rock – which did not prove to be resilient to some shocks arising from some distant markets that he is having a such tough time. what i want to say, is that your business model is your business and the business of your directors, your chief executive and your shareholders. it's up to you to ensure that you are profitable. “ bank different ”, yes, but bank prudent as well. “ bank prudent, always! ” is what i say. we, at the central bank, have put rules and guidelines in the interest of the wider jurisdiction. we have to protect the consumer, the borrower and the lender as well. we want to have an efficient financial sector that can be benchmarked internationally. we want a clean jurisdiction. we are too small a jurisdiction to be able to afford a crisis like northern rock. banking is about risks. you must take risks but you must be aware of the risks that you are taking. the central bank may not know the risks, but you as bankers know your clients. we look at systemic risk but the risks of your bank, the threats to your business model, that's your business. we intend to allow the market to operate fully, whether it's the interbank market or the foreign exchange market. may, i draw your attention to the fact that we have not been intervening on the foreign exchange market lately inspite of pressures to do so. our policy at the bank is to intervene only if we are faced with excessive volatility. we cannot go against economic fundamentals. we are certainly not averse to market - supporting interventions. but we have no other specific targets to achieve. may i conclude my remarks with the hope that afrasia bank will build on the competence of all its partners including loita capital partners, whom we welcome to our shores and to our financial jurisdiction. i hope that it will build on the long and rich history of groupe mon loisir, within this historic setting which served as head office for one of our old colonial trading houses. this building has a very special cachet and its own atmospherics and with it, afrasia bank acquires an instant history! may it serve it well. i wish afrasia bank the very best of success. thank you for your attention.

rameswurlall basant roi : “ the growing role of human resource managers in modern business organisations ” address by mr rameswurlall basant roi, governor of the bank of mauritius, at the annual congress of the association of human resource professionals of mauritius, balaclava, 5 august 2016. * * * mr areff salauroo, president of the association of human resource professionals of mauritius professor donald ah chuen professor mckenna distinguished guests ladies and gentlemen good evening i am delighted to be here with you this evening. thank you, areff, for having invited me for the celebration of the 40th anniversary of the association of human resource professionals of mauritius. my warmest congratulations to you all. i understand you are also having your annual congress over two days carrying the theme “ the growing role of human resource managers in modern business organisations ” which, i believe, fits well in the current social and economic context. as you are aware i re - joined the bank as governor again after a long break of eight years which i spent mostly overseas. having seen the human resource landscape in mauritius after so many years and the quality of human capital relative to the exigencies of the day, i should express my appreciation to the association for having chosen this topic. there is an unprecedented gap between the quality of human resources we have at our disposal and the quality of human capital needed to escape the middle income trap we find ourselves in. humans are slow learners. it takes longer for humans to reach maturity as a percentage of their lifetimes than any other species. having had the experience as a director of a department at the central bank and as a governor for several years, i am more than convinced that getting human resources in the country do what needs to be done for enterprises in the private sector and institutions in the public sector to survive in an increasingly competitive world must be a daunting challenge for human resource managers. how do we get people give their best shots when the character of the modern individuals is threatened by an economic system that has shifted from capitalism to turbo - capitalism? how do we get people give their best shots when the feelings of authenticity have become more and more scarce? how do we get people give their best shots in times of individualization and a serious lack of true and sincere connection with each other within a team in an organization? how do we get people give their best shots if they lack insight, quickness and a can - do attitude? and how do we get people deliver