Peer to Peer lending (‘P2P’) is an emerging Fintech practice that enables a person to lend funds through an online portal or electronic platform.
On 31 August 2020, the Financial Services Commission of Mauritius (FSC) issued the Financial Services (Peer to Peer Lending) Rules 2020 with the objective of fostering innovation and furthering access to finance in Mauritius.
The P2P Lending Rule provides for a sound and efficient regulatory environment to support the offer and execution of P2P lending for the benefit of stakeholders in the non-bank financial services sector of Mauritius. Under the P2P Lending Rules, a Peer-to-Peer operator will facilitate access to finance by matching borrowers and lenders on its online platform. The Lenders and borrowers can be residents and non-residents of Mauritius.