As indicated below, there are specific limits which apply to lenders and borrowers whenever they transact through P2P Operators:
|Borrower who is a natural person
|Maximum aggregate of MUR 1 million with a minimum of MUR 50,000
|Borrower who is a legal person
|Maximum aggregate of MUR 3 million with a minimum of MUR 50,000
|Lender who is a natural person
|Maximum aggregate of MUR 1.5 million
|Lender who is a legal person
|Maximum aggregate of MUR 3 million
(MUR 40 = USD 1)
It is to be noted that these lending limits will not apply to sophisticated investors who lend through P2P Operators to borrowers who are not resident in Mauritius and when the lending occurs in any other currency. Furthermore, the reimbursement period for the lending through Peer to Peer Lending platforms must not exceed 84 months. For completeness, a Peer to Peer Lending platform is an online portal or electronic platform that facilitates the offering, execution or issuance of funds between prospective lenders and borrowers.
Vaishali Damonaiko, pupil to Sharmilla Bhima, also helped with the preparation of this article.