On 24 August 2020, the Bank of Mauritius (‘Bank’) revoked the Islamic Banking Licence of Century Banking Corporation Ltd (CBC) with immediate effect under section 17 of the Banking Act 2004.

In terms of section 17(3) of the Banking Act 2004, CBC was entitled to make representations to the Bank, within 7 days of the revocation of its Licence, that is by 31 August 2020. The Bank did not receive any representation from CBC.

Members of the public are hereby informed that the Islamic Banking Licence issued to CBC on 3 September 2010 stands revoked with effect from 24 August 2020.

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