CHAPTER 51 / 55 · Paid
Non-bank deposit-taking institution.
A Banking Act institution that is not a bank. It is not a money changer.
Approx. 12 min with exercisesLaw cut-off: 20 September 2026Our approach
By the end of this chapter
- Describe the shop in one paragraph from the first file on the desk.
- Decide the promoter’s next asks: which stay on this letter, which need another paper.
- Keep neighbouring permissions off this desk.
- Cite the enabling section and treat the licence letter as the book.
Bank of Mauritius · BOM-NBDT · Non-bank deposit-taking permission (teaching category)
1. IsleFinance Ltd’s shop
IsleFinance Ltd is the desk this chapter is for. Take deposits without being a bank.
The first file on the desk is this. IsleFinance Ltd will take term deposits from the public and lend to SMEs, without calling itself a bank. NBDT permission / BOM-NBDT.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a non-bank deposit-taking permission (teaching category) under Banking Act 2004, Banking Act deposit-taking framework (not a bank as defined in section 2). A company name is not a permission.
Second, neighbouring papers stay off this desk. Not a bank, not a money changer, not FS-1.20, and not FS-2.3.
Third, the assumptions stay in the file. Fictional institution. Cut-off 20 September 2026.
Banking Act 2004, Banking Act deposit-taking framework (not a bank as defined in section 2). See the register note · Open the published text ↗.
2. A week with A deposit-taking finance house
Monday. The promoter walks in with “A deposit-taking finance house.” Write the facts before anyone names a code: IsleFinance Ltd will take term deposits from the public and lend to SMEs, without calling itself a bank.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Take deposits without being a bank.
Wednesday. They record what this permission is used for. NBDT permission / BOM-NBDT.
Thursday. They write what the letter does not cover. Not BOM-BANK. Not FS-1.20.
Friday. They lock the assumptions. Fictional institution. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what BOM-NBDT is used for. The Act matters when IsleFinance Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A deposit-taking finance house
IsleFinance Ltd will take term deposits from the public and lend to SMEs, without calling itself a bank.
Why it fits. NBDT permission / BOM-NBDT.
Different paper
The same promoter asks for bank
The slide says the BOM-NBDT letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not BOM-BANK. Not FS-1.20.
Different paper
The same promoter asks for money changer
The slide says the BOM-NBDT letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not BOM-BANK. Not FS-1.20.
| The promoter asks IsleFinance Ltd to… | This licence? | Why |
|---|---|---|
| A deposit-taking finance house | Yes | NBDT permission / BOM-NBDT. |
| The same promoter asks for bank | No | Keep the neighbouring paper off this desk. Not BOM-BANK. Not FS-1.20. |
| The same promoter asks for money changer | No | Keep the neighbouring paper off this desk. Not BOM-BANK. Not FS-1.20. |
4. Papers that sit beside this one
Not a bank, not a money changer, not FS-1.20, and not FS-2.3. Name the other desk when the work changes: a bank; a money changer; FS-1.20; FS-2.3.
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
A non-bank deposit-taking institution as the Act and Bank licensing practice provide. This is a course teaching category, not an official Bank of Mauritius licence code. Fees as at 1 July 2026: Bank-prescribed fees. Status at cut-off: Teaching category.
Who may hold it. A non-bank deposit-taking institution as the Act and Bank licensing practice provide. Course code is not official.
Published criteria. This is a course teaching category, not an official Bank of Mauritius licence code. Read the actual licence letter and the Banking Act or National Payment Systems Act provision that applies. Use the Bank’s application channels for non-bank deposit-taking. Do not file an FSC section 14 form as a substitute.
Rules, codes and circulars. Banking Act and Bank guidelines. FSC circulars do not create this permission.
6. How to cite BOM-NBDT
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | BOM-NBDT Non-bank deposit-taking institution |
| Legal nature | Non-bank deposit-taking permission (teaching category) |
| Enabling law | Banking Act 2004 · Banking Act deposit-taking framework (not a bank as defined in section 2) |
| Fees as at 1 July 2026 | Bank-prescribed fees. Not GN 119. |
| Status at cut-off | Teaching category. Confirm the live Bank label on the licence letter. |
The structured library card keeps the same coordinates for search. Open BOM-NBDT in the reference library.
Banking Act 2004 ↗Register noteBanking and payment-system legislation ↗Register noteBanking licence applications ↗Register note
PAUSE & REFLECT
Check your understanding.
Three questions to make the ideas stick. Your score is saved on this browser; this is a learning exercise, not a qualification.
Follow the sources.
Each title opens the published text. The register note records the edition used for this course.
- FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗ All published category codes, fees, forms and licensing-criteria columns; consolidation as at 1 July 2026 · Register note
- Financial Services Act 2007 ↗ Sections 2, 14, 14A, 16–18, 25, 33, 71A, 72, 77, 77A, 77B, 77C, 78, 79A; Second Schedule Parts I–III; Fifth Schedule · Register note
- FSC licensing and fees amendment rules 2026 ↗ Rule 3 and replacement First Schedule; rule 4 commencement · Register note
- FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗ 1 July 2026 fee review; annual-fee due date 30 September 2026; FSCOne alternative arrangements · Register note
- FSC rules and regulations directory ↗ Consolidated licensing and fees rules; sector-specific rules including Securities (Licensing) Rules and Family Office Rules · Register note
- Banking Act 2004 ↗ Sections 2, 5, 7 and cash-dealer provisions; definitions of banking, digital, private and Islamic banking business · Register note
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