The Cabinet met on March 20 chaired by Prime Minister Dr Navin Ramgoolam where assent was given to several agreements such as the Anti-Money Laundering (AML), Combatting the Financing of Terrorism and Countering Proliferation Financing (Miscellaneous Provisions) Bill to be introduced into the National Assembly, promulgation of the Income Tax (Common Reporting Standard) (Amendment) Regulations 2026 as well as the National Strategy for Combatting Money Laundering and Countering the Financing of Terrorism 2026-2029.
The Combatting the Financing of Terrorism and Countering Proliferation Financing bill in the National Assembly aims to amend various enactments designed to help improve the efficiency of combating crimes, encompassing money laundering, terrorism financing and proliferation financing.
One of the major highlights is the necessary measures and safeguards to render it difficult for criminals to use and abuse the country’s administrative and financial systems, while at the same time combating crimes more efficiently. Moreover, the bull reflects the Government’s determination to continuously adhere to international standards, including the Financial Action Task Force on anti-money laundering, combatting the financing of terrorism, and countering proliferation financing.
The cabinet has also agreed to the promulgation of the Income Tax (Common Reporting Standard) (Amendment) Regulations 2026. The Addendum to the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account information (CRS MCAA) contains provision for the inclusion of additional information to be reported as part of the annual filings of a reporting financial institution, inked in December 2025. The Regulations are expected to be implemented in respect of the calendar year starting in January. 01 2026.
Moreover, the National Strategy for Combatting Money Laundering and Countering the Financing of Terrorism 2026-2029 has also been agreed upon, where it enumerates special actions to help enhance the effectiveness of risk mitigation.
It reflects the government’s proactive approach towards maintaining economic and financial integrity, as well as strengthening national security, where the strategy aligns itself with national efforts with evolving international standards of the Financial Action Task Force and builds on progress achieved under previous reforms.
The National Strategy contains 10 core strategic themes for combatting money laundering and 10 core strategic themes for countering the financing of terrorism, which collectively enhance the ability of Mauritius to sustainably prevent, detect, and deter Money Laundering and Terrorism Financing activities effectively.
It also adopts a risk-based and whole-of-government approach, focusing on enhancing inter-agency coordination, strengthening supervisory and enforcement mechanisms, improving financial intelligence and data analytics capabilities, while at the same time, ensuring more effective implementation across financial institutions and designated non-financial businesses and professions.
Moreover, the strategy is intended to guide relevant stakeholders in developing their own Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) strategies and mitigating controls.
Based on the National Strategy for Combatting Money Laundering and Countering the Financing of Terrorism 2026- 2029, an AML/CFT National Action Plan has also been developed. The AML/CFT National Action Plan will, where relevant, be adopted at the level of competent authorities and supported by the necessary resources to ensure implementation of the risk mitigating measures.
