Mardayah Kona Yerukunondu

Mr Mardayah Kona Yerukunondu was appointed, with effect from the 12th of May 2020, as Chairperson of the Board of the Financial Services Commission.

He is currently the First Deputy Governor of the Bank of Mauritius. Prior to his appointment as First Deputy Governor, Mr Yerukunondu was the country’s first Ombudsperson for Financial Services.

Mr Yerukunondu is a seasoned central banker. He joined the Bank of Mauritius in 1977 and acquired expertise in critical areas ranging from central bank administration, supervision, regulation, policy and compliance. He has played a pivotal role in the modernization of the country’s banking and financial services framework.

Mr Yerukunondu has been an ardent defender of the image and repute of the Mauritian jurisdiction. He has played a key role as official delegate in several country missions focusing on anti-money laundering and combating the financing of terrorism. Mr Yerukunondu has also formed part of national delegations of the ESAAMLG Task Force of Senior Officials.

Mr Yerukunondu has been a speaker in high-level fora including the International Monetary Fund, the Bank for International Settlements, the World Bank Treasury, the European Monetary Union, the Islamic Financial Services Board Summit, RAMP, and in geographies ranging from Europe, America, Asia and Africa.

It is to be noted that Mr Yerukunondu was the Chairperson of the Steering Committee set up by Government to study the social and legal aspects of Islamic Financial Services. He was equally the Chairperson of the Committee set up by the Bank of Mauritius which saw the implementation of the Credit Information Bureau in Mauritius.

Mr Yerukunondu is a sworn barrister. He holds a LLB (Honours) from the University of London as well as qualifications from the Institute of Statisticians. He has written academic papers, namely an article on Islamic Finance published in March 2010 in the chronicle of the Bar Council and a manual on Banking for the Open University.