留学生国际商务管理论文

留学生国际商务管理论文

毛里求斯,撒哈拉以南,非洲地区的一部分,是一个政治经济稳定的成熟民主的部分区域贸易领域,如“非洲联盟”、“东部和南部非洲共同市场(COMESA)”,“英联邦的国家”,“印度洋委员会(IOC)”,“法语国家国际组织”,“南部非洲发展共同体(SADC)”。它是一个坐落在印度洋,被认为是在中上收入水平的经济体的独立国家(1968年获得)。它已成为一个主要的国际金融中心。

 

毛里求斯已经实现从一个靠处理单一基础经济作物(甘蔗)作为低收入经济的发展到一个非常多元化的经济体包括管理工业、金融和旅游行业。

 

毛里求斯在现在大多数时期都处于年平均增长率5 - 6%的水平,成为一个人口大约有128.6万人,在2011年其国内生产总值约为11,259,856,300美元这么一个非常强大的混合开放的经济。毛里求斯的GDP增长为4.0%,这一成就主要由于房地产的贡献(0.8%)、制造业(0.6%)、交通(0.5%)和金融中介(0.5%)。在通货膨胀率方面,毛里求斯是相对平缓的,仅仅是一个个位数,估价为6.5%左右。

 

毛里求斯金融部门结构-Structure Of The Mauritian Financial Sector

 

Mauritius, part of the Sub-Saharan Africa region, is a political and financially stable mature democracy which forms part of regional trade areas, such as ‘the African Union’, ‘the Common Market for Eastern and Southern Africa (COMESA)’, ‘the Commonwealth of Nations’, ‘the Indian Ocean Commission (IOC)’, ‘the Organisation Internationale de la Francophonie’, and ‘the Southern African Development Community (SADC)’. It is an independent state (attained in 1968) which is considered amongst the upper middle income economies. Situated in the Indian Ocean, It has emerged as a leading International Financial Centre.

 

Mauritius has made its way from a low-income economy, being one which dealt with the primary sector from a monocrop economy (sugar cane) to achieve a very well diversified economy including the management of the industrial, financial, and tourism sectors.

 

Mauritius has an annual average annual growth rate of 5-6% for most periods and it has now, become a very strong mixed open economy which has an estimated population of around 1.286 million people and its GDP was estimated at USD $11,259,856,300 for the year 2011. GDP growth for Mauritius was estimated at 4.0%, which was achieved due to the contribution of real estate (0.8 percentage point), manufacturing (0.6 percentage point), transport and communications (0.5 percentage point) and financial intermediation (0.5 percentage point). In terms of the rate of inflation, Mauritius was blessed to have a relatively mild one which is only a one digit number, valued at 6.5%.

 

Mauritius also has a relatively good poverty rate which is as low as 8.7% compared to the regional Sub Saharan Regional Average. It is an export oriented economy with the latter amounting to 53% of GDP, that is, around USD 5,900 million for the year 2011.

 

It is the economic success achieved in the 1980s the lead to the rapid growth of the financial services sector in Mauritius. Backed by a profitable banking sector and Stock Exchange, the financial sector continued to grow with the introduction of the Global business sector in 1992.

 

Following that, it was necessary to deal with the legal framework related to these newly introduced products and as such in the early 2000s, the Trust Act 2001, the Financial Intelligence Act and the Anti-Money Laundering Act 2002 emerged. To now enable greater flexibility related to these products, further documentation, namely the Financial Services Act 2007, Guidelines for Islamic Banking 2007 and the Securities Act 2005 amongst others were issued in the late 2000s.

 

Presently, other services have been launched to contribute to its improvement, namely, investment advisory, active fund management, private banking, wealth management and not to forget, equities and derivatives trading exchanges. Together with that, the range of the financial products too, has been enhanced.

 

The Financial Services Sector is bound to remain one of the major pillars of the economy and this is shown by the latest data acquired at the Central Statistical Office of Mauritus which recorded the percentage of the contribution of the financial sector to GDP to be 10% in 2010).

 

毛里求斯金融部门结构-STRUCTURE OF THE MAURITIAN FINANCIAL SECTOR

 

Mauritius’ financial sector is supervised by 2 main organisations, namely the Bank of Mauritius (BOM), responsible for the regulation of banking transactions and the Financial Services Commission (FSC), regulating the non-banking transactions as stated by the S5(1)(b) of the ‘Bank of Mauritius Act 2004’ and by S6(b) of the Financial Services Act 2007. The financial functional Groups and functions are shown in the table below:

 

Functional Groups

 

Functions

 

Banking

 

Retail & Corporate Banking

 

Private Banking & Wealth Management

 

Investment Banking

 

Global Business Banking

 

Islamic Banking

 

Capital Markets

 

Equities Market

 

Commodities Trading Platform

 

Derivatives

 

Listing of Global Business Companies, Specialist Debt Instruments & Global Funds

 

Global Business

 

Investment Holdings

 

Global Managed Funds

 

Fund Administration

 

Fund Management

 

Shariah Compliant Funds

 

Global Asset Management

 

Insurance

 

General Insurance

 

Long term Insurance

 

Captives

 

Reinsurance

 

Takaful & Re-Takaful

 

Other Financial Services

 

Brokerage Houses

 

Accountancy Firms

 

Tax & Investment Advisers

 

International Law Firms

 

Leasing Companies

 

Source: Board of investment

 

银行-BANKING

 

Banking refers to the functions of accepting and safeguarding money of individuals and entities having an excess capital (savers) to then lend it to other individuals and entities who have a need for capital (Borrowers), all with the aim of making a profit. The banking sector has contributed approximately 6% of GDP on average over the last few years. In 2004, banking was divided into two distinct categories, namely, the domestic banking and the Global Business Banking which will be individually discussed further in this paper, but first we will have a look at its regulator, the Bank of Mauritius (BOM).

 

银行毛里求斯(BOM)-Bank Of Mauritius (BOM)

 

The Bank of Mauritius (BOM), incepted in September 1967 as the Central Bank of the country, is a member of the Offshore Group of Banking Supervisors (OGBS) and the Eastern and Southern Africa Banking Supervisors Group (ESAF). Apart from the formulation and execution of monetary policy and foreign exchange controls, it has the duty to safeguard part of the financial system of Mauritius. The main functions of the BOM are:

 

Formulation and implementation of monetary policy

 

Issuer of currency

 

Banker to the Government and to banks

 

Provider of an efficient payment, settlement and clearing system

 

Management of the public debt

 

Management of foreign exchange reserves

 

Regulator and supervisor of banks

 

Adviser to the Government on financial matters.

 

国内银行-Domestic Banks

 

The start of commercial banking in Mauritius can be traced back to the year 1812. It started with the main aim of bridging the gap between the individuals with an excess capital and those with a lack of capital, with a profit making aim in mind, but then, with time, it evolved to providing other services such as debit and credit cards, safe custody of valuable items, lockers, ATM services and worldwide online transfer of funds. The bank of Mauritius gave license to 20 banks to operate and these are listed below:

 

The Mauritius Commercial Bank Ltd

 

State Bank of Mauritius Ltd

 

Barclays Bank PLC

 

Bank of Baroda#p#分页标题#e#

 

Bramer Banking Corporation Ltd

 

Habib Bank Limited

 

Bank One Limited

 

Banque des Mascareignes Ltée

 

Investec Bank (Mauritius) Limited

 

SBI (Mauritius) Ltd

 

Standard Bank (Mauritius) Limited

 

Deutsche Bank (Mauritius) Limited

 

HSBC Bank (Mauritius) Limited

 

P.T Bank Internasional Indonesia

 

AfrAsia Bank Limited

 

ABC Banking Corporation Ltd

 

Century Banking Corporation Ltd

 

The Hongkong and Shanghai Banking Corporation Ltd

 

Standard Chartered Bank (Mauritius) Limited

 

Mauritius Post and Cooperative Bank Ltd

 

Source

 

全球商业银行-Global Business Banks

 

资本市场-Capital Market

 

The Capital Markets in Mauritius is one of the most dynamic sectors of the economy. They are financial markets involved in the trading of long-term debt/equity backed securities. The Securities act was established to deal with their regulations. The FSC has licensed, till now (2013), two securities exchanges, namely the Stock Exchange of Mauritius Ltd (SEM) and the Global Board of Trade Ltd (GBOT).

 

扫描电镜-SEM

 

The Stock Exchange of Mauritius Ltd (SEM), set up in March 1989 following the enactment of the Stock Exchange Act 1988, provides additional private and corporate savings to finance the increased investment needs of the economy. It has as function to cater for the efficient operation of the securities market in Mauritius. It attained membership in the World Federation of Exchanges (WFE) in 2005 which has significantly contributed to the fact that it is now (2013) one of the leading Exchanges in Africa. Also, it has started to go live on Bloomberg index in 2009. Its calculation is made through the SEMDEX which records market capitalization based on each listed stock which is weighed in relation to the shares present in the total market. The SEM is the first exchange in Africa to list, trade and settle equity, funds and debt products in USD, Euro and GBP. The SEM operates two distinct markets, namely, the Official Market and the Development & Enterprise Market (DEM)

 

官方市场-OFFICIAL MARKET

 

The Official Market started its operations in 1989 with five listed companies and a market capitalisation of nearly USD 92 million. Currently, there are 42 companies listed on the Official Market representing a market capitalisation of nearly US$ 6 billion as at 31 January 2013.

 

开发和企业市场(民主党)-THE DEVELOPMENT AND ENTERPRISE MARKET (DEM)

 

The DEM was established in August 2006 with the aim of allowing medium sized and small companies which have a good potential to grow in the future to be able to raise capital by means of a better organized and regulated body. Despite not qualifying for the listing rules of the official market, the DEM makes it possible for the companies’ shares to be more liquid and for the company to have a better overall corporate reputation. Today, in 2013, the DEM comprises of 47 companies listed with a market capitalization of approximately US$ 1.5 billion (31st January 2013).

 

全球业务-GLOBAL BUSINESS

 

Global business consists of transactions that are devised and carried out across national borders to satisfy the objectives of individuals, companies, and organizations. It all started with the Mauritius Offshore Business Activities Authority (MOBAA) which was set up in 1992.

 

The main activities back then, were to deal with offshore funds management, international financial services, offshore insurance, international consultancy services, international licensing and franchising, aircraft financing and leasing, international trading and assets management, offshore pension funds and international employment services. The FSC has recorded around 25,000 global business companies and approximately 750 global funds as at December 2010 which is continuing to rise, contributing on average to approximately 3% of GDP.

 

As such Mauritius facilitates the management of mutual funds, investment funds, investment holding, trusts, alternative and expert funds, private equity vehicles, aircraft and ship registration and other special purpose vehicles. To help the good administration, 2 structures were set up, namely the Global Business Category1 (GBC1) used for double tax avoidance and the Global Business Category 2 (GBC2), mostly used for asset holding purposes.