Regulatory Alerts2020-04-09
Central Bank of Seychelles Temporary Closure Directive for Bureaux de Change
The Central Bank of Seychelles has mandated the temporary closure of all Bureaux de Change from April 9 to April 29, 2020, following Department of Health measures designating them as non-essential services. Affected institutions must display public notices at their premises and are exempt from submitting foreign exchange transaction reports during the closure period, with dispensations available upon request. BDCs must maintain compliance with all applicable operational laws while operations remain suspended.
# CENTRAL BANK OF SEYCHELLES
P. O. Box 701, Victoria, Seychelles
---
**Telephone:** [+248] 428 20 00
**Fax:** [+248] 432 36 65
**E-mail:** enquiries@cbs.sc
**Ref:** FSD/BC/GEN 1
**Date:** April 9, 2020
---
## To All Bureaux de Change
### Temporary closure - Covid-19 Restriction of Movements
In view of recent measures announced by the Department of Health (DOH) whereby only essential services are mandated to remain open, the Central Bank of Seychelles (CBS) wishes to advise that the services of Bureaux de Change (BDCs) does not fall within those listed as essential. To this end, all BDCs are henceforth required to remain temporarily closed during the period of April 9, 2020 to April 29, 2020.
Accordingly, kindly ensure that the general public is informed of the temporary closure by means of displaying a notice at a conspicuous place at your premises during the time of closure.
BDCs are not required to report information pertaining to foreign exchange transactions during the period in which there is no trade. Should BDCs be unable to meet statutory reporting requirements during this time of closure, CBS can provide the necessary dispensation upon application for such requests. Nevertheless, BDCs should ensure adherence to all applicable laws governing its operations.
CBS trusts in your adherence to the above.
Yours sincerely,
C. Abel (Ms)
Governor
Share