About the Bank

MauBank is a wholly state-owned bank which started its operations in April 2015. MauBank acquired the assets and some liabilities of now defunct Bramer Banking Corporation, whose banking license was revoked by the Central Bank of Mauritius. Bank accounts and operations of the former Bramer Banking Corporation were transferred to NCB.
The Bank offers a wide choice of financing, deposit and transactional facilities to meet personal and business requirements of the clientele and it has strong capabilities to build solutions around customer needs.

Required Corporate Documents

• Board Resolution authorising account opening
• Global Business Licence (if applicable)
• Certificate of Good Standing (if applicable)
• Certificate of Incorporation
• Memorandum and Articles of Association / Constitution
• Register of Members and Directors
• Background information (Prospectus / Annual Report / Financial Statements)
• Business Plan
• Organogram, showing company’s structure

Required Personal Documents

For Shareholders above 20%, Directors, Beneficial Owners, Ultimate Beneficial Owners and Authorised Signatories:

• ID Card / current valid Passport
• Recent Proof of Address i.e. Recent Utility Bill / Bank or Credit Card Statement
• Bank Reference letter
• CV

Personal Visit

Personal visit is not required.

Initial Deposit

No initial deposit requirement.

Minimum Balance

No minimum balance requirement.

Online Banking

View and transactional internet banking.

Debit and Credit Cards

Bank does not offer any debit/credit cards.

Time Required for Account Opening

10 working days, once all documents received.

Currencies

Accounts are offered in all major currencies.

Bank Fees

Outward Remittances:

• Telegraphic transfers/SWIFT – 0.12 % (min USD 25 , ma
• USD 75) SWIFT charges
• Transfer within the Bank – free of charge

Inward Remittances:

• Telegraphic transfer/SWIFT – free of charge
• Cash deposit – 1% (min USD 20)

Other fees:

• Dorman account – USD 50 (semi-annually)
• Unclaimed account – USD 100 (annually)
• Account closure – USD 25
• Bank reference letter – USD 50