MAURITIUS MOVES TO CHEQUE TRUNCATION
The Bank of Mauritius (the Bank) and the Mauritius Bankers Association Limited (MBA) are pleased to announce the forthcoming implementation of the Cheque Truncation System (CTS) – a modern system for clearing cheques. The Cheque Truncation System is an image-based clearing system, which replaces the physical cheque flow with electronic information flow throughout the clearing cycle. This process, called truncation, is the fastest and most secure mode for clearing cheques. It eliminates the actual cheque movement involved in clearing and hence reduces the delays associated with the movements of cheques. The system will, however,entail no visible change for the consumer.
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