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BOM revokes licence of Island Premier Foreign Exchange

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BOM revokes licence of Island Premier Foreign Exchange

Under the powers conferred upon it by section 17(1)(b) of the Banking Act, the Bank of Mauritius has, with effect from 4 October 2018, revoked the Foreign Exchange Dealer Licence granted to Island Premier Foreign Exchange Ltd.

On 17 December 2009, Island Premier Traders FX Ltd was granted a Foreign Exchange Dealer Licence under section 14 (5) of the Banking Act 2004 (Act) to carry on the business of foreign exchange dealer in Mauritius. Island Premier Traders FX Ltd applied for and was, on 7 August 2013, granted approval for the company to change its name from Island Premier Traders FX Ltd to Island Premier Foreign Exchange Ltd. A new licence was granted to Island Premier Foreign Exchange Ltd on 4 September 2014.

The company is no longer authorised to carry on the business of foreign exchange dealer as from 4 October 2018.

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