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Future of MIFC resides in mid-shore jurisdiction of substance: AfrAsia Bank

Future of MIFC resides in mid-shore jurisdiction of substance: AfrAsia Bank

The future of the MIFC resides in moving away from a treaty-based to a mid-shore jurisdiction of substance while the need is to remain focused on value-added offerings constituting the sector’s attractiveness. This is according to Senior Executive-Head Global Business at AfrAsia Bank Mr. Yogesh Gokool. He discusses the EU blacklist which is a concern for global businesses and is expected to have a significant impact hinging on several challenges for the jurisdiction such as reputational risks, business risks, and operational risks. Mr. Gokool added that in case Mauritius remains on the list, it may affect EU funding.

Source: Investors Mag