Introduction – Structured Investment-Linked Insurance Business As announced in the National Budget 2020-2021, the Financial Services Commission Mauritius (FSC) will introduce a regulatory framework for Insurance Wrappers, which will henceforth be referred to as Structured Investment-Linked Insurance Business (SILIB) in order to enhance the competitiveness of the financial services sector. The FSC is proposing to introduce the SILIB within […]
Tender: Procurement of Insurance Services for Motor Vehicles and Assets for the Anti-Doping Agency of Kenya
The Anti-Doping Agency of Kenya (ADAK) is inviting sealed tenders from eligible candidates for the Provision of General Insurance Services for Motor Vehicles and Assets for an initial period of one year, renewable annually up to a maximum of three years subject to the Satisfactory Performance and at the discretion of the ADAK. This tender is open to all interested […]
Relationship between leadership and fiduciary responsibility
Preliminary research results show that there is a strong correlation between genuine leaders and authentic fiduciaries. For the last 14 years, the Centre for Board Certified Fiduciaries has studied the relationship between leadership behaviours and fiduciary responsibility. The research has been focused on one question: Do exemplary fiduciaries demonstrate the same behaviours as distinguished leaders? And the […]
Restricted Tender for Provision of Tripwire System License Renewal, Support and Maintenance to the Central Bank of Kenya for a Period of Three Years
The Central Bank of Kenya is inviting sealed tenders from eligible service providers for the provision of Tripwire System license renewal, support, and maintenance to the central bank of Kenya for a period of three years. The lowest evaluated bid will be recommended for the award of the tender to support the bank in system […]
Why Trust Situs is Important
Also known as the principal place of administration, when does a trust’s situs move? What are the conditions that will trigger this move? Must a trustee be worried about their trust’s situs? In the years, or even decades after a trust are created and also well into its management by a trustee, these very important […]
Challenges of doing business in Luxembourg
Nestled among Europe’s most highly affluent and developed markets, Luxembourg is the perfect logistics hub for expanding businesses. However, complex regulations and laws make daily operations very complicated to do business in Luxembourg without the proper assistance on board. Thanks to its ideal position and rapid access to neighbouring markets, Luxembourg has established itself successfully […]
Severe Reminder To General Insurance Intermediaries by the FCA
The Financial Conduct Authority (FCA), which has identified regular shortcomings concerning general insurance intermediaries’ client money arrangements, is reminding companies of their responsibilities and the implications of non-compliance. “Firms holding client money are accountable for ensuring they understand the related regulatory requirements,” wrote the regulator in a new ‘Dear CEO’ letter to general insurance intermediaries. “Principle 10 of the FCA’s Principles for Business states […]
Auction of new benchmark five-year Government of Mauritius Bonds 2021
According to the issuance plan dated April 22nd, 2021 and under section 5 of the Public Debt Management Act 2008 and section 57 of the Bank of Mauritius Act 2004, the Bank of Mauritius (BoM) is pleased to advertise the issue of a New Benchmark Five-Year Government of Mauritius Bonds. They will mature on May […]
International Monetary Fund Concludes Official 2021 Article IV Consultation with the State of Kuwait
The Central Bank of Kuwait (CBK) issued a press statement on the conclusion of the International Monetary Fund’s (IMF) Article IV Consultation to the State of Kuwait, held virtually from April 4th to 8th 2021. CBK, in coordination with IMF and the relevant national authorities, made the necessary arrangements including information and data compilation, and […]
Introduction of a Regulatory Framework to Facilitate Foreign Currency Borrowings by Licensed Finance Companies 2021
The Monetary Board of the Central Bank of Sri Lanka (CBSL) issued directions on foreign currency borrowings by Licensed Finance Companies (LFCs) on 9th April 2021 with a view to provide flexibility for LFCs to obtain low-cost funding from foreign sources to support their business expansions. The objectives of these directions are to stabilize any […]