International Banking Division

Mauritius has a wide network of double taxation treaties with emerging economies in Africa and Asia. These treaties offer attractive opportunities for offshore companies and international and limited life companies which are incorporated in Mauritius. These companies may operate administrative headquarters, re-invoicing centres, trading offices or even distribution outlets within the vibrant Mauritius Freeport.

Our International Banking Division caters for the banking needs of non-residents who have economic interests outside Mauritius. The customer profile includes, amongst others, high net worth individuals, foreign institutional investors, offshore trusts, investment funds, venture capital funds and mutual funds. Barclays in Mauritius also offers cash custody services tailored to meet the needs of fund managers in this respect.

The major products and services we offer include:

Accounts in major currencies

We shall be pleased to offer to you accounts in major currencies, which means that we would automatically credit any amount received in a specific currency in that same currency.

We shall be pleased to provide you with an account in the following currencies: USD, EURO, CHF, GBP, AUD, JPY, CAD, and ZAR. As and when required, we shall be happy to assist you for any account in other exotic currencies through our network worldwide.

Currency Advisory Services

On the basis of in-house forecasts and analysis as well as day-to-day market developments, we would be pleased to discuss with you and/or suggest to you the currency evolutions, as may be anticipated by the market in conjunction with the underlying economic fundamentals. The final decision for the currency strategy would, of course, rest with you.

Subsequent to this, we would be most prepared to execute on your behalf any instructions for a better monitoring of your currency profile.

International Money Payments

Inward Payments

Any amount received by us for your account shall be credited free of any charges, whatsoever.

Outward Payments

We shall be happy to execute on your behalf payments from your account with one day value notice (i.e your payments instructions should reach us 24 hours prior to the value date of the payment itself) on all currencies, other than USD, GBP and EURO, whereby same day value will be applied, however, with a cut-off time being 13h00 local time.

A payment commission of 0.15% ad-valorem, minimum USD 20.00/maximum USD 65.00, (plus SWIFT charges of USD 20.00) shall be applied to each payment order.

According to normal banking practice, overseas banking charges in respect of customer transfers are for beneficiary’s account. Thus, if you wish that the beneficiary receives funds net of any overseas bank charges, these charges shall be for your account.

Multi-Currency Cheque book

In order to enable you to have an instant mode of settlement, we shall be pleased to put at your disposal a multi-currency cheque book. A clearing commission of 0.15% ad-valorem, minimum USD 20.00/maximum USD 65.00 (plus USD 20.00 Swift charges) will be applied to each cheque drawn by you and presented at our counters for payment.

Interest on Fixed Deposit

The underlying interest rate to be applied to Fixed Deposit will be indexed on the LIBID rate (London Interbank rate on Deposits). The deposit periods will be those generally available on the Euro-Market, ranging from 1 week to 360 days. For better monitoring of your Fixed Deposit, instructions for renewal and/or modifications should reach us 2 working days prior to the maturity date of the Fixed Deposit, otherwise, existing Fixed Deposit will be renewed automatically.

Foreign Exchange and Derivatives Transactions

These transactions would include all currencies tradable on major Foreign Exchange Markets. Quotes would be on an all-in basis. Moreover, we shall be happy to discuss with you of our services in respect of Derivatives Transactions, so as to assist you in a better hedging of your loan portfolio and any cash flow mismatch.

Investments in International Securities

Should you so wish, we shall undertake on you behalf purchases and sales on international securities via our network worldwide. We shall be pleased to discuss with you, according to your requirements, to set up short, medium and long term investment strategies and financial instruments for a better monitoring of your investments.

Investments in Barclays International Funds (Sicavs)

We shall be happy to set up with you an investment portfolio in Barclays International Funds (Sicavs), namely Equities, Bonds or Cash investment-orientated Funds. For more information on these International Funds, please feel free to ask for our brochure relating to these investment products or visit Barclays Bank’s web site, addresse as follows: www.bif.barclays.com

Structured Investments

In view of obtaining better returns on your deposits, we shall be happy to discuss with you the setting up of short, medium and long term principal guaranteed structured deposits, whereby the remuneration is linked to the performance of an international stock market index/indices.

Securities Services

We shall be pleased to offer to you Cash Custody services for Investment Funds, targetting the Indian Ocean Rim, African, South East Asian countries as well as India and China.

Credit Facilities

We shall be most prepared to discuss with you any financial assistance you may require on a short and medium term basis for working capital and asset purchases, as well as long term credit structured finance in all major currencies.

International Trade Instruments

It will be our pleasure to offer to you facilities to accommodate issuance of Letters of Credit, Guarantees (Tender, Performance Bond, Advance Payment Guarantee etc...), Indemnities as well as Bill discounting and negotiation of Documentary Collections.

US Dollar and EURO Deferred Debit Cards

Should you so wish, we shall be pleased to put at your disposal Corporate and Personal Deferred Debit  Cards (equivalent of a credit card) based in US Dollar or EURO, offering worldwide payment facility, instant cash, automatic billing and complementary benefits, international Helpline, seven day a week service, and up to USD 5,000 or EUR 5,000 emergency cash.

Internet Banking for Corporate Customers

We offer Internet Banking to our Corporate customers with facilities such as account viewing and online transfers.  We use the latest encryption technology and a system of token security with dynamic password which makes our online system very secure.

The site can be accessed at www.integrator.barclays.com

For more information, please email us at lindsay.antonio@barclays.com

 

Yashod Umanee                                  Tel:      +230 207 1963
Managing Director                              Cell:     +230 727 5078
                                             E-mail:yashodaren.umanee@barclays.com

Robin Appadoo                                   Tel:      +230 207 19 75
Head of Corporate Clients                  Cell:     +230 498 70 21
                                              E-mail: robin.appadoo@barclays.com

           
Francoise Chan                                   Tel:      +230 207 19 71
Head of KBI                                         Cell:     +230 498 70 28
                                               E-mail: francoise.chan@barclays.com

                
Vickram-Singh Ramdaursingh                        Tel:      +230 213 61 48
Head of Private Clients                       Cell:     +230 421 72 39
                                               E-mail: vikram-singh.ramdaursingh@barclays.com


Securities Services
Augustine Kwakye-Agyekum              Tel:      +230 403 05 21
Senior Manager                                   Cell:     +230 498 7031
                                               E-mail: augustine.kwakye-agyekum@barclays.com


International Banking Division            Tel       +230 207 19 60
6th Floor, Harbour Front Building        Fax:     +230 208 40 95
President John Kennedy Street                     
Port Louis, Mauritius

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