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Forward FX transactions

FORWARD FX TRANSACTIONS

Forward transactions are intended for clients who want to fix a favourable current exchange rate for the future. It is used extensively for hedging adverse currency exposures. The rate of exchange is based upon the prevailing spot rate as adjusted to take account of interest rate differentials between the two currencies for the period of the contract. No separate commissions are payable at the maturity of the forward contracts.

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Mrs. K.Ranmondhur-Ruggoo
Independent Director

Mrs. K.Ranmondhur-Ruggoo holds the position of Deputy Permanent Secretary at the Prime Minister’s Office. She has a long career in the civil service, having served nearly 30 years in various ministries.

Mrs Ranmondhur-Ruggoo holds an MBA from University of Technology Mauritius, a BA in Financial Services from Napier University and a Diploma in Public Administration and Management from University of Mauritius

Mrs.V.K.Sumputh
Independent Director

Mr BEEJAN Manickchand
Chairman & Independent Director

Mr. Manickchand Beejan has a long and successful career with work experience in Government, state-owned enterprises, and private sector companies. He sat in capacities ranging from Chairman, Executive Director, and Independent Director on more than 40 Boards of companies that are involved in a diverse range of activities including insurance, equity investment, portfolio and wealth management, fund management, casinos, housing, property development, sugar sector, IT sector, commerce, and education.

Mr Beejan has more than 35 years of professional experience starting his career as Government Economist and successively moving up to the level of Managing Director of The State Investment Corporation Limited. His areas of competence include project conception, development, and implementation, designing innovative financial instruments, designing and implementing business processes, and long-range asset-liability matching with scenario planning. Mr Beejan was the Managing Director of the State Investment Corporation Limited and held directorship on various investee companies and also the Chairman of State Insurance Company of Mauritius Ltd. Mr Beejan is currently the Chairman of MauBank Holdings Ltd and EAMC Ltd.

Mr Beejan holds a B.A. Hons with Distinction in Economics from a Canadian University and an MSc in Financial Management from the University of London. His pastime includes complex modelling in EXCEL and trading at the stock market. He is a Certified Advanced Financial Modeller.

Mr RAMPERSAD Ravin
Non-Executive Director

Mr Ravin Rampersad is currently the CEO of SME Mauritius, having spent a major part of his career at senior management positions in the private sector both locally and abroad. He has curated experience in the FMCG sector and has successfully evolved in areas of Operations, Marketing, Logistics and Business development mostly on behalf of multinationals.

Mr Rampersad is also well versed in Strategic development, Business Restructuring and International Business, and as part of the senior Management teams, has been Member of the Board of Directors of several private sector companies.

Ravin Rampersad holds a Master in Business Administration, a Master in Marketing and Innovation, is a Chartered Manager, a Chartered Marketer and a Fellow of the Chartered Management Institute, UK.

Mr CODABUX Javed
Independent Director

Mr Javed Codabux is an Accountant, and is currently working as Accountant and Manager at D & S LINES LTD (Accredited Agent for Jubilee Insurance). Prior that, he has worked in the accounting departments of African Reinsurance Corporation, Lamco International Insurance and Cheribinny Ltd.

Mr Codabux holds an Executive Master in Business Administration {EMBA} with First Class(Hons) from EIILM University, Sikkim, INDIA and completed his Level 2 ACCA qualifications. He also holds a Higher National Diploma in Business Finance, BTEC, EDexcel Level 5 - EDEXCEL UNIVERSITY (U.K) under the programme of Resource Development International(RDI) U.K.

He is a member of the Mauritius Institute of Directors.

Mr. Codabux has served as Board member on ex Mauritius Post and Cooperative Bank from March 2015 to January 2016.

Mr NICOLAS Jean Marie Cyril
Independent Director

Mr. Nicolas holds a Diploma in Marketing Management, South Africa and a Diploma in Human Resource, South Africa. He is a Registered trainer with MQA since 1988 and President of the Indian Ocean Marketing Association. He is also a Director of Effective Coaching Ltd and has recently appointed as Consultant for the JSI Johannesburg School of Investment.

Mr NILAMBER Anoop
Non-Executive Director

Mr. Nilamber is currently the CEO at Mauritius Duty Free Paradise Co Ltd, he has also been an Economic Advisor at the Ministry of Finance and Economic Development. Prior to joining the government, Anoop was a Corporate Finance Banker at HSBC in France and at the Mauritius Commercial Bank. In Paris, Anoop was also a part-time lecturer in Finance at Universite Pantheon Assas (Paris II) where he graduated in Banking and Finance.

Mr GOKHOOL Ashvin Jain
Independent Director

Mr. Gokhool is a Fellow Member of the Association of Chartered Certified Accountants (UK), a Certified Financial Consultant (USA), an Associate Member of the Association of Certified Fraud Examiners (USA), a Member of the Mauritius Institute of Public Accountants (MIPA) and a Founder Member of the Institute of Certified Public Accountants of Rwanda (ICPAR). He is a qualified stockbroker from the Stock Exchange Commission (Australia) and also holds an Auditor’s Licence from the Financial Reporting Council (FRC).

Mr. Gokhool is the Managing Partner at KSi (Mauritius), Public Accountants & Business Advisers and Managing Director of AG Consultants Ltd, Financial and Management Consultants. Both are member firms of Morison KSi (UK). Since 1987, he successively worked for Deloitte (Mauritius), PricewaterhouseCoopers (Mauritius, Paris and London), Mauritius Tourism Promotion Authority, Tourism Authority, Tourism Employees Welfare Fund. He also served as Advisor to the Minister of Agriculture, Food Technology & Natural Resources and the Minister of Tourism and Leisure. He is an Independent Financial Analyst and worked with the Restructuring Working Group of the National Resilience Fund at The State Investment Corporation.

Presently, he acts as the Chairman of the National Transport Corporation Board. He is an independent non-executive Director at the Bank as well as the Chairman of the Audit Committee.

Mr SOOKUN Gooroodeo
Chairman & Independent Director

Mr Gooroodeo (Mahen) Sookun FCCA, MBA, CSK

Mr. Sookun is a fellow of the Association of Chartered Certified Accountants (ACCA) and holds an MBA (Finance) from the University of Leicester (UK). He has served in private and public companies during the last thirty years as a Corporate Finance Executive, in Mauritius and across Africa, in diverse sectors such as Public Utilities, Agriculture, Textile, Real Estate and Mining.

In Mauritius, Mr Sookun has served as a Finance Executive at the Central Electricity Board, FUEL Sugar Estate, Palmar Textiles Ltd, and as Head of Finance of the largest Real Estate Development Company, Anahita Estates Ltd. Currently Mr Sookun is the Executive Director of SB ProConsult Ltd, a Chartered Certified Accountancy Firm, which provides accounting tax and advisory services to a range of local and international clients.

The international career of Mr Sookun started in 1999 as a Finance Executive in Sena Sugar Estates in Mozambique (project developed by a Mauritian Consortium). From 2005 to 2007, he was the Group Finance Manager of Titanium Resources Limited, a company involved in Mineral Resources Development and Mining in Sierra Leone and listed on the AIM market of the London Stock Exchange. From 2008 to 2013, he was also the Director, CFO and Secretary of Diamond Fields International Ltd, a public company listed in Toronto having mining assets across Africa. From 2012 to 2017, Mr Sookun has also served as Director and CFO of an Australian (ASX) listed company involved in Mineral Sands Exploration investments in Africa

Mr MUNGAR Premchand
Chief Executive

Mr Premchand Mungar is a banker with 36 years of experience at managerial and executive levels of commercial, offshore, development banking as well as of financial services.

He has worked with the African Trade and Development Bank (TDB) Group, a multilateral financial institution and the financial arm of the Common Market for Eastern and Southern Africa (COMESA), based in Nairobi, Kenya for 16 years where he was engaged in institutional transformation, corporate strategy and policy formulation, and also formed part of TDB’s executive committees. In 2017, he ended his career at the Group as the General Counsel and Senior Director, but continued as a Senior Adviser to the TDB Group after his return to Mauritius. Prior to that, Mr Mungar was with the SBM and State Bank International in Mauritius.

Since December 2017, he serves as an independent non-executive member of the Board of Directors of the Financial Services Commission Mauritius, where he is also the Chairperson of the Audit and Risk Committee.

Mr Mungar holds a Masters Degree in Finance and Financial Law from the University of London, and an LLB from the University of Mauritius. He is a qualified attorney and has been a member of the Mauritius Law Society since 1995.

He has been credited with several commendations and was awarded the 2016 President’s Excellence Award in recognition of his outstanding contributions to the affairs of the TDB Group.

Forward FX transactions

FORWARD FX TRANSACTIONS

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Mrs. K.Ranmondhur-Ruggoo
Independent Director

Mrs.V.K.Sumputh
Independent Director

Mr BEEJAN Manickchand
Chairman & Independent Director

Mr RAMPERSAD Ravin
Non-Executive Director

Mr CODABUX Javed
Independent Director

Mr NICOLAS Jean Marie Cyril
Independent Director

Mr NILAMBER Anoop
Non-Executive Director

Mr GOKHOOL Ashvin Jain
Independent Director

Mr SOOKUN Gooroodeo
Chairman & Independent Director

Mr MUNGAR Premchand
Chief Executive

Forward FX transactions

FORWARD FX TRANSACTIONS

Continue Discovering

Mrs. K.Ranmondhur-RuggooIndependent Director

Mrs.V.K.SumputhIndependent Director

Mr BEEJAN ManickchandChairman & Independent Director

Mr RAMPERSAD RavinNon-Executive Director

Mr CODABUX Javed Independent Director

Mr NICOLAS Jean Marie Cyril Independent Director

Mr NILAMBER AnoopNon-Executive Director

Mr GOKHOOL Ashvin Jain Independent Director

Mr SOOKUN GooroodeoChairman & Independent Director

Mr MUNGAR PremchandChief Executive

Mrs. K.Ranmondhur-Ruggoo
Independent Director

Mrs.V.K.Sumputh
Independent Director

Mr BEEJAN Manickchand
Chairman & Independent Director

Mr RAMPERSAD Ravin
Non-Executive Director

Mr CODABUX Javed
Independent Director

Mr NICOLAS Jean Marie Cyril
Independent Director

Mr NILAMBER Anoop
Non-Executive Director

Mr GOKHOOL Ashvin Jain
Independent Director

Mr SOOKUN Gooroodeo
Chairman & Independent Director

Mr MUNGAR Premchand
Chief Executive