Regulatory Alerts2020-04-20
Prior Approval Requirement for Operating Hours, Branch Closures, and Service Retractions
The Central Bank of Seychelles mandates that all commercial banks, the Development Bank of Seychelles, and the Seychelles Credit Union must obtain prior regulatory approval before altering operating days or hours and closing branches. The directive additionally requires these financial institutions to notify the regulator in advance of any planned retractions to their standard service offerings. Issued on April 20, 2020, this circular ensures operational consistency and regulatory oversight across the national banking sector.
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