CODE OF Ethics and of Banking Practice

M AURITIUS B ANKERS ASSOCIATION

2013 EDITION

CODE OF

Ethics and of Banking Practice

CODE OF

Ethics and OF

Banking Practice

MEMBERS

1. ABCBankingCorporationLtd

2. AfrAsiaBankLimited

3. BankofBaroda

4. BankOneLimited

5. BanquedesMascareignesLtée

6. BanyanTreeBankLimited

7. BarclaysBankPLC

8. BramerBankingCorporationLtd

9. CenturyBankingCorporationLtd

10. DeutscheBank(Mauritius)Limited

11. HabibBankLimited

12. HSBCBank(Mauritius)Limited

13. InvestecBank(Mauritius)Limited

14. MauritiusPostandCooperativeBankLtd

15. P.TBankInternasionalIndonesia

16. SBI(Mauritius)Ltd

17. StandardBank(Mauritius)Limited

18. StandardCharteredBank(Mauritius)Limited

19. StateBankofMauritiusLtd

20. TheHongkongandShanghaiBankingCorporationLimited

21.TheMauritiusCommercialBankLtd

PreambleA. CodeofEthics1. Introduction2. OurCoreValues 2.1 OurCommitmentstoCustomers 2.2 HonestyandIntegrity 2.3 CustomerConfidentiality 2.4 FairandEquitableTreatmentofCustomers 2.5 Transparency 2.6 AcceptanceofGifts 2.7 CorporateGovernance

B. CodeofBankingPractice1. Introduction2. OurkeyCommitmentstoyou3. YourResponsibilities4. Choosingtherightproductsandservicesthatmeetyourneeds5. TermsandConditions6. Fees,ChargesandInterestrates7. CustomerInformation8. AdvertisingandMarketing9. ProvisionofCredit10. Runningyouraccount11. InactiveAccounts,AbandonedFundsandUnclaimedDemandDrafts12. ForeignExchangeServicesandCross-BorderPayments13. CardsandPersonalIdentificationNumbers(PINs)14. InternetandotherRemoteBankingFacilities15. LiabilityforLosses16. ReasonableCare17. FinancialDifficulties18. ComplaintsandComplaintsProcedures19. CourtOrders20. BusinessContinuity

CONTENTS

MBA CODE OF ETHICS AND OF BANKING PRACTICE �

MBA CODE OF ETHICS AND OF BANKING PRACTICE

� MBA CODE OF ETHICS AND OF BANKING PRACTICE

PREAMBLE

TheCodeofBankingPracticeseekstofostergoodbankingpracticesandenhancequalitativerelationshipandcommunicationbetweenbanksandcustomers.ThegoverningprinciplesoftheCodealsoensurethatbankswillactfairlyandreasonablyinalltheirdealingswithcustomers.

TheMauritiusBankersAssociationLimited(MBA)publisheditsfirstCodeofBankingPracticeinJanuary2007.InJanuary2010,afullreviewoftheCodewasundertakentotakeintoaccountchangesinlegislationandotherregulations.Periodicreviewshavealsobeendoneasandwhenthere have been new requirements by law or through new Guidelines issued by the Bank ofMauritius.Afurtherreviewisnowdueandthe2013editionincludesaCodeofEthicsaswell.

TheCodeofEthics setsoutacommonsetofuniversallyacclaimedprinciplespertinent toallbanks,overandabovethosethattheysubscribetoaspartoftheirinternalCodeofEthics,withaviewtofurtherdevelopthecommitmentofthebankingindustrytowardsitscustomersandthecommunityatlargethroughbestethicalstandardsandwiththeaimofcontinuingtoimprovebank-customerrelationship.

BothCodeshavebeen incorporated in thepresent booklet.PartAcontains theMBACodeofEthicswhilePartBcontainstheMBACodeofBankingPractice.

In the textof theseCodes“You”means theCustomerand“We”,“Our”and“Us” refer to thecustomer’sbank.AlistofdefinitionsofcertainwordsandphrasesusedintheCodesareprovidedintheglossary.

WhiletheCodessetoutourcommitmentsandresponsibilitiestoyou,itisworthnotingthat,noneoftheirprovisions:

• Willaffectyourstatutoryrights;

• WillbelegallybindinginanyCourtoflaw;

• Willconstituteanimpliedtermofyourcontractwiththebank;

• Maybeusedasanaidtointerpretationorinanywaytoinfluencetheinterpretation oflegalrelationshipbetweenyouandyourbank;or

• Willgiverisetoatradecustomortacitcontractorotherwisebetweenyouandyour bank.

Copiesof theCodes are available from theMauritiusBankersAssociationLimited andbanksindividually.You can also view the Codes on the Mauritius BankersAssociation’s website atwww.mba.muoronyourbank’swebsite.

TheCodeswillbereviewedeverythreeyearsorsooner,ifsorequiredandwillbeoperativeasfrom1March2013.


A. CODEOFETHICS

1. INTRODUCTION

Strongethicsarethecornerstoneofthebankingindustryandculture.Whileteamworkandinnovationplayanimportantrole in thebankingindustry’sgrowthandfuture,preservinganethicalworkplaceiscriticaltoourlongtermsuccess.

The aim of this Code of Ethics is to ensure that, in our business management, inourdealingswitheachotherandinourprovisionofservices,weconductourselvesinafairandethicalmanner,mindfulofyour interest. ThisCodeisalso toensurethatwestrengthentheconfidenceofcustomers,businessesandcitizensasawholeinbanksandpromotecooperationwithinthebankingcommunity.Furthermore,thisCodeseekstoenhanceasoundandprofessionalrelationshipbetweenbanksandtheircustomers,bankemployeeswiththeiremployersandvice-versa.

“The focus of ethics ... is how to live a human life among human beings, and live it well.”(By Fernando Savater, Spanish Writer and Philosopher)

2. OURCOREVALUES

2.1 OurCommitmentstoCustomers

We will assume every commitment which is an essential component for meetingyour requirements and expectations. In this regard, we will continuously strive toimprovethelevelofservicebeingofferedtoyou,whichincludetheintegrationofnewtechnology,andtheemploymentofqualifiedanddedicatedstaff.Weshallascertainthatouremployeesareproperlytrainedandpossesstherequisiteknowledge,competenciesandsenseofresponsibilitytodeliveraqualitativeserviceinservingyou.

Customercomplaintsarisingfromtheproductsorservicesofferedwillberespondedtoinasystematicandeffectivemanner.Causesforcustomercomplaintswillbeinvestigatedand appropriate measures implemented to prevent the repetition of fair complaints.Wherethecasesorequires,ouremployeesshallbeappropriatelyinstructedandguided,thusensuringthenon-repetitionofwrongpracticesbytheemployees.


2.2 HonestyandIntegrity

Weshallconductbusinesswithhonestyandthehighestethicalstandards.Customerscantrustthatweshalltreatthemwiththeutmosthonestyandsincerity.Employeescanalsorestassuredtheywillbetreatedwithrespectanddignity. Ouremployeesshould avoid conflicts between their personal interests and their employers’ orclients’ interests,namelybywillinglydisclosinganypotential conflictingbusinessrelationship.Theywillappriseandreporttoseniormanagementand/ortotherelevantauthorities,aboutanydubiousorunlawfultransaction,inordertoupholdtheintegrityofthebankingsectoringeneral.

2.� CustomerConfidentiality

We believe confidentiality is one of the most eminent features which distinguishthe relationship between a banker and a customer. We will keep and safeguardyour confidential informationwithdue care andwill not disclose any confidentialinformationtothirdparties,unlesswehaveyourwrittenconsentorarerequiredtodosobylaw.Moreover,wefollowallapplicablelawsdirectedtowardsprivacyandinformationsecurity.

As such, we have registered, our institutions as data controllers following theproclamationoftheDataProtectionAct.Wearecommittedtoadheretoallregulationsset out in thatAct and in the BankingAct as regards to information held on ourcustomers.

Ifwemakeuseof the servicesof a thirdparty forproviding support services,wewill request him to handle your personal information with the same degree ofconfidentialityandsecurityaswewould.

Ifweareasked togiveabanker’s referenceaboutyou,wewillneedyourwrittenpermissionbeforewegiveit.

2.� FairandEquitableTreatmentofCustomers

We are committed to a fair, equitable an impartial treatment to you. We will becourteousandconsideratetowardsyouintheexecutionofourduties.Whileadheringtogenerallyacceptedprinciplesofhonestyandintegrity,wewillbefair-mindedinapproachandbehaviour,bothinourdaytodaydealingsandoursocialinteractions.


2.� Transparency

We,however, subscribe to transparencyas regardsourbankingbusiness. Wewillprovide you with relevant information relating to features of the products we areoffering,notably the risksassociatedwith suchproducts, aswell as the rightsandresponsibilitieswhichtheseproductsentail.Theinformationprovidedwillbeclearlyunderstandableandwewill,tothebestofourability,clarifymisconceptionsandanyqueriesreceivedfromyou.Moreover,anychangeintermsandconditionsrelatingtocreditfacilitiesbeingprovidedwillbecommunicatedtoyou.Fees,chargesandindicativeinterestrateswithrespecttoallproductsandservicesaredisplayedinthepublicpartofbankbranchesandarealsopostedontheirrespectivewebsites.

2.� AcceptanceofGifts

Theworld’scultureshaverichanddiversecustomsregardingthegivingandreceivingofgifts.However,weasbankerstaketheviewthatgivingoracceptingagiftmayappeartocreateanobligationandweavoid,asarule,givingoracceptinggifts,favorsor gratuities in connection with official duties. When this is unavoidable, we areextremelycarefulnottogiveoracceptgiftsofvaluethatmightconstitutearealorapparentattempttoinfluenceourdecisionsoractions.Wehavealladoptedasetofrulesgoverningacceptanceandgivingofgifts,itformspartofourinternalpolicyandallemployeesarecalledupontorefertothatinternalpolicyandtoactaccordingly.

2.� CorporateGovernance

Asoundcorporategovernanceframeworkisaprerequisitefortheeffectivefunctioningofbanks.WeadheretotheunderlyingprinciplesrelatingtocorporategovernanceinlinewiththeCodeofCorporateGovernanceforMauritiusandtheBankofMauritiusGuidelinesrelatingtothesubjectmatter,giventheincreasingimportanceofthematterinthesphereofbankingandfinance.


B. CODEOFBANKINGPRACTICE

1. INTRODUCTION

TheCodeofBankingPractice is avoluntary code of conductwhich sets out thestandardsofgoodbankingpracticethatweasbanksshouldobserveinourdealingswithcustomersandpotentialcustomers.Wewanttoestablishagoodrelationshipwithyouandalsopromotegoodbankingpracticebyformalisingstandardsofdisclosureandconductwhichwewillobservewhendealingwithyou.WecommitourselvestomaintaintherelevantstandardsoffairnesssetoutinthisCode.

IndividualcustomersshouldfindtheCodehelpfulinunderstandinghoweverybankisexpectedtobehavetowardsthem.

The Banking Act provides for the appointment of an Ombudsperson for Banks.As at the date of publication of this Code the Ombudsperson has not yet beenappointed. However, when the Ombudsperson is appointed, we will be preparedtosubmitourselves to the jurisdictionof theOmbudspersonforBanks tomediate,tomakebindingdeterminationsbasedon the law,whereappropriate,and tomakerecommendationsinothercircumstancesincludingthosebasedonequity.

We will comply with all applicable legislation, codes, rules and supervisoryrequirements, specifically those relating tobanking,market conduct andconsumerprotection.

2. OURKEYCOMMITMENTSTOYOU

2.1 WepromisethatwewillactfairlyandreasonablyinallourdealingswithyoubymeetingallthecommitmentsandstandardsinthisCode.Wewill:

• ensurethatclearinformationisavailableinrespectofallourservices andproducts;

• ensurethatouradvertisingandpromotionalliteratureisclearandnot misleading;

• assistyoutochooseaserviceorproductappropriatetoyourneedsand understandthebasicfinancialimplicationsoftheproductsorservices youchoose;


• assistyoutounderstandhowyouraccountworks;

• helpyoumonitoryouraccountbysendingyouregularstatements (whereappropriate)andkeepyouinformedaboutchangestotheinterest rates,charges,termsandconditionsthatmayapplytoyouraccountwithus;

• providereliablebankingandpaymentsystemsservicesandtake reasonablecaretomaketheseservicessafeandsecure;

• makeeveryeffortsothatyourrecordsarekeptaccuratelyandup-to-date;

• ensurethattheproductsandservicesweoffer,andmoreparticularly ourlendingcriteria,arebasedsolelyoncommercialprinciplesanddo notdiscriminateagainstyouonanybasisnotpermittedbylaw;

• notunfairlydiscriminateagainstyouonthegroundofmaritalstatus, gender,ageorraceinprovidingyouwithbankingservices;

• takereasonablemeasurestoattendtothephysicalneedsofpersonswith disabilities;

• publicisethisCode,havecopiesavailableandmakesurethatourstaff aretrainedtoputitintopractice;

• treatallyourpersonalinformationasprivateandconfidential;

• considereachcaseoffinancialdifficultyonitsmeritsandactquickly andeffectively;

• informyouaboutourcomplaintsproceduressothatyourcomplaintsare handledexpeditiously;

• generallyactonyourwritteninstructionsonlyafteryoursignaturehas beenverifiedandonlyactinaccordancewithotherformsofinstructions inexceptionalcircumstancesorwherethenatureoftheprocesssodictates, forexampleATM,internetoranyotherformofelectronicbankingand

‘otherremotebankingfacilities’;

• exceptwherethisisnotpossible,giveyouoneclearworkingday’s noticeofanychangeinournormalbusinesshoursandinformyou wheneverweproposetotransactbusinessonapublicorbankholiday; and

• makeavailabletoyouinformationonrelevantfeesandchargesforthe servicesandproductsthatyouhavechosenorareenquiringabout.

10 MBA CODE OF ETHICS AND OF BANKING PRACTICE

2.2 Ifyouwishtomakeacomplaint,youmayreferittotheappropriateofficerandhewillprovideyouwithapromptreply.

2.3 Shouldyounotbesatisfiedwiththereply,weshalldoourbesttoresolvethemattertoyoursatisfaction.

2.4 YoumayalsowishtotakethematterupwiththeBankofMauritius.

�. YOURRESPONSIBILITIES

While we are committed to ensure our fair and reasonable dealings with you, wealsoexpectthat,tosafeguardyourowninterest,youassumecertainresponsibilitiestowardsyourbank.Itisinourviewyourresponsibilityto:

• assistusinperformingourlegalobligationswithregardtoperforming certainidentificationandverificationproceduresaboutyoutoensurethat ourrelationshipcanlawfullybeestablishedorcontinued;

• readandunderstandthesetofgeneralandspecifictermsandconditions oftheproductsandservicesofferedbyus,althoughwewilltakeall reasonablestepstoadviseandinformyouofthesetermsandconditions;

• discloseallrelevantinformationaspartofanycreditapplicationtousso thatwemaymakeaninformeddecisiontograntcredittoyou;

• ensurethatyoudonotsubscribetoobligationsorcommityourselfbeyond yourfinancialmeans;

• adviseusassoonaspossibleintheeventyourunintodifficultyin meetingyourfinancialobligationstowardsus;

• wherecreditisgrantedtoyou,consider,afterseekinglegaladviceif necessary,whethersufficientcreditinsurancecoverisinplacetoprotect youand/oryourfamilyinthecaseoflosingyourregularincome(e.g. lossofemployment,disability,ordeath);

• promptlyinformusofanychangeinyourcontactdetailssuchasname, address,phonenumberorinyourfinancialaffairsasandwhenthisoccurs;

• checkandverifyalltheentriesincludedinstatementssenttoyoufor correctness,andinformusimmediatelyintheeventthatyoudonot agreewithanyentryoritem;

MBA CODE OF ETHICS AND OF BANKING PRACTICE 11

• protectyourcardandPINwhichisacrucialsecuritymeasureandnever discloseyourPIN,orotheruniquemeansofpersonalidentificationto anyone,includinganemployeeofthebank;

• enableustotakethenecessarymeasurestopreventorlimitfraudor theftonyouraccountandinformusassoonaspossiblewhenyoudiscover anyunauthorisedactivitiesonyouraccount;

• takenoteofanycautionarynoticeswhenmakinguseofourATMservices thatmaybeplacedatATMsforyourprotection,andexerciseduecaution accordingly;

• familiariseyourselfwiththecircumstancesunderwhichyoumaybe responsibleforanylossessufferedbyyouasaresultoffraud,theft,or whereyouactedwithoutreasonablecare;

• understandthattobindyourselfasaguarantorforanotherperson’sdebt isariskydecisionandkeepinmindthatyouareeffectivelyundertaking totakeontheresponsibilitiesofthatotherpersonintheeventthat hedoesnothonourhisresponsibilitiesinaccordancewithtermsand conditionsagreedtobetweenthatpersonandthebank,sothatyoumay wishtotakeindependentlegaladvicebeforeagreeingtobeaguarantor; and

• takereasonablestepswhenmakinguseofinternet,telephoneormobile bankingchannelstopreventfraud,theft,ortheunauthoriseduseofyour accountorpersonalinformation.

�. CHOOSING THE RIGHT PRODUCTS AND SERVICES THATMEETYOURNEEDS

4.1 Beforeyoubecomeaprospectivecustomer,wewill:

• giveclearandappropriateinformationexplainingthekeyfeaturesof theservicesandproductsyoutellusyouareinterestedin,includingany fees,chargesand/orcommissionsapplicablethereon;

• giveclearandappropriateinformationonthedifferenttypesofproducts andaccountsavailablefromustoassistyouinmakinganinformedchoice appropriatetoyourneeds;

• saywhatinformationweneedfromyoutoascertainandkeepagood recordofyouridentity(bylaw,wearerequiredtodosoforthepurpose


ofprotectingourcustomers,membersofthepublicandourselves againstfraudandothermisuseofthebankingsystem);

• indicaterecommendedsafetymeasuresandtipsonourservicesand productsinwhichyouexpressaninterest;and

• saywhetherweofferproductsandservicesthroughdifferentmodes(for example,ontheinternet,inbranchesorotherremotebankingfacilities’) andhowtofindoutmoreaboutthem.

4.2 Any informationprovided with respect to products or services shall unlessotherwisespecified,bedeemedtobeaguidelineonlydesignedtoassistyouinmakingyourowndecisions.

4.3 Wewill continuously strive to improveourbasicbanking services throughproductinnovation.

�. TERMSANDCONDITIONS

5.1 Wewillprovideyouwithallrelevanttermsandconditionsfortheproductsorservicesyouhaverequested,whenyouapplytobecomeacustomeroracceptaproductoraserviceforthefirsttime.

5.2 Allwrittentermsandconditionswillbereasonableandwillclearlysetoutyourrightsandresponsibilitiesinrespectofaproductorserviceinplainlanguage.Wewilluse legalor technical languageonlywherenecessary.Where legalortechnicallanguageisused,furtherexplanationsandclarificationsshallbemadeavailabletoyouasandwhenyoushallsorequest.

5.3 Whenyoubecomeacustomer,wewillinformyouastothemodebywhichyouwillbeapprisedaboutchangestothosetermsandconditionswhichweareentitledbylawtomodify.Thiswillnormallybethroughdirectcommunicationtoyou,byadviceondisplay inbranchesorATMsoronourwebsiteorbystatements in themediabefore the changes are implemented.Wewill giveyoureasonablenotice,whichinnormalcircumstancesshallbenotlessthan30daysbeforeanychangetakeseffect,sothatyouwillhavetimetodecidewhetheryouwanttocontinuewiththeproductorservice.

5.4 Where there are significant changes to the terms and conditions in a 12months’period thatwarrant it,wewillonrequest,makeavailable toyouasingledocumentprovidingaconsolidationofthevariationsmadetothetermsandconditionsoverthatperiod.

MBA CODE OF ETHICS AND OF BANKING PRACTICE 1�

5.5 Wewillinformyouofanyminimumaccountbalancerequirementsattheonsetof the banker-customer relationship and the charges payable if the accountbalancefallsbelowtheprescribedminimum.

5.6 Undernormalcircumstances,wewillnotcloseyouraccountwithoutgivingyoureasonablewrittennotice,which, inanycase,shallnotbe less than30days,atthelastaddressyougaveus.

5.7 However, we reserve the right, to protect our interest, to take such othermeasures as we consider appropriate including summarily closing youraccountforthefollowingreasons,i.e.where:

• wearecompelledbylawtodoso;

• youraccountisbeingoftenkeptinanunsatisfactorymanner;

• youhaveoftennotfulfilledyourresponsibilities;

• youusethreateningorabusivebehaviourtowardsanyemployee;

• wehavereasontobelievethatyouraccountisbeingusedforfraudulent orillegalpurposes;and

• thereoccursanyothercircumstanceswhichallowsusnootheralternative.

�. FEES,CHARGESANDINTERESTRATES

6.1 Wewillmakeavailabletoyoutheratesofourfeesandcharges,ifany,payableinconnectionwiththeoperationofyouraccount.Youshallbeinformedofourpublishedtariffscoveringbasicaccountservices,atthetimetheaccountisopenedandtheywillbesubsequentlycommunicatedtoyouatanytimeonreasonablerequest.

6.2 Theratesofthefeesandchargeswithrespecttoallourproductsandserviceswill be conspicuously displayed in the public part of our branches andwillalsobepostedonourwebsites. Detailsofanychanges to theratesofthose fees and chargeswill begiven, in a timelymanner,which innormalcircumstancesshallbenotlessthan30daysbeforethechangestakeeffect,bydirectcommunicationtoyouorbyadviceondisplayinbranchesoronourwebsiteorbystatementsinthemedia.

6.3 We will inform you of the nature and amount of charges debited to youraccount,includinginactiveaccounts.

1� MBA CODE OF ETHICS AND OF BANKING PRACTICE

6.4 Wewillinformyouoftheinterestratesapplicabletoyouraccount.Wewill,onrequest,provideyouwithinformationrelativetothemannerinwhichinterestiscalculatedandwhenitwillbechargedtoyouraccount.Thesewillincludetheratesapplicableandanyotherapplicablefees/chargeswhenyouraccountisoverdrawnwithoutprioragreementorexceedstheagreedborrowinglimit.

6.5 Where our advertisements and public notice refer to specific interest rates,we will wherever applicable, include the added information relating to theAnnualEffectiveRate(AER)ortheAnnualPercentageRate(APR)whichisequivalenttotherelevantinterestrate.

6.6 IncalculatingtheAER(applicabletodepositaccounts)ortheAPR(applicabletoloan/creditproducts),wewillconverttheinterestpaidonthedepositaccountoryieldontheloan/creditproduct,takingintoaccount:

• therateofinterestapplicable;and

• theperiodofthedepositorloan.

6.7 When we change interest rates with immediate effect, we will give publicnotice of these changes, for example, by notices in our branches or in thepress,oronstatementsorthroughATMnetworkorourwebsites.

�. CUSTOMERINFORMATION

7.1 Subject to paragraph 7.3, we will treat all customer information as strictlyprivateandconfidential(evenafteryouceasetobeacustomer).Wewillnotrevealyourpersonaldetailsordetailsaboutyouraccount toanyoneexceptwhenrequiredorallowedunderthelaworwhenwehaveyourpermissiontodoso.

7.2 Wewillnotpressyoubyrestrictingaccesstoanyofourstandardservicesandproductsupontheconditionthatyouconsenttopassyourpersonalinformationtoanycompany,includingthoseinourgroup.

7.3 Under the law, we are required to disclose information about your creditexposuretotheMauritiusCreditInformationBureau(MCIB).

�. ADVERTISINGANDMARKETING

8.1 Wewillmakesurethatalladvertisingandpromotionalmaterialisclear,fairandnotmisleading.


8.2 Wewillmarketandapprovecreditresponsibly,basedontheinformationyousupply to us, to match your requirements and capabilities and supply youwithsuitableproducts, inanattempt toensure thatyoudonotsubscribe toobligationsbeyondyourfinancialmeans.

8.3 You may seek expert financial and legal advice in respect of any of ourproducts.

8.4 Wemayinformyouabouttheservicesorproductsofanothercompanyor,ifyouagree,thatcompanymaycontactyoudirectly.

8.5 Ifwearemarketingaproductasanagent,wewill

• ensurethatthematerialfeaturesandrisksoftheproductareproperly disclosedandexplainedtoyouduringthemarketingandsellingprocess; and

• clarifythattheactivitybeingmarketedisnotregulatedbytheBank ofMauritiusandthatultimateresponsibilityfortheproductvestswith thecompanyofferingtheproduct.

�. PROVISIONOFCREDIT

9.1 All lending will be subject to an assessment of your ability to afford suchfacilityandyourwillingnesstorepay.Thisassessmentwillinclude-butwillnotbelimitedtothefollowing:

• checkswearerequiredtocarryoutwiththeMauritiusCreditInformation Bureau(MCIB);

• checkswemaycarryoutwithotherbankswithwhichyouhavetransacted previouslytoascertainyourcreditworthiness;

• howyouhaveconductedyourpreviousandexistingaccountwithus;

• informationsuppliedbyyou,includingverificationofyouridentityandthe purposeoftheborrowing;

• anysecurityorcollateralprovided;

• creditscoring;

• yourfinancialstatements.


9.2 When we extend credit to you, including a mortgage loan, we shallencourageyoutotakeindependentfinancialandlegaladviceandexplaintoyou:

• theinterestchargedthereonandthemannerinwhichitistobecalculated;

• anyapplicablefeesorotherchargesandthemannerinwhichtheyareto becalculated;

• alltermsandconditionsapplicabletothecredit,clearlyidentifyingyour obligations;

• theoperationandrepaymentofyourloan,includingallthechargesand costs,andtheadditionalinterestandcostspayableshouldyouraccount fallintoarrears,aswellasthebenefitsandpossibleadditionalfeeswith regardtoacceleratedpayment;

• thatyourcreditfacilitymayberecalledatanytime,shouldyoufailto respectthetermsandconditionsapplicabletothecredit;

• thatyouriskthepossibilityoflosinganypropertygivenassecurityshould younotkeepupyourloanrepayments;and

• whetherthebankrequiresinsurancetobetakenoutandwhoseresponsibility itistoarrangefortheinsurance.

9.3 Shouldyourequestustosuggestaninsurance,wewillprovideyouwiththreeinsurancequotesandleavethechoicetoyou.

9.4 Ifyouwantustoacceptanyguarantororothersecurityfromsomeoneforaloan,wewill:

• adviseandcautiontheguarantorthat,bygivingthesuretyorothersecurity, hemaybecomeliableinsteadof,oraswellas,you;

• encouragetheguarantortotakeindependentlegaladvicetomakesure thatheunderstandsthecommitmentandthepotentialconsequencesof suchadecision;

• ensurethatallthedocumentstheguarantorwillbeaskedtosignwill containclearandprominentnoticetothateffect;


• advisetheguarantorwhetheritisalimited(withmaximumvalue)oran unlimitedsuretyandtellhimabouttheimplicationsofanunlimited surety;

• undertaketoinformtheguarantorassoonasreasonablypossibleifthe principalhascommittedabreachofthetermsofanyfacility;and

• inaccordancewithapplicablelaws,sendormakeavailabletoyouand theguarantor,astatementofaccountinwritingorelectronicform, showingpaymentseffectedonthecreditfacility,interestchargedorany otherapplicablefeewhichhasbeenapplied.

9.5 We shall provide you with a loan statement on a half yearly basis eitherelectronicallyorbypost.

10. RUNNINGYOURACCOUNT

10.1 We recommend that you check your statements or savings account bookregularlyandpromptlyinaccordancewithapplicablelaws.Ifyourstatementorsavingsaccountbookhasanentrythatseemstobewrong,youshouldtellusassoonaspossible,sothatwecanresolvematters.

10.2 Tohelpyoumanageyouraccountandcheckentriesonit,wewillgiveyouaccount statements in writing or electronic form on a regular basis but atleast once every six months, unless you request otherwise or if this is notappropriateforthetypeofaccountyouhave(suchasanaccountwhereyouhaveapassbook).Moreover:

• youcanaskustogiveyouaccountstatementsmoreoftenthanis normallyavailableonyourtypeofaccount,buttheremaybeacharge forthisservice.

• youshouldmanagetheuseofyourstatementstomeetyourrequirements takingintoaccountthechargesassociatedwithprovidingthem.

10.3 Wewill,onrequest,adviseyouastohowdirectdebits,standingordersandrecurringtransactionsworkandhowyoumaycanceloneofthesewhenyounolongerrequireit.

10.4 Wewillretainoriginalchequespaidfromyouraccount,orlegiblecopiesoftheseinanysuchformasrequiredbylaw,foraperiodofatleast7yearsasfromthedateofissue.


10.5 Wherewehavepaidacheque,wewill,onrequest,withinareasonabletimeprovideyouwitheitherthechequeoralegiblecopyofthechequeonpaymentofafee.

10.6 Wewill,onrequest,explainhowwedealwithunpaidchequesandoutofdatecheques.

10.7 We will, on request, explain how and when we may stop a cheque orcountermandothertypesofpayments.

10.8 Wewill,onrequest,explainwhenfundscanbewithdrawnafterachequeorotherpaymenthasbeencreditedtotheaccount.

10.9 Wewillinformyouifachequeyouhavedepositedhasbeenreturnedunpaid.

10.10 It isessential thatyoukeepus informedofanychangewith respect toanyinformationprovidedatthetimeoftheopeningoftheaccountandwhichmayhaveaneffectontheday-to-dayrunningofyouraccount(e.g.name,address,revenue,employer).Youwillberequiredtosubmitdocumentaryevidence.

10.11 InaccordancewiththeFinancialIntelligenceandAnti-MoneyLaunderingAct(FIAMLA),wewillnotacceptfromyouanytransactionincash,i.e.inmoneyorbywayofchequewhichisneithercrossednormadepayabletoorder,thatexceeds Rs 500,000 (or the equivalent amount in foreign currency) unlesssuchtransactionsqualifyas‘Exempt’asdefinedbytheFIAMLA.

11. INACTIVEACCOUNTS,ABANDONEDFUNDSAND UNCLAIMEDDEMANDDRAFTS

InactiveAccounts11.1 Wherethefundsyouhavedepositedwithusfallbelowourminimumbalance

requirement(whichmayormaynotexistandvaryamongbanks)andthesehavebeenleftuntouchedforaminimumperiodofoneyear,wewillnotifyyouinwritingincaseanyservicefeesorchargesareapplied.Shouldyoufailtorespondwithin6monthsofsuchnotificationhavingbeenremittedtoyou,wewillhandoverthedeposittoyouinperson,failingwhichwewilltransferyourdeposittotheBankofMauritius.Moreover,wherethenoticehasbeenreturnedundeliveredonmorethanthreeconsecutiveoccasions,weshall,aftermakingenquiriesregardingyouraddress,ceasetosendastatementofaccounttoyou.

AbandonedFunds11.2 WearebylawrequiredtotransfertotheBankofMauritiusfundsyouhave

depositedwithuswhichhavebeenleftuntouchedandnotbeenreclaimedforaperiodof7yearsormore.Beforethisisdonewewillinformyouinwritingatthelastknownaddressyouhaveprovidedus.Ifyoudonotrespondwithin6monthsofourlastnotification,thefundswillbetransferredtotheBankofMauritius.

FundstransferredtotheBankofMauritius11.3 FundstransferredtotheBankofMauritiusinaccordancewithparagraph11.1

or11.2willalwaysremainyourpropertyor,ifyoudie,willbecomepartofyourestate.Thisisthecasenomatterhowmanyyearspass.However,suchfundswillnotbearanyinterest.Onapplication,weshallinitiatetheprocesstoretrieveyourfundsfromtheBankofMauritius.

UnclaimedDemandDrafts11.4 Whereademanddraftyouhaveappliedforhasremainedunclaimedovera

periodof7yearsfromthedateofissueofthedraft,andyouhavenotrespondedwithin6monthsofourlastnotificationmadetoyoubyregisteredpostatyourlastknownaddress,thedemanddraftwillbetreatedasabandonedfundsandwillbetransferredtotheBankofMauritiusinaccordancewithsection59oftheBankingActonAbandonedFunds.Itisworthnotingthatthebeneficiaryofthedemanddraftcanstillhaveaclaimonthesamedraftduringtheperiodof5yearsfromthedateofissueofthedraft.

12. FOREIGNEXCHANGESERVICESANDCROSS-BORDER PAYMENTS

12.1 Wewill explain the services, details of the exchange rates and the chargeswhichwillapplytoourforeignexchangeservices. Theratesofthefeesorchargeswillalsobedisplayedinourbranchesoronourwebsites.

12.2 Whenyouwishtoeffectcross-borderpayments,wewill,onrequest,provideyouwithdetailsoftheservicesweoffer.Indoingso,wewillprovide,asaminimum:

• abasicdescriptionoftheappropriateservicesavailableandthemanner inwhichtheycanbeused;

• informationastowhenmoneysentabroadonyourinstructionsmaybe expectedtoarrive;and

• detailsoftheexchangerates,anycommissionorchargespayabletous includingawarningwhereagents’chargesmayalsobeincurred.



12.3 Ifmoney is transferred toyourbankaccount fromabroad,wewill tellyoutheamountreceivedandanychargesapplicable.Ifthesenderhasagreedtopayallcharges,wewillnotdeductchargeswhenwepaythemoneyintoyouraccount.

12.4 Wewillletyouknowwithoutdelayifforanyreasonyourremittancescouldnotbeexecutedbyusorouragent.

1�. CARDSANDPERSONALIDENTIFICATIONNUMBERS(PINs)

Thissectionappliesto“cards”asdefinedintheglossary.

Generalfeaturesofcards13.1 Unlessyouridentityhasalreadybeenverifiedbyus,wewillrequestyouto

establishyouridentitywhenyouapplyforacard.

13.2 Wewillonlyissueanewcardtoyouonrequestorinreplacementofanexistingcard.

13.3 Wewillinformyouifthecardissuedtoyouhasmorethanonefunction.

13.4 Whenyouapplyforacard,wewilltellyouhowitworksandgiveyouthetermsandconditions.

13.5 Ifyoudonotrecogniseacardtransactionthatappearsonyourstatement,werecommendyoutonotifyuspromptlyandwewillgiveyoumoredetailsifyouaskus.Insomecases,wewillneedyoutogiveusconfirmationorproofthatyouhavenotauthorisedatransaction.

13.6 If we are satisfied that a transaction is unauthorised, the amount involvedtogetherwithanyinterestcharged,asaconsequenceofthetransactionbeingunauthorised,willberefundedunlessyouhaveactedfraudulentlyorwithoutreasonablecare.

13.7 Wewillinformyouastothefrequencyatwhichyouwillreceivearequestforpaymentandtheperiodwithinwhichpaymentshouldbemade.

13.8 WewillinformyouthroughdirectcommunicationorbyadviceondisplayinbranchesorATMoronourwebsitesorinstatementmessageorbystatementsin the media, not less than 30 days before any variation of the terms andconditionsrelatingtoyourcardbecomeseffective.

MBA CODE OF ETHICS AND OF BANKING PRACTICE 21

PINs13.9 WewillgiveyouyourPINseparatelyfromyourcard.Wewillnotrevealyour

PINtoanyoneelse.

13.10 Wewilltellyouaboutoursystems,whichallowyoutochooseandchangeyourPIN.

CreditCards13.11 When we issue a card to you, our literature will provide the following

information:

• yourrightsandobligationsinrespectof:

a. thecreditlimitauthorisedunderthecardandtheamountofindebtedness outstandingatanytime;

b. theperiodoftimeforwhicheachstatementisissued;

c. anychargesandinterestcostsforwhichyoubecomeresponsiblefor acceptingandusingthecard;

d. theminimumamountinrespectofthebalanceoutstandingthatmust bepaidattheendofeachstatementperiod;and

e. themaximumamountofyourliabilityforunauthoriseduseofthe cardwhereitislostorstolen;

• thecostofborrowinginrespectofanyloanobtainedthroughtheuseofthe card;

• theexchangerateappliedandthemannerinwhichitiscalculated;

• intheeventtherequiredinstalmentisnotpaidontheduedate,particularsof thechargesandpenaltiesthatyoushouldpay;and

• theamountofanychargeorfeeforwhichyouareresponsibleforaccepting andusingthecardandthemannerinwhichthechargeiscalculated.

13.12 Beforewegiveyouacreditlimitorapproveyourrequestforanincreaseinthecreditlimit,wewillmakeanassessmentastoyourrepaymentcapacity.

13.13 Wemayincreaseordecreaseyourcreditlimitonyourcard.Howeverwewillnotchangeyourcreditlimitunlesswehaveinformedyoubeforehand.Youcancontactusatanytimeifyourwanttoreduceyourcreditlimitoroptoutofreceivingcreditlimitincreases.


13.14 Youwillreceiveamonthlystatementforyourcreditcardunlessyouraccounthasanilbalanceandhasnotbeenused.Themonthlystatementwillincludeinformationabouttransactionssincethelaststatementdate,anyinterestandothercharges/feeswhichapply,andtheminimumrepayment.

13.15 Wewillinformyouoftheperiodoverwhichanypromotionalofferinrelationtoyourcreditcardwillapply.

13.16 Wewillinformyouofsuchtypesoftransactionsusingyourcreditcardwhichwillbetreatedasanadvance.

13.17 Ifyoumakeacashwithdrawalwithacreditcard,wewilltreatitasacashadvanceandyoumaybechargedahandlingfeeandinterestatthecaseadvancerateasfromthedateofthewithdrawaluntilfullpaymentiseffected.

1�. INTERNETANDOTHERREMOTEBANKINGFACILITIES

14.1 Atour level,measuresare taken topreserve thesecurityandconfidentialityofyouraccountinformation.

14.2 Onlineandotherremotebankingfacilitiesaresafeaslongasyoutakeanumberofsimpleprecautions:

• donotdiscloseyourpasswordorPINtoanythirdpartyunderanycircumstances and,betheonlypersontohaveknowledgeofyourpasswordandPINasthey aremeanttobekeptsecret;

• reviewyourbankstatementsandreconcileyouraccountsregularly;

• treatemailsyoureceivewithcautionandbewaryofemailsorcallsasking youtorevealanypersonalsecuritydetails.Nobody,eventhePoliceor ourselves,isentitledorshouldevercontactyoutoaskyoutorevealyour

onlinebankingorpaymentcardorPIN.Requestsforthedisclosureofsuch informationshouldgiverisetosuspicionofPhishingattempts;

• checkthesitesecuritycertificatefortheInternetBankingsiteeachtimeyou doyourbanking;

• changethepasswordthatwasissuedtoyoutoapasswordofyourchoice knownonlytoyou;

• shouldyoubeawarethatyoursecretaccesscode,beitPIN,passwordor otheruniquemeansofpersonalidentification,hasbeenobservedorusedby anyone,orcompromisedorlostorstolen,changeitimmediatelyandinform uspromptly;


• thesecurityofyourpasswordorPINaswellasthatofthecomputerfromwhich youaccessouronlineandremotebankingfacilitiesisyourresponsibility;

• ensurethatyouhavereadandarefamiliarwiththetermsandconditionsof yourbank’swebsite,includinganysecurityprecautions,andtheproduct termsandconditionsonthewebsite;

• donotusethebrowserfacilitytostoreyourpasswordinordertoavoidhaving toenteriteachtimeyoutransact,usinginternetbanking;

• ensurethatthereisadequateanti-virusandsecuritysoftwareinstalledand enabledonthecomputeryouuseforinternetbanking;

• ifyouhavereasontobelievethatyouhavebeenthevictimofPhishingor ifyouhavereceivedanyfraudulentmailorifyounotethatatransaction hasnotbeenperformedbyyou,youshouldimmediatelyreportthistousto allowustoquicklyinvestigatethematterandtakenecessaryactions;

• ensurethatyoudonotusecomputerterminalstowhichmembersofthe publicgenerallyhaveaccess;and

• ensurethataccountnumbersandamountstransactedforinternetandmobile phonebankingareenteredcorrectlysothatcorrectamountsaretransferred tocorrectaccountsorbeneficiaries.Itwillnotbepossibleforustoreverse paymentsmadetowrongaccountswithoutthespecificconsentofthe accountholders.

1�. LIABILITYFORLOSSES

15.1 Itisessentialthatyoutellusassoonasyoucanifyoususpectordiscoverthat:

• yourchequebook,passbookorcardhasbeenlostorstolen;or

• someoneelseknowsyourPIN,passwordorothersecurityinformation.

15.2 The best way of informing us initially about the problem will usually be bytelephoneusingthenumberswehavegivenyouorbyemailifwehavegivenyouanaddressforthispurpose.Youneedtothereafterpromptlyconfirmtheprobleminwriting.Wemayrequireyoutogiveastatementtothepoliceaboutthelossortheft.

15.3 Afteryouinformusthatachequebook,savingsaccountbookorcardhasbeenlostorstolenorthatsomeoneelseknowsyourPIN,passwordorotheruniquemeansof personal identification,wewill take immediate steps to prevent these frombeingusedtoaccessyouraccount.


15.4 Subject to Paragraphs 15.6 and 15.7, we will refund you the amount of anytransaction together with any interest or charges associated with the disputedtransactioninthefollowinginstances:

• foralltransactionsnotauthorisedoreffectedbyyouafteryouhaveinformed usoftheinformationlistedinParagraph15.1;

• wheresystemmalfunctionshaveoccurredinATMsorassociatedsystems, whichwerenotobviousorsubjecttoawarningmessageornoticeatthetime ofuse.

15.5 Ifsomeoneelseusesyourcardbeforeyoutellusithasbeenlostorstolen,thebankwillrefundanydisputedtransactionif:

• youhaveexercisedreasonablecareinsafeguardingyourcardfromriskof loss,theft,orunauthoriseduse;

• youimmediatelyandwithoutdelaynotifiedthebankondiscoveryofthe loss,theft,orunauthoriseduse;

• aPINhasnotbeenusedasthecardholderverificationmethodforthe unauthorisedtransaction;and

• youhavecompliedwiththetermsandconditionsofthecardholderagreement.

15.6 If you act fraudulently, youwill be responsible for all lossesonyour account.If you have acted without reasonable care and this causes losses, you may beresponsible for them.Your responsibility may also apply if you fail to followmeasuressetoutinParagraphs14and16.

15.7 Whenacreditcardtransactionisdisputed,wewouldrequestyourpatienceandcooperationwhileweconductaninvestigationtoestablishwhethertherehasbeenfraudandnegligence.Insuchcases,weexpectyoutocooperatewithusandthePoliceinanyinvestigationandweundertaketoreverttoyouwithin30daysofyournotificationtothebankofthedisputedtransaction.

15.8 Pleasenotethatwewillnotbeliableforanylosscausedbycircumstancesthatarebeyondourreasonablecontrol,includingbutnotlimitedto:

• yourinabilitytoaccessinternetbanking,oranyotherapplicationassociated withorreliantoninternet,atanytime,oranyfailureordelayinprovidinga serviceviatheinternet;


• yourinabilitytoaccesstelephoneormobilebanking,oranyotherapplication associatedorreliantontelephoneormobilebanking,atanytime,oranyfailure ordelayinprovidingaserviceviatelephoneormobile;or

• adisruptionofservicescausedbyforce majeure.

1�. REASONABLECARE

16.1 Thecareofyourcheques,passbook,cards,PINsandothersecurityinformationisessentialtohelppreventfraudandprotectyouraccount.Pleasemakesurethatyoufollowtheadvicegivenbelow:

• donotkeepyourchequebookandcardtogether;

• nevergiveyouraccountdetailsorothersecurityinformationtoanyone unlessyoucanreasonablytrustthepersonandyouareinformedwhyheneeds them;

• donotallowanyoneelsetouseyourcardanddonottellanyoneelseyour PINorpassword;

• ifyouchangeyourPIN,youshouldchooseyournewPINcarefullyand avoidPINsthatareeasytoguess,suchas1111oryourdateofbirth;

• trytomemoriseyourPIN,passwordandothersecurityinformationand destroytheaccompanyingnoticereceivedfromthebankassoonasyou

receiveit;

• asfaraspossible,donotwritedownorrecordyourPIN,passwordorother securityinformation;

• donotkeepbothyourcardandPINtogether;

• alwaystakereasonablestepstokeepyourcardsafeandyourPIN,password andothersecurityinformationsecretatalltimes;

• keepyourcardreceiptsandotherinformationaboutyouraccountcontaining personaldetails(forexample,statements)safeandgetridofthemcarefully bydestroyingthem;

• takecarewhenstoringorgettingridofinformationaboutyouraccount. Peoplewhocommitfraudusemanymethods,suchasbinraiding,togetthis typeofinformation.Youshouldtakesimplestepssuchasshreddingprinted material;


• ensurethatyourarealerttotherisksofmuggingandcardswappingwhen usingATMsorotherelectronicbankingdevices;

• donotuseATMsorPOSthathaveobviouslybeentamperedwithorthat containwarningmessages;

• treatemails,SMSesorcallsyoureceivewithcautionandbeawarethatwe willneveraskyoutorevealanypersonalaccountorsecuritydetails(like yourPIN,password,etc)inaletter,email,smsortelephonecall;

• takecarewhenenteringnumberswhiledoingyourbankingandinparticular withinternetbankingsothatwhenyoumakepayments,youtransferthe correctamountstothecorrectaccountsorbeneficiaries.Wecannotreverse duplicateorerroneouspaymentsyoumaketootheraccountswithoutthe specificconsentofthoseaccountholders;and

• followouradvice–ourwebsitesareusuallyagoodplacetogethelpand guidanceonhowtostaysafeonline.

16.2 Youarebylawrequiredtoexercisereasonablepromptnessinexaminingthebankstatementswesendyou.Ifthereisanentrythatseemstobewrong,youshouldtellusassoonaspossiblesothatwecansortitout.Wewillremindyoutocheckyourstatementseverytimewesendyouastatement.

1�. FINANCIALDIFFICULTIES

17.1 Shouldyouraccountgointodefault,ourfirststepwillbetotrytocontactyoutodiscussthematter.

17.2 Ifyoufindyourselfinfinancialdifficulties,youshouldletusknowingoodtimeand,inparticular,respondtoourcommunicationsassoonaspossible.Thesoonerwediscussyourproblems,theeasieritwillbeforbothofustofindasolutionanddevelopaplanwithyoufordealingwithyourfinancialdifficulties,consistentwithbothourinterestsandyours.

1�. COMPLAINTSANDCOMPLAINTSPROCEDURES

18.1 Whenacomplaintyouhavemadehasnotbeensettledtoyoursatisfaction,wewillstilldoourbesttoresolvethedispute.

18.2 Weshallatalltimesbereadytoconsideranysuggestionyoumaywishtomakeinthatconnection.


1�. COURTORDERS

19.1 WhereanAttachmentOrderonyouraccountisissuedbyaJudgeinChambers,weshallcomplywiththeOrder.

19.2 WhereaCustomerInformationOrderoranAccountMonitoringOrderisissuedbyaJudgeinChamberspursuanttotheAssetRecoveryAct2011,weshallcomplywiththeOrder.

19.3 WhereanAttachmentOrderonyouraccountisissuedbytheMauritiusRevenueAuthority,weshallattachtherelevantaccountuptotheamountspecifiedintheAttachmentOrderandinformyouoftheamountattached.

20. BUSINESSCONTINUITY

20.1 Wewilltakeallnecessarymeasurestoensurethecontinuityofbusinessoperationsandtominimiserecoverytimeinthecaseofadisaster(naturalorotherwise)orintheeventofanemergency.Wewillinformyouofanysuchoccurrence.

20.2 Ifweplantocloseormoveabranchwhereyouhaveanaccount,wewillgiveyouadvancenoticeandtellyouwhattheprocedureistocontinuetobeacustomer.


GLOSSARY

ThesedefinitionsexplainthemeaningofwordsandtermsusedintheCode.Theyarenotpreciselegalortechnicaldefinitions.

ATM(AutomatedTellerMachine)

AcashmachineorfreestandingelectronicbankingdevicedispensingcashwhichmayalsoprovideotherinformationorservicestoclientswhohaveacardandaPIN,passwordorothermeansofuniqueidentification.

Bankingandpaymentsystems

Thisreferstotheunderlyingclearing,moneytransmissionandcomputersystemsusedbybanks.

Card

Ageneraltermforanyplasticcardusedtopayforgoodsandservicesand/ortowithdrawcash.

Cheque

Achequeisanunconditionalorderinwritingdrawnonabanktopay,ondemand,asumofmoneyasspecifiedinwordsandfiguresbyadrawerwithhissignature.Achequeisvalidforoneyearasfromthedateofissue.

CorporateGovernance

Is thesystembywhichcompaniesaredirectedandcontrolled.Boardofdirectorsareresponsibleforthegovernanceoftheircompanies.Theshareholders’roleingovernanceistoappointthedirectorsandtheauditorsandtosatisfythemselvesthatanappropriategovernancestructure is inplace.Theresponsibilitiesof theBoard includesetting thecompany’sstrategicaims,providingtheleadershiptoputthemintoeffect,supervisingthe management of the business and reporting to shareholders on their stewardship.The Board’s actions are subject to laws, regulations and the shareholders in generalmeeting.

DataController

Apersonwho,eitheraloneorjointlywithanyotherperson,makesadecisionwithregardtothepurposesforwhichandinthemannerinwhichanypersonaldataare,ortobe,processed.


Directdebit

Aninstructioninwritingdulysignedbyacustomertoabanktopayasumofmoney,to be specifiedby the beneficiary, as claimed for a particular service providedby thebeneficiarytothecustomer.

Equity

Justiceappliedincircumstancescoveredbylawyetinfluencedbyprinciplesofethicsandfairness.

ForceMajeure

A‘forcemajeure’clauseinacontractexemptsapartyfromperforminghiscontractualobligationsduetounforeseeneventsbeyondthecontrol.Theseeventsincludebutarenotlimitedtonaturaldisasterssuchasfloods,earthquakesandotheractsofGod,aswellasuncontrollableeventssuchaswarorterroristattack.

MauritiusCreditInformationBureau(MCIB)

Collects,storesandprovidescreditinformationtolendinginstitutionsaboutcustomers’creditexposures.ItisadministeredbytheBankofMauritiusunderstrictconfidentiality.

Outofdatecheque

A cheque which has not been paid because the date written on the cheque is too old(normallyolderthan12monthsforlocalcheques).

Password

Awordoranaccesscodethatiseithersuppliedbyabankorchosenbycustomerstoallowthemtouseinternetand‘otherremotebanking’services.

Person

Anindividualoragroupofpersonsorabodycorporate.

Phishing

Afraudulentactwhereemails,textmessagesandpop-upmessagesaresenttointernetbankingusersclaiming tobefromareputablefinancial institutionore-commercesitetogetthevictimtoreleasepersonalandconfidentialinformationsuchashislogincode,passwordetc…

PIN (Personal Identification Number)

Aconfidentialnumberwhichallowscustomerstomakepurchasesofgoodsandservices,withdrawcashanduseotherservicesatacashmachine.CustomerswilloftenhavetoentertheirPINintoapointofsaleterminal,insteadofsigningareceipt,toauthorizeatransaction.

POS(PointOfSale)

Apointofsale(POS)terminalisacomputerizedreplacementforacashregister.

StandingOrder

Aninstructioninwritingdulysignedbyacustomertoabanktopayacertainsumofmoneyonspecificdate/stoanamedpartyduringaspecifiedperiod.

Unpaidcheque

Achequewhich,afterbeingpaid into theaccountof theperson it iswrittenout to, isreturned‘unpaid’(bounced)bythebankwhosecustomerissuedthecheque.Thisleavesthepersonthechequewaswrittenouttowithoutthemoneyinhisaccount.

�0 MBA CODE OF ETHICS AND OF BANKING PRACTICE

Notes

MBA CODE OF ETHICS AND OF BANKING PRACTICE �1

Notes

�2 MBA CODE OF ETHICS AND OF BANKING PRACTICE

Notes

Level 15, Newton Tower, Sir William Newton Street,

Port Louis, MauritiusTel: (230) 213 2390 - 213 2391

Fax: (230) 213 0968E-mail: [email protected]: www.mba.mu

Documents

CODE OF Ethics and of Banking Practice