The Mauritius Investment Corporation Ltd (MIC) today announced that it has officially become an Associate Member of the International Forum of Sovereign Wealth Funds (IFSWF). Through this membership, the MIC is now part of the sovereign wealth fund community, therefore demonstrating its commitment and willingness to uphold the IMF Santiago Principles based on good governance, accountability and transparency.
The IFSWF is an organization of global sovereign wealth funds committed to working together to strengthen the sovereign wealth fund community through defining best practices, dialogue, research and self-assessment. The IFSWF, a prestigious global forum, has over 40 members from various countries worldwide. This Forum comprises large and well-known sovereign funds such as Abu Dhabi Investment Authority, China Investment Corporation, Kuwait Investment Authority, Alaska Permanent Fund Corporation, Korea Investment Corporation and Norges Bank Investment Management, amongst others.
Jitendra Bissessur, the Chief Executive Officer of the MIC, said: "The MIC is privileged to have been admitted as an Associate Member of the IFSWF. This important milestone for Mauritius bears testimony of MIC’s commitment and determination to adhere to the best international practices and standards in line with the IMF Santiago Principles followed by the IFSWF members. Strong governance, comprehensive oversight and solid leadership are rooted in our mandate and at the base of our organization. Established in 2020, the MIC has played a key role in the economic recovery of Mauritius and has become a full-fledged investor and accelerator of growth and development for the country and its population. The MIC shall strive to secure full membership to the IFSWF.”
MIC’s membership application was approved by the IFSWF board on 15th September 2022.