The Bank of Mauritius becomes a member of the OECD and INFE

The Bank of Mauritius (BoM) has joined the Organisation for Economic Co-operation and Development International Network on Financial Education (OECD/INFE).

The OECD/INFE is a forum that brings together central bankers and policy makers from over 125 countries. It constitutes an important platform for the sharing of best practices and experience on the promotion of financial literacy.

The OECD/INFE provides support to policy makers and public authorities in terms of the design and implementation of country-specific financial education strategies. It also proposes innovative methods for a more effective roll out of financial literacy programmes.

Bank of Mauritius Governor Harvesh Seegolam, who is also the current Chairperson of the Governing Board of Regional Centre of Excellence established in Mauritius in 2019 in collaboration with the OECD, declared that "joining the OECD International Network on Financial Education further demonstrates the Bank's commitment to having a financial sector where consumers have a clear understanding of financial products and risks while also being aware of opportunities that will help improve their financial well-being. This membership comes at opportune moment when the Bank prepares to roll out an innovative financial literacy programme both in Mauritius and Rodrigues."

Commenting on this milestone for the Bank of Mauritius, Greg Medcraft, Director of the Directorate for Financial and Enterprise Affairs of the OECD, stated that "the participation of Bank of Mauritius in the OECD/INFE will certainly help the country to benefit from the international experience as it develops its financial literacy policies and programmes. At the same time, it will enrich the OECD/INFE and enlarge its membership in Africa, which is relatively less represented than other continents."