MAURITIUS COMMERCIAL BANK: Major island bank voted best six years running

Port Louis, MAURITIUS VIJAY SHAH via Le Defi The Mauritius Commercial Bank (MCB), one of the largest banking firms operating on the Indian Ocean island, has been declared ‘2016 Bank of the Year – Mauritius’ for the sixth year in a row, French-language Le Defi Media Group reported this past Friday. The bank, one of the island’s few indigenously operated financial institutions has won the coveted title six times in the past eight years. A feature of the Mauritian high street with its distinctive red and white livery and stylised red sailboat logo, MCB received its latest award from The … Continue reading MAURITIUS COMMERCIAL BANK: Major island bank voted best six years running

LLOYDS BANKING GROUP: Lloyds and TSB to part ways

The British banking giant Lloyds TSB is to split into two separate banks, according to a letter sent to their UK-based customers this month. The Lloyds Banking Group, which owns Lloyds TSB, Halifax, and the Bank of Scotland, has announced that it is in the early stages of preparing part of its business to eventually be spun off as an entirely independent high street bank to be known as TSB. The move is in response to European Union legislation aimed at encouraging more competition in the UK’s banking sector, which has been rocked by the financial crisis and reports of … Continue reading LLOYDS BANKING GROUP: Lloyds and TSB to part ways

CREDIT CARDS: A digitally convergent future?

By Vijay Shah Credit and debit cards have long been a standard form of payment that is quick, durable and usually reliable. They mean wallets or purses which are not chockfull of change, which are less cumbersome to carry around, and give immediate 24 hour access to the contents of your bank account. All that offered with minimal fuss and maximum convenience. They also have limitations though. Most readers will know the feeling of losing their card after a busy night out or misplacing it in a taxi, and the frantic phone calls to the bank to cancel it before … Continue reading CREDIT CARDS: A digitally convergent future?