According to Mahen Seeruttun, the Minister of Financial Services and Good Governance, the Mauritius International Financial Centre (IFC) is attracting considerable attention. He highlighted the keen interest of operators, law firms, and family offices in relocating or expanding their presence within the Mauritius IFC based on his recent missions to Europe and India. He made these remarks during a diploma award ceremony, where he emphasized the importance of skill enhancement to ensure lasting growth in the financial services sector.
More than fifty young individuals have successfully completed the Fund Administration/Accounting training offered by Mauritius Finance in partnership with the Human Resource and Development Council (HRDC) under the National Training Reskilling Scheme (NTRS). These graduates have joined the financial services sector through internships provided by this program. A diploma award ceremony took place on Monday, August 7th, at the headquarters of the Financial Services Institute in Ebène.
Mahen Seeruttun, the Minister of Financial Services and Good Governance congratulated the recipients as well as the 25 member companies of Mauritius Finance that participated in this program. “Successful companies are those that support an agile workforce and advocate for continuous learning and reskilling. The government has emphasized skill enhancement in the latest budget presentation. This will enable us to maintain sustainable growth in the financial services sector and achieve our economic ambitions,” explained Mr. Seeruttun. The minister also noted the interest of operators, law firms, and family offices to relocate or expand their presence within the Mauritius International Financial Centre (MIFC), based on his recent missions to Europe and India.
This training, conducted by trainers from Mauritius Finance and CLTI in collaboration with the Alliance Manchester Business School, was fully funded by the HRDC. To date, the government agency has financed the training of 235 participants under the NTRS and 54 young individuals under the Graduate Training for Employment Scheme (GTES). According to Raj Auckloo, the director of the HRDC, the fact that the majority of participants who completed this training immediately found employment attests to the effectiveness of the NTRS. “This success story underscores the importance of collaboration between the HRDC and Mauritius Finance, private companies, and government institutions,” added Mr. Auckloo.
Mauritius Finance continues its mission of capacity building by supporting unemployed youth and offering them opportunities to join the financial services sector. “With the numerous restructuring efforts that the sector has undergone in recent years, it is imperative to increase our capabilities to meet the needs of various international operators established in our jurisdiction, particularly in areas such as anti-money laundering, Fund Administration and Fund Accounting, and Trust Administration, among others. Approximately 1000 jobs are available in the sector this year, and I emphasize that human capital will play a decisive role in shaping the future of financial services,” explained Shamima Mallam-Hassam, President of Mauritius Finance.
The application process for the Foundation Trust in Administration and Accounting training will commence next September.
Mauritius Finance represents all stakeholders in Mauritius’ financial services sector and also works towards capacity building within the industry. Among its current 150 members, Mauritius Finance includes management companies, banks, accounting firms, law firms, the Stock Exchange of Mauritius, fund managers, institutional investors, and other financial industry players holding operation licenses granted by the Financial Services Commission.