As from tomorrow, Wednesday 23rd of July 2014, the Bank of Mauritius announces the issue of Treasury Bonds for an amount of Rs. 2 billion geared towards the 13 commercial banks and post offices of the island.
The Bank of Mauritius and the Ministry of Finance have jointly launched this initiative to promote savings culture in the island. In fact, two types of Treasury bonds have been issued. First, the Five-Year Government of Mauritius Savings Bond yielding a fixed interest rate of 6% over a period of 5 years. The other one implies a Five-Year Government of Mauritius Index-Linked Saving Bond yielding an interest rate of 2% which is variable depending on inflation rate. However, the maximum amount of investment by potential buyers of these bonds shall not exceed Rs. 500 000 per individual.