News

Credentia Admin

55th Mauritius Independence Day

By: Credentia Admin | Date: March 16, 2023

Categories: News event,

55th Mauritius Independence Day

EVENTS & NEWS 55th Mauritius Independence Day Read More

African Leadership Award 2023

By: Credentia Admin | Date: March 6, 2023

Categories: News event,

African Leadership Award 2023

EVENTS & NEWS African Leadership Award 2023. African Leadership Award 2023 Download the African Leadership Award 2023 PDF Read More

Happy Valentine 2023

By: Credentia Admin | Date: February 15, 2023

Categories: News event,

Happy Valentine 2023

EVENTS & NEWS Happy Valentine 2023 Read More

Chinese New Year 2023

By: Credentia Admin | Date: January 24, 2023

Categories: News event,

Chinese New Year 2023

EVENTS & NEWS Chinese New Year 2023 Welcoming the Chinese New Year of the Rabbit at our office with the traditional lion dancing, which is believed to usher in good luck and prosperity. Read More

Foundation

By: Credentia Admin | Date: December 12, 2022

Categories: M&S FOUNDATION,

Foundation

No act of kindness, however small, is ever wasted. Read More

REDEFINING

By: Credentia Admin | Date: August 9, 2022

Categories: slider,

REDEFINING

REDEFINING THE ART OF SERVICE Read More

INDEPENDENCE

By: Credentia Admin | Date: August 9, 2022

Categories: slider,

INDEPENDENCE

INDEPENDENCE. WE CONCENTRATE ON YOUR INTERESTS Read More

RECOGNISED

By: Credentia Admin | Date: August 9, 2022

Categories: slider,

RECOGNISED

RECOGNISED FOR ITS ABILITY TO THINK DIFFERENTLY Read More

Lounge

By: Credentia Admin | Date: December 12, 2022

Categories: CYBERATI LOUNGE,

Lounge

The services the Lounge provides our clients is a place to hold their headquarters in Mauritius and/or having a physical office to make their base for their international business with all the facilities required.  Our clients have a one-stop-shop plug and perform service area from which to work from on arrival in our country. Read More

TURNING

By: Credentia Admin | Date: August 9, 2022

Categories: slider,

TURNING

TURNING CONVICTIONS INTO REALITY THROUGH OUR STRONG ENTREPRENEURIAL VISION Read More

Global

By: Credentia Admin | Date: December 12, 2022

Categories: CREDENTIA GLOBAL,

Global

The services our Global company provides are the following: Outsourcing Human Resources Management and Payroll. Consultancy. Advisory. Accounting. Compliance (Traditional & Outsourcing Services for Independent Audits and Compliance ongoing administration). Permits Application and Processing. Conciergerie Services. Read More

CAREERS

By: Credentia Admin | Date: December 12, 2022

Categories: Uncategorized 2,

CAREERS

CAREERS HOW WE VALUE OUR COLLEAGUES As a multi-cultural island, with a huge diversity prevailing around us each day, at Credentia we have zero tolerance for discrimination, bigotry or hate of any kind with regards to ethnicity, religion, disability, sexual orientation and gender identity. We strongly support diversity as everyone has an opportunity to bring to the table by not only representing themselves as an individual but sharing in their cultural background and life experiences. We are committed to equal opportunity for all our fellow colleagues. Current Available Positions › Read More

OUR TALENTED TEAM

By: Credentia Admin | Date: December 12, 2022

Categories: Uncategorized,

OUR TALENTED TEAM

OUR TALENTED TEAM At Credentia, we believe that human talent, expertise and experience can make a difference in the way we deliver unparalleled, exceptional and consistent service whilst propositioning a way to operate the day to day. With a high-calibre team carefully selected individuals and a solution-oriented work environment, life at Credentia thrives on a culture that supports talent, openness, ambition and coherency. Learn more › Read More

Sharma K. (Sanjeev) Gopaul

By: Credentia Admin | Date: July 30, 2022

Categories: Team,

Sharma K. (Sanjeev) Gopaul

Sharma K. (Sanjeev) Gopaul is the CEO and Founder of Credentia Group (www.credentiainternational.com), an independently owned group offering financial, advisory and related services to private and institutional clients. Sanjeev began his career in 2000 and spent the initial eleven years learning about investment, banking, client service, international structuring, business development and capital markets.To fulfil his years-long dream, Sanjeev founded his first company in 2012 with just two employees with the principal aim of creating a diversified group of companies over the years. Today, the group is involved in consultancy, advisory, financial, fiduciary and outsourcing activities and is a pioneer in the capital market segment with prestigious clients such as African Export-Import Bank, CIMB Group Sdn. Bhd., China Galaxy International Financial Holdings Limited, First Prudential Markets, Credit Financier Invest and many more. With his unflinching entrepreneurial spirit, Sanjeev continues to create and develop new start-ups together with his team. Among the ventures he founded, Credentia Global (www.credentiaglobal.com) is already established in the shared services segment and the Cyberati Lounge (www.cyberatilounge.com) is a fintech lounge housing the worlds’ biggest brokerage companies. In October 2021, the group launched the M&S Foundation (www.msfoundation.life), which is involved in helping children born with congenital anomalies. The entrepreneurial journey continues. Sanjeev holds a Master of Business Administration (Finance) degree from the University of Queensland, a Master of Science degree in Statistics and is a Science graduate in Statistics. Read More

Neeteen Basantlala

By: Credentia Admin | Date: July 30, 2022

Categories: Team,

Neeteen Basantlala

Neeteen joined Credentia International Management Ltd in February 2019 and currently holds the position of Executive Director and Chief Operating Officer. He is currently an approved Officer of the Financial Services Commission. He is also designated as the MLRO of an Investment Dealer and sits as Resident Director on the Board of various Global Business entities.Neeteen completed his BSc (Hons) Management from the University of Mauritius and holds a Diploma in Business Practice from the Chartered Governance Institute of United Kingdom. He has been in the administration field for more than 15 years, with the responsibility for a portfolio of Companies, Trusts, Foundations, and other entities which enhanced his experience in the Corporate Administration and Secretarial fields. Read More

Jaynarainsingh (Vinay) Tatarah

By: Credentia Admin | Date: July 30, 2022

Categories: Team,

Jaynarainsingh (Vinay) Tatarah

Jaynarainsingh is a specialist with over 20 years of working experience in the Finance and Accounting field, and exposure in various sectors such as freeport, construction, logistics, hospitality and currently offshore. He has in-depth knowledge in management accounting, treasury management, working capital and long-term cash flow management and tax reporting. He also has exposure in Human Resources Management and payroll preparation, administrative and secretarial duties.Jaynarainsingh holds a BSc (Hons) in Applied Accounting from the Oxford Brookes University, England since December 2014 and is an approved officer by the Financial Services Commission since 2018. He acts as resident Non- Executive Director for various Global Business companies which hold specialised licenses.Since 2020, Jaynarainsingh is also the Executive Director of Credentia International Management Ltd and holds the position of Finance Manager for the Group. Read More

ADVISORY & CONCIERGERIE SERVICES

By: Credentia Admin | Date: July 30, 2022

Categories: Service,

ADVISORY & CONCIERGERIE SERVICES

› Advisory & company secretarial services › Capital-raising and corporate finance › Advice on setting up business in Mauritius › Facilitation services with the authorities and service providers › Expat services › Establishment of offices › Relocation services › Work and resident permit applications Read More

Isabelle Orian

By: Credentia Admin | Date: July 30, 2022

Categories: Team,

Isabelle Orian

Isabelle has a Human Resources, Compliance and Corporate Administration background and nearly three decades of career experience in Financial Services and Corporate Strategic Development in business onshore and offshore working with clients from all over the world. She joined the Credentia International Management Ltd Team in July 2022 to enhance business opportunities and develop new lines of services which we as a Company can offer our clients while carefully hand-picking an experienced team of talented and qualified professionals to cater for our clients and their corporations. Isabelle brings with her enormous experience in client focus and satisfaction, having been an approved officer by the Financial Services Commission in Mauritius and held the following positions during her career:  Managing Director and Principal of another Management Company in Mauritius, Money Laundering Reporting Officer (MLRO) and Deputy MLRO and Executive Trustee, Head of Business Development and Sales.Her dynamic, ethical, spontaneous, think-out-of-the-box attitude and her ability to connect with people on a professional and humanitarian level have brought about building long-lasting relationships with clients all over the world. Read More

COMPLIANCE SERVICES

By: Credentia Admin | Date: July 30, 2022

Categories: Service,

COMPLIANCE SERVICES

› Financial compliance › Regulatory compliance › Technical compliance › Onboarding › Outsourced compliance Read More

Tariq Caramtali

By: Credentia Admin | Date: July 30, 2022

Categories: Team,

Tariq Caramtali

Tariq Caramtali holds an LLB (Hons) degree from the University of Wolverhampton, UK. He is also a Member of the Association of Certified Anti-Money Laundering Specialists (ACAMS) with the CAMS designation and an Affiliate Member of the International Compliance Association (ICA), UK. He followed the Bar Vocational Course at the Council of Legal Education, Mauritius, during the year 2006. Tariq has a combined working experience of more than 10 years in the Legal/Global Business sector, and he joined Credentia International Management Ltd in August 2020. He heads the Legal and Compliance Department and is also an approved Compliance Officer & Money Laundering Reporting Officer by the Financial Services Commission of Mauritius. In addition, he has a wide exposure in Foundations, Trusts, Corporate and Fund Administration. During his career at renowned firms, he has been extensively involved in assisting both local and international clients on various aspects of Global Business, including entities’ structuring and drafting of legal and other corporate documents, thus imparting him with much experience in the Regulatory and Compliance fields of the Financial Services sector. Besides, Tariq is a registered MQA Law Trainer and apart from devising course outlines and contents, he also provides regular professional training, both in-house and public, to practitioners from the financial services, banking and insurance sectors on various aspects of Compliance-AML/CFT, Trust and Foundation. Read More

FINANCIAL SERVICES

By: Credentia Admin | Date: July 30, 2022

Categories: Service,

FINANCIAL SERVICES

› Legal and tax structuring › Company and trust formation and administration › Limited partnerships › Foundations › Fund and investor services › Investment structuring › Taxation services › Nominee services › Listing and IPOs › Captive insurance services › Intellectual property holdings Read More

Ranjana Gujadhur

By: Credentia Admin | Date: July 30, 2022

Categories: Team,

Ranjana Gujadhur

Ranjana, has over 20 years’ extensive experience in both the Financial Services and the Banking Sectors with an insatiable thirst to learn. There has indeed been and continues to be multiple challenges in an ever-evolving world which has eventually forged her personality and conviction to always unlearn and relearn. Ranjana has experienced a highly gratifying career and she is excited today looking at the next decades as if she was in the beginning of her career. She has successfully managed High Net Worth Individuals at AfrAsia Bank and the Mauritius Commercial Bank. Ranjana has been instrumental in setting the Mauritius office of a reputed Dubai-based boutique wealth firm as Head of Business Development and Strategy and the private client services cluster of a leading financial conglomerate. Her career thus far has taken her to London, New York, India, Dubai and multiple countries in Africa. Ranjana has worked with the Financial Services Commission and the Economic Development Board and other recognised institutions such as the United Nations and the Commonwealth Business Council. An economist with a UK master’s degree in International Relations, Ranjana is a member of the International Compliance Association (ICA) UK, the Mauritius Institute of Directors and The Boardroom Africa. She is currently wrapping up her Certified Compliance Manager at the Global Compliance Institute, Australia and her PhD. She also champions and volunteers for Child Welfare, Animal Protection and Nature Preservation. Buzzwords she swears by are Ethics and Compassion and her favourite leisure is Wall-Art. Read More

OUTSOURCING SERVICES

By: Credentia Admin | Date: July 30, 2022

Categories: Service,

OUTSOURCING SERVICES

› Accounting › Compliance › Information technology › Back-office administration and support Read More

Vishwanathsing (Mike) Purmah

By: Credentia Admin | Date: July 30, 2022

Categories: Team,

Vishwanathsing (Mike) Purmah

Mike is a skilled professional with more than 12 years experience in accounting functions in the offshore sector, including working for KPMG to gaining further expertise in the taxation field. He has been associated mostly with client accounting and tax functions in his professional journey. Mike is an ACCA Member since 2019 and is at present the Corporate Accounts Manager at Credentia International Management Ltd and is mainly associated with client accounting for Investment Dealer Companies being the Special Licences categories. Mike is a bright and promising key member of the Credentia management team and emphasises more on efficiency and quality services being provided to clients. He is passionate about equestrian racing events as he believes that the right move at the right time is the key to maintaining a leading position and winning in both a race and a professional career. Read More

Bowling night

By: Credentia Admin | Date: August 2, 2022

Categories: News event,

Bowling night

EVENTS & NEWS Team building | Bowling night Our Team at Credentia International Management Ltd (“Credentia”) held our team building event at Strick City, Bagatelle …Sharing our gallery of this amazing night with our colleagues. Previous Next Read More

Ashna M. Dhurma-Banarsee

By: Credentia Admin | Date: July 30, 2022

Categories: Team,

Ashna M. Dhurma-Banarsee

Ashna brings nearly two decades of experience in accounting, auditing, global business and financial services to her role as Corporate Accounts Manager in the Special Licences Team at Credentia International Management Ltd. Holder of a BSc (Hons) in Accounting from the Oxford Brookes University in London and nearing completion of her ACCA professional qualification, Ashna possesses significant strategic leadership and business development skills. In her role as Corporate Accounts Manager, she has been applying her expertise and interpersonal skills to oversee the day-to-day accounting and administration of a portfolio of Investment Dealer Clients. A motivated and determined leader with strong managerial and administrative abilities, she believes in strong team dynamics. Ashna is an extremely assertive and organised individual who always knows how to handle tight deadlines. She draws her Zen attitude and critical thinking from her lifelong passion for dancing. She greatly admires this discipline and practices regularly on a professional level. She firmly believes in the philosophy that had a huge impact in her leadership style, “You both win and lose as a Team”. Read More

Credentia & Afrexim bank / Mansa Roadshow

By: Credentia Admin | Date: August 2, 2022

Categories: News event,

Credentia & Afrexim bank / Mansa Roadshow

EVENTS & NEWS Credentia & Afreximbank/Mansa Roadshow COMMUNIQUE In a fast-moving and rapid changing era where accessibility to information has become even more crucial, CREDENTIA and AFREXIMBANK/MANSA had the opportunity to conduct a roadshow in Mauritius during the week of the 22nd to the 26th of August 2022. Afreximbank is the 6th largest bank in the Pan African Region with its headquarters in Cario, Egypt and other branches in Abidjan – Côte d’Ivoire, Harare – Zimbabwe, Abuja – Nigeria, Kampala – Uganda and Yaoundé – Cameroon. Our Chief Executive Officer and Founder, Mr Sharma K. (Sanjeev) Gopaul and the Credentia Team were honored to have with us in Mauritius, Mrs Maureen Mba, Director – Head of the MANSA Digital Initiative, Head of AFREXIMBANK Delegation, Mr Pape Dieye – Mansa Business Executive and Mr Alberto Magaia, Manager Clients Relations (Southern Africa) Harare, Zimbabwe. Mansa & Snr Management Team at Credentia Papa Dieya & Mansa Team African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. The Bank has a rich history of intervening in support of African countries in times of crisis.A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has completed the development of a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2020, the Bank’s total assets and guarantees stood at US$21.5 billion, and its shareholder funds amounted to US$3.4 billion. Afreximbank disbursed more than US$42 billion between 2016 and 2020. The Bank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1) and Fitch (BBB-).The Mauritius roadshow had for the objective to introduce some key players of the Financial Services industry and SME industry as well as other permanent Honourable persons to MANSA’S Repository platform.The platform provides access to customer Know Your Client (KYC) and Compliance Due Diligence (CDD) information. With an easy subscription, companies all around Africa and the Indian Ocean will be able to view and download statutory information from the platform in order to conduct their due diligence procedures for compliances purposes.CREDENTIA and its team have been collating information of companies such as financial institutions and corporates as well as small medium enterprises to create a large database of information accessible to all parties. Today CREDENTIA as already onboarded 5,564 Corporate Profiles and the database is fast growing each week. CREDENTIA’S team is not only looking at Mauritius but also other countries such as the Republic of Seychelles, South Africa, West Africa and other countries such as Madagascar, Les Comores Island and Ils de la Reunion.The Benefits of the MANSA Platform are:Stronger Governance which will promote a Good Governance culture, transparency and accountability by African Entities.Africa-wide Impact to promoting international trade in Africa and through lower costs of compliance for international banks and global trading entities in maintain relationships with African counterparts.Risk Management by reducing the perceived risk of trading in Africa and mitigating negative implication of current Client Due Diligence challenges and high-risk reception of Africa.Trade Promotion by having available information on counterparties will promote intra and extra-African trade and stimulate uptake of new trade avenues and payment systems such as mobile payment platforms. AndSingle Primary Source for KYC Due Diligence Information on African Entities which will reduce the need for different institutions to collect KYC documentation from the same customer multiple times, thus creating efficiencies and saving time. Visit with MCCI Dr Yousouf Ismael, Nishta Surajbali, Mansa & CIML Min of Finanace Hon. Dr Renganaden Padayachy & Maureen Mba At MCCI - Maureen Mba signing visitors book During their stay with CREDENTIA in Mauritius, the AFREXIMBANK/MANSA’s team had the opportunity to meet with various prominent parties such as the Chief Executive Office, Mr Ken Poonoosamy of The Economic Development Board (EDB) and his team Mr Vinay Guddye and Mrs Jaya Doomun-Dookun, Chief Executive, Mr Sunil Benimadhu and Head of Listing, Mr Vickram Ramful of The Stock Exchange of Mauritius (SEM), Chief Executive Officer, Mr Kevin Ramkaloan of Business Mauritius and Secretary General, Dr. Yousouf Ismaël and Economist, Mrs Nishta Surajbali of The Mauritius Chamber of Commerce & Industry (MCCI), Chief Executive Officer, Mr Suryadev Beedasy, Chief Operations Officer, Mr Jeyssen T. Kathapermal and Head of Factoring, Mrs Omeeta Neelayya, of Industrial Finance Corporation of Mauritius (IFCM).Respectfully, we, also had the opportunity to sit down with and have a conversation with  The Honourable Ma​​​h​en Kumar Seeruttun, The Minister of Financial Services & Good Governance and Dr. the Honourable Renganaden Padayachy, The Minister of Finance, Economic Planning & Development and Chief Executive of the Financial Services Commission, Mr Dhanesswurnath Vikash Thakoor and The Honourable Governor, Mr Harvesh K. Seegolam, Mrs Second Deputy Governor, Mrs Semlata Sewraj-Gopal, Mrs Marjorie Heerah-Pampusa, Mr Waësh Khodabacus and Mr Sanjay Ramnarainsing of The Bank of Mauritius about the MANSA platform and the impacts it will have across Africa with their positive support.  All the meetings thus far have been very welcoming, positive and productive.CREDENTIA and AFREXIMBANK/MANSA plan to arrange for a second roadshow in the near future to further develop synergies between the bank and the expansion of the platform and trade in the Pan African region as they was a strong emphasis made on welcoming the idea of having a representative AFREXIMBANK/MANSA office in Mauritius in the not so distant future. Visit to Business Mauritius Visit to Ministry of Financial Services & Good Governance Credentia & Afreximbank Team The services other Services of the bank that were discussed were:Pan-African Payment and Settlement System (PAPSS)Pan-African Payment and Settlement System (PAPSS), observing that the ground-breaking platform will save Africa more than US$5 billion annually in payment transaction costs, while it plays an increasingly significant role in accelerating the continent’s transactions underpinning the operationalisation of the AfCFTA.PAPSS provides the state-of-the-art financial market infrastructure connecting African markets to each other thereby enabling instant cross-border payments in respective local African currencies for cross-border trade. Afreximbank as the main Settlement Agent for PAPSS, provides settlement guarantees on the payment system and overdraft facilities to all settlement agents, in partnership with Africa’s participating Central Banks. PAPSS will effectively eliminate Africa’s financial borders, formalise and integrate Africa’s payment systems and play a major role in facilitating and accelerating the huge AfCFTA-induced growth curve in intra-African trade.”PAPSS provides the solution to the disconnected and fragmented nature of payment and settlement systems that have long impeded intra-African trade. Prior to PAPSS, over 80 per cent of African cross-border payment transactions originating from African banks had to be routed offshore for clearing and settlement using international banking relationships. That posed multiple challenges, ranging from payment delays to operational inefficiencies and compliance concerns for the disparate regional payment systems.PAPSS, which has been successfully piloted in the six countries of the West African Monetary Zone, delivers multiple advantages and efficiencies to intra-African trade payments, including:Reducing the cost, duration and time variability of cross-border payments across Africa;Decreasing the liquidity requirements of commercial banks for cross-border payments; andStrengthening oversight of cross-border payment systems by central banks.PAPSS is also set to deliver harmonisation across the continent through its comprehensive legal, regulatory and operational framework comprising standardised rules, formats and governance arrangements, harmonised Know-Your-Customer and Anti-Money Laundering procedures, payment confirmation and settlement finality. A precondition for participation in PAPSS is compliance with its set rules and standards.Trade & Project FinancingAfreximbank offers a range of financing programmes, solutions and advisory services to support the expansion, diversification, promotion and development of intra- and extra-African trade and trade development projects.Afreximbank’s trade and project financing initiatives positively impacts trade and economic development across the African continent through activities centered on the main strategic pillars of its fifth Strategic plan:Intra-African Trade, which comprises promotion of intra-African trade in manufactures and facilitation of effective participation of African entities in the continent’s extractive industries;Industrialisation and Export Development, combines Credit, Risk Bearing, Twinning and Market Access to support projects geared towards promoting non-commodity export production, especially export manufacturing and services, in line with the objectives of the Bank’s Industrialisation and Export Development Strategy. It also includes Advisory Services and Capacity Building towards establishing the appropriate enabling environment for industrialisation and export development. Trade-Enabling Infrastructure, which supports intra-African trade and industrialisation in Africa; andTrade Finance Leadership, which encompasses support to member countries adversely affected by global shocks.Export DevelopmentUnder its 5th strategic plan (2017-2021), the Bank has identified Industrialisation and Export Development (I&ED) as one of the pillars that would help to deliver on its mandate. The Export Development department therefore supports the I&ED pillar through the following mechanisms:Facilitating and financing Africa’s manufactured exports in particular for agro-processing and light manufacturing sectors;Developing and establishing Industrial Parks and Special Economic Zones across the continent;Addressing Africa’s infrastructure constraints debilitating industrialization and export development;Facilitating and enabling market access of Africa’s manufactured exports; andSupporting export of services (medical services, tourism, etc.).The Export Development department combines Credit, Risk Bearing, Twinning, Market Access to support projects geared towards promoting non-commodity export production, especially export manufacturing and services in-line with the objectives of the IEDS. It also provides Advisory Services and Capacity Building towards establishing the appropriate enabling environment for industrialization and export development on the continent.We share with you all our gallery of photos of our extraordinary week. Sanjeev Gopaul & Vinay Guddye of EDBMaureen Mba, Alberto Magaia & Jeyssen T. Kathapermall - IFCMMaureen Mba & Mins. Mahen SeeruttunVisit with Chief Executive of FSCVisit to IFCMMins. Mahen Seeruttun & Maureen Mba Should you wish to further enquire about MANSA Repository platform, please do not hesitate to contact us at contact@credentiainternational.com Read More

Business Connect

By: Credentia Admin | Date: November 24, 2022

Categories: News event,

Business Connect

EVENTS & NEWS Business Connect Credentia International Management Ltd (“Credentia”) recently featured in a TV program on the local Mauritian channel, MBC. Read More

Poushma Narain

By: Credentia Admin | Date: July 30, 2022

Categories: Team,

Poushma Narain

Holding a Diploma from the Institute of Chartered Secretaries and Administrators (ICSA), Poushma has more than 10 years’ experience in the Global Business field and her skills and exposure have been concentrated on mainly activity licensed companies. Being of a meticulous and precise nature with an honest, ethical and accountable approach, she has excelled by exceeding client expectations and is greatly respected by her peers and clients alike for her dedication and hard work. In her current role at Credentia International Management Ltd, Poushma is the forefront of the Company, focusing on the onboarding and licensing of new entities providing our clients with a taste of the high level of services they will obtain from our team forthgoing. Read More

Our reputational risk is of utmost importance

By: Credentia Admin | Date: November 22, 2022

Categories: Compliance,

Our reputational risk is of utmost importance

COMPLIANCE NEWS Tariq Caramtali, Compliance Expert: “Our reputational risk is of utmost importance” Head of Legal and Compliance in an Offshore Management Company and also a Certified Anti-Money Laundering Specialist (ACAMS), Tariq Caramtali states that Mauritius should be honored to be amongst the few countries which are compliant with all the 40 recommendations of the FATF. “This is definitely a boost to the financial services sector and a comfort to Investors. Mauritius has, through endless initiatives, demonstrated its commitment to combat money laundering and the financing of terrorism and proliferation. In this respect, Mauritius has ratified and acceded to numerous international conventions, protocols, and treaties to express its commitment towards complying with the FATF Recommendations. And today, those initiatives have proved rewarding. International affiliates and banking institutions worldwide would be more at ease to facilitate the flow of funds to and from Mauritius, without the need to undergo enhanced due diligence measures on our country.”He believes that Mauritius has a robust legal framework to fight against money laundering and terrorist financing and proliferation with a view to adhering to the FATF Recommendations. “It was hectic for Mauritius during the last couple of years and the only recommendation which failed the compliance test recently was Recommendation 15 ‘New Technologies’. Now, Recommendation 15 has been upgraded to “Largely Compliant” on the basis of the progress made by Mauritius in addressing the underlying deficiencies.”The Mauritius Financial Services Commission, he explains, as the designated Regulator and Supervisor for virtual asset service providers and issuers of initial token offerings, worked with the Ministry of Financial Services and Good Governance and other stakeholders to come up with the Virtual Assets and Initial Token Offerings (“VAITOS”) Act, which is the regulatory framework to strengthen the oversight and help improve transparency of virtual asset transactions.He adds that other actions taken by the FSC, include: – Issuance of Rules under the VAITOS on Capital and Other Financial Requirements, Client Disclosure, Custody of Client Assets, Cybersecurity, Publication of Advertisements, Risk Management, Statutory Returns and Travel Rule; Issuance of the AML/CFT Guidance Notes for Virtual Asset Service Providers & Issuers of Initial Token Offerings; andEnforcement actions on those who were in non-conformity with the VAITOS Act. Existing Risks Speaking about the existing risks when it comes money laundering and terrorist financing as well as corruption, the Compliance Expert utters that they are always there. “Risks will always exist, but we as the industry experts should be well versed as to how to mitigate those risks. It is to be recognized that Mauritius; even for other renown Jurisdictions, has strengths and weaknesses in its frameworks to combat money laundering and the financing of terrorism and proliferation, as well as corruption. This is why the frameworks, and its functionality should periodically be tested and assessed, with the necessary actions taken accordingly.”He trusts that it is right time that the National Risk Assessment Report be reviewed now, taking into consideration the last ESAAMLG Mutual Evaluation Report, so as to guide the implementation of our actions to strengthen our AML/CFT framework over the next three years.“Our reputational risk is of utmost importance and the industry players should all the time monitor that our system is not being abused by outlawed Clients or Investors. It is up to the Management of each Licensee to take the necessary measures to educate employees through continuous training, mostly on anti-money laundering and combatting terrorist financing and proliferation,” he declares. The role of our monitoring agencies Surely, underlines Tariq Caramtali, the Regulators play an important role in ensuring that their respective Licensees are adhering to the statutory requirements, as well as the international norms as far as Anti-Money Laundering and combatting the Financing of Terrorist activities are concerned. He is of the opinion that now that Mauritius is complying with the 40 FATF Recommendations, the trend should be maintained.“It must be understood that compliance is much more than a simple “tick box” exercise. Now, with the emergence of new technologies, compliance has taken a new step. In my humble opinion, and in the event that the monitoring agencies will not follow the global patterns, Mauritius will be back to square one. But I do appreciate that, for instance, even that we are largely compliant, the effort is still present for the Financial Services Commission as the latter is really taken up in its onsite inspection exercise to ensure that the regulatory requirements are being met by its Licensees. Ongoing workshops and trainings are also being hosted for the benefit of the financial services’ practitioners.”He avers that the compliance of Mauritius with the FATF Recommendations is testimony to Mauritius’ commitment in being a transparent jurisdiction in the global financial services landscape and reaffirms its position as a prominent investment destination. “The FSC is doing its best and will no doubt continue to protect the integrity of the virtual assets eco-system for instance, with a view to uphold the reputation of Mauritius as a robust and credible jurisdiction,” says the Compliance expert. Read More

ENTREPRENEURIAL VISION

By: Credentia Admin | Date: July 30, 2022

Categories: Credentia way,

ENTREPRENEURIAL VISION

We take the time to listen to your story and understand what is important to you as a foundation to establishing a successful relationship. Our entrepreneurial mindset guides us to assist you in understanding the best solutions with the aim to empower you in making fully informed decisions. Read More

FORESIGHT

By: Credentia Admin | Date: July 30, 2022

Categories: Credentia way,

FORESIGHT

We ensure the right solution is the product of proactivity, detailed analysis, resourceful expertise and careful consideration. Our advice is tailored for your entire journey with Credentia International, not just a single activity. Read More

EXCELLENCE

By: Credentia Admin | Date: July 30, 2022

Categories: Credentia way,

EXCELLENCE

We thrive on a culture of excellence in client services, which is demonstrated by being accessible, agile and genuinely helpful. It is important for us to be timely, by delivering information when you need it and how you want it. Read More

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