Financial authorities in Mauritius are contemplating the establishment of a sovereign fund to provide seed capital for the development of fintech activities in the island nation.
The idea was floated at the first meeting of a high-level Fintech and Innovation-driven Financial Services Regulatory Committee panel meeting late last week.
The seven-member conclave was established with the aim of positioning Mauritius as a regional hub in the field of fintech regulation.
The sovereign fund is viewed as a means to attract startups to Mauritius and promote the nation as an open and transparent regulatory regime for fintech.
Alongside a tweaking of the financial rulebook, the FCS panel also dicsussed plans for light-touch regulation of blockchain-related activities to encourage its development and recognise its potential economic benefits.