Mauritius Offshore Opportunities for Foreign Investors

He explains that "investors from neighboring countries, especially those from the sub-Saharan region and India, will certainly use Mauritius as a center to the extent where the necessary infrastructure is in place, especially because of its geographical position". And to add that "from our point of view, Mauritius will soon become the preferred offshore market for investors from the sub-Saharan region and India for all Islamic financial activities".

The company's flagship market will be the African continent. "Our target market will be Africa, including Mauritius, and Asia, which includes the Middle East, regions where our shareholders find competitive advantages," he said.

The latter also details the services offered by the bank. “Our treasury department will provide our clients with trading investment opportunities in Islamic Treasury products such as Sukuk trading, currency hedging and foreign exchange. Our wealth management services open up great opportunities for both corporations and high net worth individuals to earn more income in a Shari'ah compatible manner.

We are able to accept deposits which will be structured primarily as Islamic term deposits, or as discretionary investments. In the near future, we will launch a range of deposit and investment products that will meet the needs of corporations and high net worth individuals."

"However, if we were to comment on those with the highest growth prospects, we believe that our growth for the first 12-24 months will be primarily through wealth management and structured Islamic currency products. (MUR), especially debt capital markets and fund management.

We believe that in the absence of Shari'ah-compatible deposit or investment products, these products will be well accepted from the outset, especially by Mauritian Muslims, especially those who are cautious about interests which they have received, or which they receive, from sources not compatible with the Shari'ah".