The Financial Services Commission, Mauritius on Tuesday issued a statement on the latest allegations cited in the US Short seller Hindenburg research report. In its statement the Mauritian regulator said that Mauritius does not permit creation of shell companies and cannot be described as a 'Tax Haven' as has been done by Hindenburg. The FSC is the integrated regulator for the non-banking financial services sector and global business.

"FSC has taken cognizance of the contents of the report published by Hindenburg Research on 10 August 2024 wherein mention has been made of 'Mauritius-based shell entities and Mauritius as a 'tax haven'. The FSC wishes to highlight that the legislative framework in Mauritius does not permit creation of shell companies. Mauritius has a robust framework for global business companies," a statement from FSC Mauritius read.