Regulatory Alerts2023-12-22
Financial Stability Act 2023
The President and National Assembly of Seychelles enacted the Financial Stability Act 2023 to establish a dedicated Financial Stability Committee responsible for overseeing and promoting the stability of the national financial system. Composed of senior officials from the Central Bank, Ministry of Finance, Financial Services Authority, and Financial Intelligence Unit, the committee monitors systemic risks, develops financial policy strategies, and issues formal recommendations to member institutions. The legislation mandates annual reporting to the President and National Assembly, enforces confidentiality and misuse penalties, and grants the committee authority to convene sub-committees, manage dedicated funds, and implement coordinated crisis management protocols.