Who we are
Mauritius Finance is the leading voice for the financial services industry in Mauritius, born of a merger between Global Finance Mauritius (GFM) and the Association of Trust and Management Companies (ATMC), who have joined forces to become one well-resourced organisation. It was founded in 2020 and acts as the flagship body representing the global business industry and the broader financial services sector in Mauritius.
It brings together leading players in the realm of the Financial Sector which comprises of banks, management companies, accounting firms, law firms and institutional investors, the Stock Exchange of Mauritius and all other licensees of the Financial Services Commission (FSC), aiming at developing Mauritius as an International Financial Centre of substance.
Mission and Objectives
Our mission is to act as a bridge forging linkage between the public and private sectors in Mauritius. We also contribute to financial services strategy and policy development.
To work constructively with governments, industry regulators, tax and other authorities to ensure that policy decisions are well-informed, provide technical advice and support and respond to consultations
To provide a single forum for financial services providers to discuss matters with regard to the Financial Services Industry
To advance knowledge and training in areas relevant to the financial services sector
To support in maintaining professional and ethical standards through education and training
To promote the Mauritian financial services sector
Our Board Members
Mr Mahesh Doorgakant
Managing Director - Apex Fund Services (Mauritius) Ltd
Maheshwar Doorgakant is a fellow of the Institute of Chartered Accountants of England and Wales. He is the Managing Director of Apex Fund Services (Mauritius) Ltd (“Apex Mauritius”), which forms part of the Apex Group (theapexgroup.com) which has offices in various jurisdictions including New York, London, Dubai, Singapore, Hong Kong and Ireland. Mahesh has been the president of the executive committee of the Association of Trust and Management Companies of Mauritius. He has also been the vice-president of the Mauritius Society of Chartered Accountants. Prior to joining Apex Mauritius, he was the Group Financial Controller of a major listed group in Mauritius.
Ms Shamima Mallam-Hassam
Managing Director - Trident Trust Company (Mauritius) Ltd
Shamima is the Managing Director of Trident Trust Company (Mauritius) Ltd, a leading independent provider of corporate services, trust and fund administration services. With more than 40 years of experience, Trident has been providing services to leading financial institutions, professional advisors, asset managers, family offices as well as international businesses. She brings to the group more than 20 years of experience within the field of business and strategy development within the financial services sector. Prior to that, Shamima was the Country Executive of Alter Domus Mauritius, a global fund and corporate administrator with a footprint in more than 20 countries. Under her tenure at Alter Domus Mauritius, she grew the business and contributed in enhancing the visibility of Alter Domus in Africa and Asia. Shamima also worked at CIM Global Business, as the Head of Business Development. Her mandate comprised the generation of revenue for the CIM group through new business initiatives and the extension of the firm’s footprint in key African jurisdictions. From 2007 to 2015, Shamima was Senior Director at the Board of Investment, the national investment promotion agency of the Government of Mauritius where she spearheaded a number of initiatives and contributed to the formulation of several landmark investment policies. Having been active in promoting investment, closing deals and advising clients on the structuring of their investments, Shamima has built a wide experience in negotiating with African firms and private equities. Shamima’s academic credentials include a ‘Maitrise’ in Economic Science from the University of Aix-en-Provence in France. She has also completed the General Management Program at ESSEC Business School in France.
Mr Assad Abdullatiff
Founding Partner & Managing Director - AXIS Fiduciary Ltd
Assad Abdullatiff is one of the founding partners and the Managing Director of AXIS Fiduciary Ltd, a leading Mauritius-based independent trust company providing a full spectrum of fiduciary and corporate services to an international client base. Assad read for Bachelor of Law with Honours and a Master of Laws in the United Kingdom specializing in Business Law. Upon his return to Mauritius, he successfully sat for the Bar Vocational Course and was admitted to the Bar of Mauritius. He started his career in the financial services sector within a global fiduciary firm and counts several years of solid experience within the corporate and trust industry. Immediately prior to joining AXIS Fiduciary Ltd, Assad was an Assistant Director at the Board of Investment of Mauritius, where he was the Head of the Financial Services Cluster and responsible for the promotion of Mauritius as an International Financial Centre. Assad’s areas of expertise spans the following areas: corporate law & governance, tax planning and structuring, fund formation & administration, company secretarial, trusts and estate planning. He has a keen interest in Estate Planning and is a full member of the Society of Trusts & Estate Practitioners (STEP) where he is very involved both at the domestic and international level. He is a past Chairman of the Mauritius branch of STEP and has been appointed as: - Director on the STEP Worldwide Board in 2020 for a mandate of two years. He is the first Mauritian to be appointed as a board member of STEP - Council member for the second consecutive mandate to represent the Africa and Arabia region on the Worldwide Council of STEP Assad has been and continues to be heavily involved in the promotion and development of the international financial services industry of Mauritius through his contribution in various sectorial and industry associations. He was the Chairman of the ATMC for the years 2017-2018. He is currently engaged in the following organizations/committees: - The Blueprint Steering Committee; - The Executive Committee of Association of Trust and Management Companies; - The Mauritius Branch of STEP & STEP Council. Assad also serves as independent Director on a number of companies in Mauritius operating in diverse economic sectors. He is also a regular contributor to local and international publications on topics relevant to his practice.
Mrs Priscilla Balgobin-Bhoyrul
Senior Partner - Dentons Mauritius
Priscilla is a Senior Partner in the Dentons Mauritius office. She is a graduate of the London School of Economics and Political Science, UK (1997) and has been called both to the Bar of England and Wales at the Middle Temple (1998) and to the Mauritian Bar (1999). She has a Higher Certificate in Law (City University, London, 1998), a Certificate in Women’s Rights (London School of Economics and Political Science, 2006) and has followed the Authentic Leadership Development Program at Harvard Business School (2015). Priscilla has been called both to the Bar of England and Wales and to the Mauritian Bar. Priscilla’s practice focuses on private equity funds, corporate and employment law matters. She also regularly advises or acts on behalf of commercial and investment banks, private equity and venture capital firms. Over the years, she has been involved in a number of M&As and IPOs, many of them involving companies in the global business sector or foreign companies investing in Mauritius. Priscilla has a keen interest for Fintech matters and keeps herself abreast of all developments in that field, often advising clients on the developments and ongoing regulatory requirements and compliance issues, as well as data management and protection. Furthermore, Priscilla is very familiar with both the private sectors and the public sectors in Mauritius, having worked with both of them. She has in the past advised the Ministry of Women’s Rights on a part time basis and was a member of the Public Bodies Appeal Tribunal (PBAT), a Tribunal set up under the Constitution of Mauritius and which sits on appeal from decisions of the Public Service Commission regarding appointments in the public service in Mauritius.
Mr Sunil Benimadhu
Chief Executive Officer - Stock Exchange of Mauritius
Sunil Benimadhu joined the Stock Exchange of Mauritius (SEM) as Chief Executive in May 1998. He has played an instrumental role in uplifting the operational, technological and regulatory infrastructure of the SEM and contributed to its emergence as one of the leading Exchanges in Africa. Sunil is a Board member of the World Federation of Exchanges (WFE), a key standards-setter in the Exchange industry at the global level, since October 2014. Sunil has been the President of the African Securities Exchanges Association (ASEA), from August 2010 to November 2014. He was also a member of the Executive Committee of the South Asian Federation of Exchanges (SAFE), from 2002 to 2004. Sunil is the Chairman of Global Finance Mauritius since 2015. He holds graduate degrees in Finance and Economics from the United States and France.
Mr John Chung
Managing Partner - KPMG
John heads the Mauritius practice of KPMG since 2016. He has spent all his career with KPMG. After he graduated at the LSE, he trained and qualified as a Chartered Accountant with KPMG in London, UK. He has also followed leadership and banking courses at INSEAD France. He has over the last 20 years contributed to the development of the financial services sector in Mauritius, advising and supporting global corporates to invest in and through Mauritius. He continues to take an active role in Regulatory and Financial Reporting matters. He is the founding Chairman of the FRC’s Audit Practice Review Panel, and remains a member of that Panel. He is also a current member of the Company Law Advisory Committee, established in accordance with the Companies Act.
Mr Shahed Hoolash
Managing Director - Vistra (Mauritius) Ltd
Shahed is the Managing Director and Partner of Vistra (Mauritius) Limited (or an affiliate thereof as context may require, “Vistra”). Prior to joining Vistra in May 2018, he was heading the corporate services business of Deutsche Bank in Mauritius. Shahed has more than twenty years of experience, acquired at leading fund and corporate services providers in Mauritius such as Multiconsult Limited (now IQEQ Mauritius) and International Financial Services Limited (Sanne Mauritius). Shahed has developed extensive technical expertise relevant to global businesses, effective leadership skills, a sharp business acumen, in addition to strong client relationship management skills. He is a fellow member of the Association of Chartered Certified Accountants and a member of the Mauritius Institute of Directors. He is also a member of the Vice President of the Association of Trust and Management Companies in Mauritius, a body of the financial services industry, and sits on various joint government/private sector committees.
Mr Ben Lim
Chief Executive Officer - Intercontinental Trust Limited
Ben Lim is the Chief Executive Officer of Intercontinental Trust Limited, one of the leading management companies in Mauritius. Ben has been actively involved in the Mauritius international financial services sector since its inception in the early 1990s and has played a decisive role in the Global Business and regulatory reform process in Mauritius. Ben is a past President of the Association of Offshore and Management Companies in Mauritius. He was a Founding and Executive Committee Member of the Asia Pacific Offshore Institute. He sat on the board of Standard Bank (Mauritius) Ltd and was, until March 2015, Board Member of the Board of Investment, the apex government organisation responsible for the promotion of Mauritius. Ben served as a member of the Financial Services Consultative Committee ("FSCC") which was constituted pursuant to the Financial Services Act 2007 under the Chairmanship of the Vice-Prime Minister and Minister of Finance & Economic Development. Ben is a member of the Young Presidents Organisation (“YPO”) in the Mauritius and Pan African Chapter. He is also the Deal Network Champion for YPO for East and West Africa. Ben is also the Honorary Consul of the Grand Duchy of Luxembourg in Mauritius.
Mr Mathieu Mandeng
CEO & Executive Director - Standard Chartered Mauritius
Mathieu Mandeng, CEO and Executive Director of Standard Chartered Mauritius chairs the board of four Standard Chartered Bank Private Equity Funds investing in India, China, Nigeria, Botswana, Hong Kong, and Mauritius. He also serves as Non-Executive Director of Standard Chartered Cameroon and Cote D’Ivoire. Mathieu, previously Vice Chairman of the Mauritius Bankers Association, was appointed member of the Economic Development Board of Mauritius in 2020. He is also a Director of Mauritius Finance and a member of the Economic Committee of Business Mauritius. Prior to his appointment in Mauritius in 2015, Mathieu was CEO of Standard Chartered Cameroon. During his term, Mathieu was the Chairman of APECCAM, the banking and financial services association in the country. Mathieu also worked regularly with the Singapore Business Federation, promoting trade and investment between Singapore and West Africa.
Mr Sridhar Nagarajan
Managing Director - IQ-EQ Mauritius
With over two decades of experience as a banker with extensive exposure to India and Africa, Sridhar Nagarajan has held several senior business roles in Corporate, Institutional, Investment banking, and Country Governance. With an MBA in Finance & Marketing and a degree in Engineering, he has had a successful track record as a seasoned professional, people-centric leader, strategic thinker, and turnaround expert. After a long career with the Standard Chartered Bank, in 2015, Sridhar took the responsibility of merging and turning around two state-owned banks, thus establishing Maubank Ltd. Maubank is currently profitable and recognised for its unique SME support and digitalization aspects of retail banking. He is currently the Regional Managing Director of IQ-EQ Mauritius, one of the major players in the Investor services sector with an international footprint, and is responsible for the African region head-quartered in Mauritius. Sridhar has held several roles in contributing to the industry in Mauritius. He is one of the founders of Global Finance Mauritius, the apex industry body. He chaired the SME Equity Fund Ltd, a joint venture between Banks and the Government to support equity flows into deserving SMEs. He also chaired the Mauritius Banking Association’s committee on SME Development and International Banking. He is currently the Chair of the Financial Service Commission’s Task Force on Global Business and a member of the University of Mauritius Industry Consultative Committee. He is a keen golfer and a long-distance runner. His other hobbies include reading on diverse topics, gardening, and chess. He lives in Mauritius with his wife and their two daughters.
Mr Rama Sithanen
Chairman - SANNE Mauritius
Rama is recognised for his role in establishing Mauritius as an International Financial Centre when he was Minister of Finance from 1991 to 1995. He is highly regarded for his economic reform that helped to re-position Mauritius as a diversified economy. He was also Deputy Prime Minister and Minister of Finance, Economic Development, and Economic Empowerment between 2005 and 2010. He was Chairperson of Rwanda Development Board and adviser for the Government of Rwanda on taxes, competitiveness, and financial services issues. Dr. Sithanen is the present Chairman of SANNE Mauritius. He read Economics at the London School of Economics and Political Science and holds a BSc with first-class honors and an MSc with a mark of distinction. He has a Ph.D. in Political Science from Brunel University, UK.
Mr Gordon Stuart
Managing Director - Accuro Mauritius
Gordon is a director on Accuro’s holding company board and the Managing Director of the Accuro Mauritius. Prior to moving to Mauritius in 2016 Gordon had 18 years’ experience in the trust and fiduciary industry in South Africa with extensive knowledge and experience in South African exchange controls, tax, trusts and wills. Prior to joining Accuro, he was the Group Chief Operating Officer of a nationally based, South African fiduciary services company. Gordon is a regular guest on various television shows and also regularly delivers public talks on all aspects pertaining to trusts, tax and other estate planning topics. Gordon holds a Bachelor of Commerce Degree in Law, a Certificate in Advanced Trust Law, an Honours Degree in Tax Law, a Master’s Degree in Finance and Estate Planning and a Master’s Degree in Tax Law (LLM). He is a full member of the International Society of Trust and Estate Practitioners (TEP) and a member of the Fiduciary Institute of South Africa (FPSA) with the following recognized specialties; Senior Estate and Financial Practitioner, Senior Trust Administrator and Senior Wills Drafter.
MAURITIUS FINANCE
Our Team
Samade Jhummun
Chief Executive Officer
Samade Jhummun is an experienced finance professional over 20 years of experience in the financial services industry. He has worked across several jurisdictions including Mauritius, the Channel Islands and Ireland in different capacity with Argyll Management Services Ltd, Northern Trust, Trident Trust, Deutsche Bank, Multiconsult. Prior to joining Mauritius Finance, he was the Chief Executive Officer of Global Finance Mauritius since 2016. Samade is a Fellow of the Association of Chartered Certified Accountants, a Member of the Chartered Institute for Securities & Investment, the International Fiscal Association, and the Mauritius Institute of Directors. He also holds a Non-Executive Director Diploma from The Financial Times.
Vinod Busawah
Chief Operating Officer
Vinod Bussawah has served as the CEO of the Association of Trust and Management Companies (ATMC) for two years. He is an ethical finance professional (FCCA, MBA, Diploma in Corporate Governance) with over 30 years of experience working at the senior management level of recognized institutions in Mauritius and the region. He has a vast experience in the education and finance sector. Dynamic, and result-oriented, Vinod has a strong track record of effective performance. As the Country Manager of ACCA Mauritius, he has been instrumental in making the qualification a household name in the island. Vinod was also the General Manager of LCA Mauritius, where he succeeded in establishing a conducive learning environment for ACCA students. Vinod’s vast experience in the field of professional education has also provided him with the opportunity to serve on several boards, namely the Human Resource Development Council (HRDC) and subcommittees of Mauritius Qualifications Authority (MQA). As General Manager of a manufacturing company in Uganda, Vinod proved to be a versatile leader who successfully implemented his managerial skills in a completely new field to him, namely the manufacturing of water tanks. He also had a decisive involvement in the successful implementation of ISO9001 2015 in this company. Vinod’s involvement in social work has earned him the title of Honorary Citizen of Lallmatie village.
Mauritius Finance
Committees
The Board of Mauritius Finance has set up several Technical Committees that will assist and advise the board on technical matters and Sub Committees which will work on specific issues to assist the board in achieving its overall objectives.
Technical Committees and Sub-Committees:
Stakeholders
Our mission is to act as a bridge forging linkage between the public and private sectors in Mauritius. We also contribute to financial services strategy and policy development.
Contact us
Office Location
1st Floor, Atal Bihari Vajpayee Tower
Ebene,
Mauritius
Phone & Fax
P: 464 8409
F: 464 8388