Bank of Mauritius could push for new interest rate power
Central bank calls for ‘fairer’ terms and conditions in banking contracts
The Bank of Mauritius should be given the power to regulate interest rate spreads and prevent banks from imposing higher borrowing costs on their customers, according to a report published last week.
The proposal was one of 100 recommendations made by a task force, chaired by the central bank's chief of legal services, Sonali Sewraj-Reetoo, on the terms and conditions of banking contracts in the Mauritian economy.
In their investigation, the task force identified a "profound resentment" towards
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