MauBank is a

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

headquartered in Ebene CyberCity,

Mauritius Mauritius, officially the Republic of Mauritius, is an island country in the Indian Ocean, about off the southeastern coast of East Africa, east of Madagascar. It includes the main island (also called Mauritius), as well as Rodrigues, Ag ...

. It is licensed as a commercial bank by the Bank of Mauritius, the country's

central bank A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...

and the nation's banking regulator. MauBank is the third largest bank in Mauritius. It offers a full range of financial services to private and corporate clients, wealthy individuals, companies, public and financial institutions. The activities are divided into different business lines: Retail & Private Banking, Corporate Banking, International Banking, Wealth Management, Insurance services, SME Banking and Leasing. MauBank maintain a network of 19 branches, including one in

Rodrigues Rodrigues ( ; Mauritian Creole, Creole: ) is a Autonomous administrative division, autonomous Outer islands of Mauritius, outer island of the Republic of Mauritius in the Indian Ocean, about east of Mauritius. It is part of the Mascarene Isl ...

island, the bank also provides basic banking services across the 102 Post offices operated by Mauritius Post Ltd. MauBank is wholly owned by the

Government of Mauritius The Government of Mauritius () is the main authority of the executive power in the Republic of Mauritius. The Head of Government, head of the Government is the Prime Minister of Mauritius, who manages the main agenda of the Government and direct ...

, as at 2019 the government announced its intention of finding a strategic partner to expand the activities of the bank. MauBank's strategic decisions are taken by its

board of directors A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulatio ...

, headed by the chairman. Premchand Mungar is the

chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

History and ownership

The government of Mauritius established the Mauritius Post and Cooperative Bank (MPCB) Ltd in August 2003, following the merger of the New Co-operative Bank Ltd with the Post Office Savings Bank. On 4 January 2016, the MPCB acquired the assets and liabilities of the National Commercial Bank (Ex- Bramer Banking Corporation). Subsequently, the MPCB changed its name to MauBank Ltd ("MauBank"). At 30 June 2016, the share capital of the Bank stood at Rs 3,270,858,232 represented by 3,401,813,502 ordinary shares. There are twelve (12) shareholders on the shares register with MauBank Holdings Ltd having 99.93% interest in the Bank, the remaining shares being held by 11 shareholders including public sector bodies and cooperative societies. MauBank Holdings Ltd is in turn 100% owned by the Government of Mauritius.

eBanking services

In line with its green and digitization agenda, the bank adopted paperless account opening, e-statements, online financial calculators, robotic process automation in areas like credit scoring and loan processing. Customers receives instant SMS text messages when funds are debited or credited on their bank accounts. The cards services provided by the bank supports contactless payments using near-field communications. In addition to the internet banking facilities which allows users to transfer funds and manage their bank accounts, the bank was the first in Mauritius to offer online lending facilities known as ''MyLease''.

MauBank WithMe

MauBank WithMe is a

freeware Freeware is software, often proprietary, that is distributed at no monetary cost to the end user. There is no agreed-upon set of rights, license, or EULA that defines ''freeware'' unambiguously; every publisher defines its own rules for the free ...

mobile banking app from MauBank. The app is available on

electronic devices Electronics is a scientific and engineering discipline that studies and applies the principles of physics to design, create, and operate devices that manipulate electrons and other electrically charged particles. It is a subfield of physics and ...

such as

smartphone A smartphone is a mobile phone with advanced computing capabilities. It typically has a touchscreen interface, allowing users to access a wide range of applications and services, such as web browsing, email, and social media, as well as multi ...

tablet computer A tablet computer, commonly shortened to tablet, is a mobile device, typically with a mobile operating system and touchscreen display processing circuitry, and a rechargeable battery in a single, thin and flat package. Tablets, being computers ...

s, and

personal computer A personal computer, commonly referred to as PC or computer, is a computer designed for individual use. It is typically used for tasks such as Word processor, word processing, web browser, internet browsing, email, multimedia playback, and PC ...

s. The app enables individuals to electronically transfer money from their bank account to another registered user's bank account using a mobile device, withdraw money from ATM's without card, manage their bank accounts and perform online transactions. In 2018, MauBank became the first bank in Mauritius to on-board customers through a mobile app. The app use OCR technology to store and organize users' information from various documents such as IDs and proof of address. The app also allows video call with the officers of the bank during office hours. MauBank WithMe is available on the iOS App Store and Google Play Store. The bank won the Application Programming Interface (API) Led Innovations award and was the finalist for Emerging Technology Led Innovations at the Infosys Finacle Client Innovation Awards in 2019.

Features

The updated version of the app was launched on 27 September 2018, the main features of the app are as follows:

View account details and transactions

* Check account balance * Check transaction history * View mini-statement * View status of transactions * Download account statement

Pay and Transfer Funds

* Transfer funds between bank accounts * Transfer funds to another MauBank account * Transfer funds from MauBank to another local bank * Manage beneficiaries to facilitate funds transfer * Pay cardless to a mobile number and withdraw money at any MauBank ATM * Recharge phone and that of your friends and relatives anytime * Setup schedule or recurring funds transfer * Stop schedule/recurring and cardless funds transfer

Credit Card

* View Credit card details, available credit and card limit * Access and download credit card statements * Reload Credit card from Foreign Currency Account or MUR Account * Block/ unblock credit card anytime

Open a new Bank account

* Open a Bank account

Authenticate using fingerprint or Face ID

* Use fingerprint or Face ID for authentication

Manage services

* Block or unblock debit or credit card * Change mPIN * Refer WithMe to a friend * De-register mobile device not in use

Branches

The bank maintains its headquarters at the Ebene CyberCity, Mauritius. The bank provides basic banking services across the 102 post offices network of the Mauritius Post Ltd which are open on Saturdays. MauBank also maintain a network of local branches, including one in

island as listed below.

External links

MauBank WithMe app

Financial calculators

MauBank MyLease

Internet Banking

References

{{Reflist Banks of Mauritius Banks established in 2003 2003 establishments in Mauritius Companies based in Ebene, Mauritius