The Bank of Mauritius (Bank) and the Deutsche Bundesbank (DB) have signed a Memorandum of Understanding (MoU) on technical central bank cooperation on Monday 14^th of December 2020. The Bundesbank is the central bank of the Federal Republic of Germany and forms part of the European System of Central Banks.

The MoU between the Mauritian and the German central banks aims, amongst others, at creating conducive conditions for the promotion of mutually beneficial capacity-building activities. By virtue of this MoU, cooperation between the parties will mainly involve training and advisory assistance provided by the Bundesbank.

The Bundesbank’s Centre for International Central Bank Dialogue will play an important role in the delivery of training and advisory services to the Bank. This assistance will include seminars and expert discussions.

The MoU was signed by the Governor of the Bank, Mr Harvesh Seegolam, and by Mr Martin Dinkelborg, Director of the Bundesbank’s Centre for International Central Bank Dialogue. The First Deputy Governor and the Second Deputy Governor of the Bank as well as Chief Executives of all banks in Mauritius attended the virtual signing ceremony.

The signing of this MoU underlines the Bank’s commitment to forging enduring relationships with international institutions. Martin Dinkelborg, Director of the Centre for International Central Bank Dialogue, stated: "We warmly welcome the Central Bank of Mauritius to the circle of our partner institutions."

Governor Harvesh Seegolam underlined that ‘this MoU is a major step in terms of fostering cooperation that will strengthen the banking industry. The support of the Deutsche Bundesbank will contribute to enhancing our human capital with the right tools and skills.’