Regulatory Alerts2020-04-08
Measures on Declaration and Payment of Dividends in Light of Covid-19
The Central Bank of Seychelles prohibits all licensed banks from declaring dividends for the financial years ending December 31, 2019 and 2020. Banks must transfer the recorded profits from these periods to retained earnings, and the regulator will withhold approval for related dividend payments and overseas profit transfers. These mandatory measures aim to strengthen capital buffers and mitigate the adverse economic impacts of the Covid-19 pandemic on the national financial sector.
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