Featured Product

    BOM Extends Timeline for Loan Moratoria to Ease Impact of COVID Crisis

    September 07, 2020

    BOM is extending, to December 31, 2020, the moratoria on loans granted by commercial banks to economic operators (including small and medium enterprises), households, and individuals under the COVID-19 support program. The terms and conditions of the moratoria remain the same, as communicated in April 2020.

    The moratoria announced by BOM are deferments of the repayment of capital and interest, where applicable, on loans for a specified period of time. Under this program, commercial banks are providing a moratorium of six months on capital repayment for existing loans of economic operators, starting from March 23, 2020, that are being affected by the pandemic. Commercial banks are also providing a moratorium of six months on capital and interest repayment for existing loans for SMEs, starting from March 23, 2020. For households and individuals, the moratorium is six months on capital repayments beginning April 01, 2020. BOM had agreed to pay the interest on outstanding household loans for the period of April 01, 2020 to June 30, 2020. These moratoria aim at temporarily alleviating the financial constraints of the businesses, households, and individuals experiencing difficulties over the scheduled repayment of loans as a direct result of the COVID-19 pandemic. Applicants wishing to benefit from the moratorium on their existing loans must make a request to their respective commercial bank. 

     

    Related Links

    Keywords: Middle East and Africa, Mauritius, Banking, COVID-19, Credit Risk, Loan Moratorium, Payment Deferrals, BOM

    Featured Experts
    Related Articles
    News

    BoE Seeks Information Before Migrating Statistical Reporting to BEEDS

    The Bank of England (BoE) published the Statistical Notice 2021/09 requiring additional information from firms and software vendors to assist in the onboarding and testing phases for migrating statistical reporting to the BEEDS portal.

    October 25, 2021 WebPage Regulatory News
    News

    FCA Publishes Final Rules on Investment Firms Prudential Regime

    The Financial Conduct Authority (FCA) published the final rules on the Investment Firms Prudential Regime (IFPR) to streamline and simplify the prudential requirements for solo-regulated UK firms authorized under the Markets in Financial Instruments Directive (MiFID).

    October 25, 2021 WebPage Regulatory News
    News

    CFRF Publishes Guides to Manage Financial Risks from Climate Change

    The working groups of the Climate Financial Risk Forum (CFRF) published a second round of guides (or Session 2 guides), written by the industry for the industry, to help financial firms manage climate-related financial risks.

    October 21, 2021 WebPage Regulatory News
    News

    PRA Finalizes Policy for Non-Performing Exposure Securitizations

    The Prudential Regulation Authority (PRA) published the final Policy Statement PS24/21 that contains the new Non-Performing Exposures Securitization Part of the PRA Rulebook and an updated Supervisory Statement SS10/18 on the general requirements and capital framework with respect to securitizations.

    October 21, 2021 WebPage Regulatory News
    News

    EBA Updates Filing Rules for Supervisory Reporting

    The European Banking Authority (EBA) published version 5.1 of the filing rules for supervisory reporting.

    October 19, 2021 WebPage Regulatory News
    News

    ECB Amends Guideline on Procedures for Collection of AnaCredit Data

    The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.

    October 19, 2021 WebPage Regulatory News
    News

    ECB Amends Guideline on Procedures for Collection of AnaCredit Data

    The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.

    October 19, 2021 WebPage Regulatory News
    News

    EBA Publishes Standards on Disclosure of Investment Policy Under IFR

    The European Banking Authority (EBA) published the final draft regulatory technical standards on disclosure of investment policy by investment firms, under the Investment Firms Regulation (IFR).

    October 19, 2021 WebPage Regulatory News
    News

    EU to Explore Potential of Establishing a Joint Cyber Unit

    The European Council adopted conclusions inviting the European Union (EU) and the member states to further develop the cybersecurity crisis management framework.

    October 19, 2021 WebPage Regulatory News
    News

    EC Sets Out Work Program for 2022

    The European Commission (EC) adopted the work program for 2022.

    October 19, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7598