Statistical information Mauritius 2016

Mauritius in the World
top of pageBackground: Although known to Arab and Malay sailors as early as the 10th century Mauritius was first explored by the Portuguese in the 16th century and subsequently settled by the Dutch - who named it in honor of Prince Maurits van NASSAU - in the 17th century. The French assumed control in 1715 developing the island into an important naval base overseeing Indian Ocean trade and establishing a plantation economy of sugar cane. The British captured the island in 1810 during the Napoleonic Wars. Mauritius remained a strategically important British naval base and later an air station playing an important role during World War II for anti-submarine and convoy operations as well as the collection of signals intelligence. Independence from the UK was attained in 1968. A stable democracy with regular free elections and a positive human rights record the country has attracted considerable foreign investment and has one of Africa's highest per capita incomes.
top of pageLocation: Southern Africa island in the Indian Ocean about 800 km (500 mi) east of Madagascar
Geographic coordinates: 20 17 S 57 33 E
Map reference:
AfricaAreaTotal: 2,040 km²
Land: 2,030 km²
Water: 10 km²
Note: includes Agalega Islands Cargados Carajos Shoals and Rodrigues
Rank: 181
Comparative: almost 11 times the size of Washington DC
Land boundaries: 0 km
Coastline: 177 km
Maritime claims: measured from claimed archipelagic straight baselines
Territorial sea: 12 nm
Exclusive economic zone: 200 nm
Continental shelf: 200 nm or to the edge of the continental margin
Climate: tropical modified by southeast trade winds; warm dry winter (May to November); hot wet humid summer (November to May)
Terrain: small coastal plain rising to discontinuous mountains encircling central plateau
ElevationMean elevation: NA
Elevation extremes: lowest point: Indian Ocean 0 m: highest point: Mont Piton 828 m
Natural resources: arable land: fish
Land useAgricultural land: 43.8%
arable land: 38.4%
permanent crops: 2%
permanent pasture: 3.4%
Forest: 17.3%
Other: 38.9%
Irrigated land: 190 km² (2012)
Major riversMajor watersheds area km²Total water withdrawalTotal renewable water resourcesNatural hazards: cyclones (November to April); almost completely surrounded by reefs that may pose maritime hazards
GeographyNote: the main island from which the country derives its name is of volcanic origin and is almost entirely surrounded by coral reefs; former home of the dodo a large flightless bird related to pigeons driven to extinction by the end of the 17th century through a combination of hunting and the introduction of predatory species
top of pagePopulation: 1,348,242 (July 2016 est.)
Rank: 157
Growth rate: 0.61% (2016 est.)
Growth rate rank: 153
Below poverty line: 8% (2006 est.)
NationalityNoun: Mauritian
Adjective: Mauritian
Ethnic groups: Indo-Mauritian 68% Creole 27% Sino-Mauritian 3% Franco-Mauritian 2%
Languages: Creole 86.5% Bhojpuri 5.3% French 4.1% two languages 1.4% other 2.6% (includes English the official language which is spoken by less than 1% of the population) unspecified 0.1% (2011 est.)
Religions: Hindu 48.5% Roman Catholic 26.3% Muslim 17.3% other Christian 6.4% other 0.6% none 0.7% unspecified 0.1% (2011 est.)
Demographic profile:
Mauritius has transitioned from a country of high fertility and high mortality rates in the 1950s and mid-1960s to one with among the lowest population growth rates in the developing world today. After World War II Mauritius’ population began to expand quickly due to increased fertility and a dramatic drop in mortality rates as a result of improved health care and the eradication of malaria. This period of heightened population growth – reaching about 3% a year – was followed by one of the world’s most rapid birth rate declines.
The total fertility rate fell from 6.2 children per women in 1963 to 3.2 in 1972 – largely the result of improved educational attainment especially among young women accompanied by later marriage and the adoption of family planning methods. The family planning programs’ success was due to support from the government and eventually the traditionally pronatalist religious communities which both recognized that controlling population growth was necessary because of Mauritius’ small size and limited resources. Mauritius’ fertility rate has consistently been below replacement level since the late 1990s a rate that is substantially lower than nearby countries in southern Africa.
With no indigenous population Mauritius’ ethnic mix is a product of more than two centuries of European colonialism and continued international labor migration. Sugar production relied on slave labor mainly from Madagascar Mozambique and East Africa from the early 18th century until its abolition in 1835 when slaves were replaced with indentured Indians. Most of the influx of indentured labor – peaking between the late 1830s and early 1860 – settled permanently creating massive population growth of more than 7% a year and reshaping the island’s social and cultural composition. While Indians represented about 12% of Mauritius’ population in 1837 they and their descendants accounted for roughly two-thirds by the end of the 19th century. Most were Hindus but the majority of the free Indian traders were Muslims.
Mauritius again turned to overseas labor when its success in clothing and textile exports led to a labor shortage in the mid-1980s. Clothing manufacturers brought in contract workers (increasingly women) from China India and to a lesser extent Bangladesh and Madagascar who worked longer hours for lower wages under poor conditions and were viewed as more productive than locals. Downturns in the sugar and textile industries in the mid-2000s and a lack of highly qualified domestic workers for Mauritius’ growing services sector led to the emigration of low-skilled workers and a reliance on skilled foreign labor. Since 2007 Mauritius has pursued a circular migration program to enable citizens to acquire new skills and savings abroad and then return home to start businesses and to invest in the country’s development.
Age structure0-14 years: 20.44%
15-24 years: 15.06%
25-54 years: 43.87%
55-64 years: 11.37%
65 years and over: 9.25% (2016 est.)
Dependency ratiosTotal dependency ratio: 40.6%
Youth dependency ratio: 27.2%
Elderly dependency ratio: 13.4%
Potential support ratio: 7.4%
Median ageTotal: 34.8 years
Male: 33.9 years
Female: 35.8 years
Rank: 77
Population growth rate: 0.61% (2016 est.)
Rank: 153
Birth rate: 13.1 births/1000 population (2016 est.)
Rank: 151
Death rate: 7 deaths/1000 population (2016 est.)
Rank: 134
Net migration rate: 0 migrant(s)/1000 population (2016 est.)
Rank: 92
Population distributionUrbanizationUrban population: 39.7% of total population
Rate of urbanization: -0.08% annual rate of change
Major urban areasPopulation: PORT LOUIS (capital) 135,000 (2014)
EnvironmentCurrent issues: water pollution degradation of coral reefs
International agreements party to: Antarctic-Marine Living Resources Biodiversity Climate Change Climate Change-Kyoto Protocol Desertification Endangered Species Environmental Modification Hazardous Wastes Law of the Sea Marine Life Conservation Ozone Layer Protection Ship Pollution Wetlands
International agreements signed but not ratified: none of the selected agreements
Air pollutantsSex ratioAt birth: 1.05 male/female
0-14 years: 1.04 male/female
15-24 years: 1.02 male/female
25-54 years: 1 male/female
55-64 years: 0.9 male/female
65 years and over: 0.68 male/female
Total population: 0.97 male/female
Mothers mean age at first birthMaternal mortality ratioInfant mortality rateTotal: 10 deaths/1000 live births
Male: 11.9 deaths/1000 live births
Female: 8.1 deaths/1000 live births
Rank: 136
Life expectancy at birthTotal population: 75.6 years
Male: 72.2 years
Female: 79.2 years
Rank: 100
Total fertility rate: 1.75 children born/woman (2016 est.)
Rank: 164
Contraceptive prevalence rateDrinking water source:
urban: 99.9% of population
rural: 99.8% of population
total: 99.9% of population
urban: 0.1% of population
rural: 0.2% of population
total: 0.1% of population (2015 est.)
Current health expenditurePhysicians density: 1.62 physicians/1000 population (2013)
Hospital bed density: 3.4 beds/1000 population (2011)
Sanitation facility access:
urban: 93.9% of population
rural: 92.6% of population
total: 93.1% of population
urban: 6.1% of population
rural: 7.4% of population
total: 6.9% of population (2015 est.)
Hiv/AidsAdult prevalence rate: 0.88% (2015 est.)
Adult prevalence rate rank: 49
People living with hivaids: 8,200 (2015 est.)
People living with hivaids rank: 101
Deaths: 400 (2015 est.)
Deaths rank: 88
Major infectious diseasesObesity adult prevalence rate: 18.8% (2014)
Rank: 105
Alcohol consumptionTobacco useChildren under the age of 5 years underweightEducation expenditures: 5% of GDP (2014)
Rank: 123
LiteracyDefinition: age 15 and over can read and write
Total population: 90.6%
Male: 92.9%
Female: 88.5%
School life expectancy primary to tertiary educationTotal: 15 years
Male: 15 years
Female: 16 years
Youth unemploymenttop of pageCountry nameConventional long form: Republic of Mauritius
Conventional short form: Mauritius
Local long form: Republic of Mauritius
Local short form: Mauritius
Note: island named after Prince Maurice VAN NASSAU stadtholder of the Dutch Republic in 1598
Government type: parliamentary republic
CapitalName: Port LouisGeographic coordinates: 20 09 S 57 29 E
Time difference: UTC+4
Administrative divisions: 9 districts and 3 dependencies*; Agalega Islands* Black River Cargados Carajos Shoals* Flacq Grand Port Moka Pamplemousses Plaines Wilhems Port Louis Riviere du Rempart Rodrigues* Savanne
Dependent areasIndependence: 12 March 1968 (from the UK)
National holiday: Independence Day 12 March (1968); note - also became Republic Day (1992)
Constitution: several previous; latest adopted 12 March 1968; amended many times last in 2015 (2016)
Legal system: civil legal system based on French civil law with some elements of English common law
International law organization participation: accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
CitizenshipCitizenship by birth: yes
Citizenship by descent: yes
Dual citizenship recognized: yes
Residency requirement for naturalization: 5 out of the previous 7 years including the last 12 months
Suffrage: 18 years of age; universal
Executive branchChief of state: President Ameenah GURIB-FAKIM ; Vice President Paramaslyum (aka Barlen) Pillay VYAPOORY (since 4 April 2016)
Head of government: Prime Minister Sir Anerood JUGNAUTH
Cabinet: Cabinet of Ministers appointed by the president on the recommendation of the prime minister
Electionsappointments: president and vice president indirectly elected by the National Assembly for a 5-year term ; election last held on 4 June 2015 (next to be held in 2020); prime minister and deputy prime minister appointed by the president responsible to the National Assembly
Election results: Ameenah GURIB-FAKIM elected president by the National Assembly - unanimous vote
Legislative branchDescription: unicameral National Assembly or Assemblee Nationale
Elections: last held on 10 December 2014 ; note - the National Assembly was dissolved on 6 October 2014 resulting in early elections
Election results: percent of vote by party - Alliance Lepep 49.8% PTR-MMM 38.5% FSM 2.1% OPR 1.1% other 8.5%; elected seats by party - Alliance Lepep 47 PTR-MMM 13 OPR 2; appointed seats Alliance Lepep 4 PTR-MMM 3
Judicial branchHighest court: Supreme Court of Mauritius ; note - the Judicial Committee of the Privy Council (in London) serves as the final court of appeal
Judge selection and term of office: chief justice appointed by the president after consultation with the prime minister; senior puisne judge appointed by the president with the advice of the chief justice; other puisne judges appointed by the president with the advice of the Judicial and Legal Commission a 4-member body of judicial officials including the chief justice; all judges serve until retirement at age 62
Subordinate courts: Court of Civil Appeal; Court of Criminal Appeal; Public Bodies Appeal Tribunal
Political parties and leaders:
Alliance Lepep (Alliance of the People) [Sir Anerood JUGNAUTH] (coalition including MSM PMSD and ML)
Labor Party (Parti Travailliste) or PTR or MLP [Navinchandra RAMGOOLAM]
Mauritian Militant Movement (Mouvement Militant Mauricien) or MMM [Paul BERENGER]
Mauritian Social Democratic Party (Parti Mauricien Social Democrate) or PMSD [Xavier Luc DUVAL]
Mauritian Solidarity Front (Front Solidarite Mauricienne) or FSM [Cehl FAKEERMEEAH known as Cehl MEEAH]
Militant Socialist Movement (Mouvement Socialist Mauricien) or MSM [Pravind JUGNAUTH]
Muvman Liberater or ML [Ivan COLLENDAVELLOO]
Rodrigues Peoples Organization (Organisation du Peuple Rodriguais) or OPR [Serge CLAIR]
International organization participation: ACP AfDB AOSIS AU C CD COMESA CPLP (associate) FAO G-77 IAEA IBRD ICAO ICC (NGOs) ICCt ICRM IDA IFAD IFC IFRCS IHO ILO IMF IMO IMSO InOC Interpol IOC IOM IPU ISO ITSO ITU ITUC (NGOs) MIGA NAM OIF OPCW PCA SAARC (observer) SADC UN UNCTAD UNESCO UNIDO UNWTO UPU WCO WFTU (NGOs) WHO WIPO WMO WTO
Diplomatic representationIn the us chief of mission: Ambassador Sooroojdev PHOKEER
In the us chancery: 1709 N Street NW Washington DC 20,036; administrative offices at 3,201 Connecticut Avenue NW Suite 441 Washington DC 20,036
In the us telephone: [1] 244-1491 through 1492
In the us FAX: [1] 966-0983
From the us chief of mission: Ambassador ; Charge d'Affaires Melanie ZIMMERMAN (since 2016); note - also accredited to Seychelles
From the us embassy: 4th Floor Rogers House John Kennedy Avenue Port Louis
From the us mailing address: international mail: P.O. Box 544 Port Louis; US mail: American Embassy Port Louis US Department of State Washington DC 20,521-2,450
From the us telephone: [230] 202-4,400
From the us FAX: [230] 208-9,534
Flag description: four equal horizontal bands of red (top) blue yellow and green; red represents self-determination and independence blue the Indian Ocean surrounding the island yellow has been interpreted as the new light of independence golden sunshine or the bright future and green can symbolize either agriculture or the lush vegetation of the island
National symbols: dodo bird Trochetia Boutoniana flower; national colors: red blue yellow green
National anthemName: 'Motherland'
Lyrics and music: Jean Georges PROSPER/Philippe GENTIL
Note: adopted 1968
National heritagetop of pageEconomy overview:
Since independence in 1968 Mauritius has undergone a remarkable economic transformation from a low-income agriculturally based economy to a diversified upper middle-income economy with growing industrial financial and tourist sectors. Mauritius has achieved steady growth over the last several decades resulting in more equitable income distribution increased life expectancy lowered infant mortality and a much-improved infrastructure.
The economy currently rests on sugar tourism textiles and apparel and financial services but is expanding into fish processing information and communications technology and hospitality and property development. Sugarcane is grown on about 90% of the cultivated land area and accounts for 15% of export earnings. The government's development strategy centers on creating vertical and horizontal clusters of development in these sectors. Mauritius has attracted more than 32,000 offshore entities many aimed at commerce in India South Africa and China. Investment in the banking sector alone has reached over $1 billion. Mauritius’ textile sector has taken advantage of the Africa Growth and Opportunity Act a preferential trade program that allows duty free access to the US market with Mauritian exports to the US growing by 40% from 2000 to 2014.
Mauritius' sound economic policies and prudent banking practices helped to mitigate negative effects of the global financial crisis in 2008-09. GDP grew in the 3-4% per year range in 2010-14 and the country continues to expand its trade and investment outreach around the globe. Growth in the US and Europe fostered goods and services exports including tourism while lower oil prices kept inflation low in 2015.
Real gdp purchasing power parity:
$24.57 billion (2015 est.)
$23.76 billion (2014 est.)
$22.93 billion (2013 est.)
Note: data are in 2015 US dollars
Rank: 139
Real gdp growth rate:
3.4% (2015 est.)
3.6% (2014 est.)
3.2% (2013 est.)
Rank: 84
Real gdp per capita:
$19,500 (2015 est.)
$18,900 (2014 est.)
$18,200 (2013 est.)
Note: data are in 2015 US dollars
Rank: 87
Gross national saving:
14.8% of GDP (2015 est.)
15.1% of GDP (2014 est.)
15.3% of GDP (2013 est.)
Rank: 111
Gdp composition by sector of origin
Gdp composition by end useHousehold consumption: 74.2%
Government consumption: 14.4%
Investment in fixed capital: 17.7%
Investment in inventories: 3.5%
Exports of goods and services: 49.8%
Imports of goods and services: -59.6%
Gdp composition by sector of originAgriculture: 4%
Industry: 22.3%
Services: 73.7%
Agriculture products: sugarcane tea corn potatoes bananas pulses; cattle goats; fish
Industries: food processing (largely sugar milling) textiles clothing mining chemicals metal products transport equipment nonelectrical machinery tourism
Industrial production growth rate: 2% (2015 est.)
Rank: 108
Labor force: 614,300 (2015 est.)
Rank: 156
By occupation agriculture and fishing: 9%
By occupation construction and industry: 30%
By occupation transportation and communication: 7%
By occupation trade restaurants hotels: 22%
By occupation finance: 6%
By occupation other services: 25%
Unemployment rate:
8% (2015 est.)
7.8% (2014 est.)
Rank: 90
Youth unemploymentPopulation below poverty line: 8% (2006 est.)
Gini indexHousehold income or consumption by percentage shareLowest 10: NA%
Highest 10: NA%
Distribution of family income gini index:
35.9 (2012 est.)
39 (2006 est.)
Rank: 88
BudgetRevenues: $2.341 billion
Expenditures: $2.764 billion
Surplus or deficit: -3.6% of GDP (2015 est.)
Surplus or deficit rank: 134
Taxes and other revenues: 20.2% of GDP (2015 est.)
Rank: 158
Public debt:
63.7% of GDP (2015 est.)
61.5% of GDP (2014 est.)
Rank: 58
RevenueFiscal year: 1 July - 30 June
Inflation rate consumer prices:
1.3% (2015 est.)
3.2% (2014 est.)
Rank: 96
Central bank discount rate: 9% (31 December 2010)
Rank: 36
Commercial bank prime lending rate:
8.5% (31 December 2015 est.)
8.5% (31 December 2014 est.)
Rank: 98
Stock of narrow money:
$2.547 billion (31 December 2015 est.)
$2.634 billion (31 December 2014 est.)
Rank: 120
Stock of broad money:
$12.6 billion (31 December 2014 est.)
$12.15 billion (31 December 2013 est.)
Rank: 100
Stock of domestic credit:
$13.28 billion (31 December 2015 est.)
$14.08 billion (31 December 2014 est.)
Rank: 97
Market value of publicly traded shares:
$7.093 billion (31 December 2015 est.)
$7.667 billion (31 December 2014 est.)
$7.442 billion (31 December 2013 est.)
Rank: 80
Current account balance:
-$590 million (2015 est.)
-$713 million (2014 est.)
Rank: 103
Exports:
$2.685 billion (2015 est.)
$3.094 billion (2014 est.)
Rank: 130
Commodities: clothing and textiles sugar cut flowers molasses fish primates (for research)
Partners: UK 13.2% UAE 12.4% France 11.9% US 10.7% South Africa 8.6% Madagascar 6.5% Italy 5.4% Spain 4.4% (2015)
Imports:
$4.526 billion (2015 est.)
$5.354 billion (2014 est.)
Rank: 128
Commodities: manufactured goods capital equipment foodstuffs petroleum products chemicals
Partners: India 18.7% China 17.8% France 7.1% South Africa 6.5% Vietnam 4.4% (2015)
Reserves of foreign exchange and gold:
$4.26 billion (31 December 2015 est.)
$3.919 billion (31 December 2014 est.)
Rank: 96
Debt external:
$10.62 billion (31 December 2015 est.)
$11.29 billion (31 December 2014 est.)
Rank: 107
Stock of direct foreign investment at home: NA
Stock of direct foreign investment abroad: $N/A
Exchange rates:
Mauritian rupees (MUR) per US dollar -
35.057 (2015 est.)
30.622 (2014 est.)
30.622 (2013 est.)
30.05 (2012 est.)
28.706 (2011 est.)
top of pageElectricityAccess electrification total population: 100%
Production: 2.8 billion kWh (2014 est.)
Production rank: 134
Consumption: 2.6 billion kWh (2014 est.)
Consumption rank: 139
Exports: 0 kWh (2013 est.)
Exports rank: 169
Imports: 0 kWh (2013 est.)
Imports rank: 175
Installed generating capacity: 1.1 million kW (2014 est.)
Installed generating capacity rank: 129
Generation sources fossil fuels: 96.5% of total installed capacity (2013 est.)
Generation sources fossil fuels rank: 60
Generation sources nuclear: 0% of total installed capacity (2013 est.)
Generation sources nuclear rank: 143
Generation sources hydroelectricity: 3.3% of total installed capacity (2013 est.)
Generation sources hydroelectricity rank: 130
Generation sources other renewable sources: 0.2% of total installed capacity (2013 est.)
Generation sources other renewable sources rank: 108
CoalPetroleumPetroleum total petroleum production: 0 bbl/day (2015 est.)
Petroleum total petroleum production rank: 169
Crude oil exports: 0 bbl/day (2013 est.)
Crude oil exports rank: 163
Crude oil imports: 0 bbl/day (2013 est.)
Crude oil imports rank: 98
Crude oil proven reserves: 0 bbl (1 January 2016 es)
Crude oil proven reserves rank: 169
Crude oilRefined petroleumProducts production: 0 bbl/day (2013 est.)
Products production rank: 212
Products consumption: 25,000 bbl/day (2014 est.)
Products consumption rank: 123
Products exports: 0 bbl/day (2013 est.)
Products exports rank: 204
Products imports: 25,960 bbl/day (2013 est.)
Products imports rank: 103
Natural gasProduction: 0 m³ (2013 est.)
Production rank: 104
Consumption: 0 m³ (2013 est.)
Consumption rank: 172
Exports: 0 m³ (2013 est.)
Exports rank: 148
Imports: 0 m³ (2013 est.)
Imports rank: 101
Proven reserves: 0 m³ (1 January 2014 es)
Proven reserves rank: 172
Carbon dioxide emissionsFrom consumption of energy: 5.4 million Mt (2013 est.)
From consumption of energy rank: 127
Energy consumption per capitatop of pageTelephonesFixed lines total subscriptions: 380,000
Fixed lines subscriptions per 100 inhabitants: 28
Fixed lines rank: 110
Mobile cellular total: 1.762 million
Mobile cellular subscriptions per 100 inhabitants: 132
Mobile cellular rank: 153
Telephone systemGeneral assessment: small system with good service
Domestic: monopoly over fixed-line services terminated in 2005; fixed-line teledensity roughly 25 per 100 persons; mobile-cellular services launched in 1989 with current teledensity roughly 130 per 100 persons
International: country code - 230; landing point for the SAFE submarine cable that provides links to Asia and South Africa where it connects to the SAT-3/WASC submarine cable that provides further links to parts of East Africa and Europe; satellite earth station - 1 Intelsat ; new microwave link to Reunion; HF radiotelephone links to several countries (2015)
Broadcast media: the government maintains control over TV broadcasting through the Mauritius Broadcasting Corporation (MBC) which operates 3 analog and 10 digital TV stations; MBC is a shareholder in a local company that operates 2 pay-TV stations; the state retains the largest radio broadcast network with multiple stations; several private radio broadcasters have entered the market since 2001; transmissions of at least 2 international broadcasters are available (2007)
InternetCountry code: .mu
Users total: 672,000
Users percent of population: 50.1%
Users rank: 175
Broadband fixed subscriptionstop of pageMilitary expenditures:
0.19% of GDP (2012)
0.16% of GDP (2011)
0.19% of GDP (2010)
Rank: 130
Military and security forcesMilitary service age and obligationSpace programTerrorist groupstop of pageNational air transport systemNumber of registered air carriers: 1
Inventory of registered aircraft operated by air carriers: 13
Annual passenger traffic on registered air carriers: 1,466,527
Annual freight traffic on registered air carriers: 168.773 million mt-km
Civil aircraft registration country code prefix: 3B (2016)
Airports: 5 (2013)
Rank: 182
With paved runways total: 2
With paved runways over 3047 m: 1
With paved runways 914 to 1523 m: 1
With unpaved runways total: 3
With unpaved runways 914 to 1523 m: 2
With unpaved runways under 914 m: 1
HeliportsPipelinesRailwaysRoadwaysTotal: 2,149 km
Paved: 2,149 km (2012)
Rank: 174
WaterwaysMerchant marineTotal: 4
By type: passenger/cargo 2 petroleum tanker 1 refrigerated cargo 1
Rank: 132
Ports and terminalsMajor seaport: Port Louis
top of pageDisputes international: Mauritius and Seychelles claim the Chagos Islands; claims French-administered Tromelin Island
Refugees and internally displaced personsIllicit drugs: consumer and transshipment point for heroin from South Asia; small amounts of cannabis produced and consumed locally; significant offshore financial industry creates potential for money laundering but corruption levels are relatively low and the government appears generally to be committed to regulating its banking industry