ward off money laundering, terrorist financing and proliferation financing risks. in this regard, mauritius has obtained technical assistance from the eu funded aml / cft global facility and the german government through the german development agency, the giz to support the implementation of the fatf action plan. on its part, the bank of mauritius conducted outreach for the industry on various aml / cft topics. as at date, we have already hosted 7 training sessions for the industry and aml / cft supervisors. all of them were facilitated by international experts on aml / cft. on 28 july this year, the bank hosted a virtual training delivered by the office of financial sanctions implementation of the uk hm treasury on the implementation of financial sanctions 4 / 7 bis central bankers'speeches for the mauritius authorities involved in the implementation of the united nations ( financial prohibitions, arms embargo and travel ban ) sanctions act. the virtual training saw the participation of more than 100 representatives from the various agencies and authorities. i ’ m pleased to inform you that 7 additional training programs are scheduled until the end of this very month. ladies and gentlemen, within one year of the publication of the mutual evaluation report, mauritius demonstrated positive and tangible progress on 53 of the 58 recommended actions in the report – which is indeed a monumental task within such a short span of time. mauritius was placed on the fatf list of jurisdictions under increased monitoring, in february 2020, with respect to the remaining 5 recommended actions for which the fatf has, in consultation with mauritius, devised a detailed plan of action with specific deadlines to remedy the identified shortcomings. mauritius has, in february 2020, given a high level political commitment to the fatf to implement the action plan within agreed timelines. i must here say that there is a concerted effort at all levels among respective ministries, regulatory bodies, law enforcement agencies and other competent authorities in view of implementing the action plan. this concerted effort is another tangible proof of our commitment to deliver on the action plan by september 2020, which is well before the agreed timeline of the fatf. the seriousness of mauritius to implement all actions is also testified by the fact that a high level committee placed under the chairmanship of the honourable prime minister has been set up to monitor progress made on the said action plan. there is also a dedicated core group which has been established to monitor the implementation of the recommendations of the mutual evaluation report. much has happened in terms of effectiveness since the february 2020 fat

forward to interactive discussions from ceos of all banks present in this room. i have also taken note with satisfaction that the entire banking industry is following this discussion today through virtual means. for our first edition of the bank of mauritius thought leadership series, i would like to thank our panellists also. we are indeed privileged to have with us professor the lord mervyn king, dr vera songwe, dr natacha valla, dr robert wardrop and mr daniel essoo. i also thank mr david marsh, chairman of the omfif who has kindly accepted to moderate today ’ s panel discussion. on this note, i wish you all successful deliberations. ladies and gentlemen, thank you for your attention. 3 / 3 bis central bankers'speeches