maintain adequate capital buffers, especially in the current stressed economic environment, to absorb any losses and preserve their financial soundness.
A copy of the Guideline can be accessed on the Bank’s website at the following link:
https://www.bom.mu/financial-stability/supervision/guideline
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