On 10 February 2023, the Bank of Mauritius (“Bank’’) took cognizance of a press release issued by  Trafigura Group Pte (“Trafigura”) inwhich the latter has allegedhaving discovered a systematic fraud  committed by a group of companies connected to and apparently controlled by a counterparty.

That counterparty is linked to one of the ultimate beneficial owners of Silver Bank Limited but is not a  direct or indirect shareholder of Silver Bank Limited nor is he a member of the board of directors of  the bank.

On 10 February 2023, Bloomberg has reported that a freezing order had been granted by a Judge  sitting in London “against that counterparty and several companies connected to him”.

The management of Silver Bank Limited has confirmed that the bank has no exposure to “any of the  alleged companies or to any other linked entities or individuals” (whether as principal or as direct or  indirect guarantor).

According to returns filed with the Bank, Silver Bank Limited does not have any direct or indirect  exposure to any related party.


Silver Bank Limited is adequately capitalized and meets all the applicable legal and prudential norms. The Bank is closely monitoring the situation.


Posted by on Feb 14 2023. Filed under Economie. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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