Regulatory Alerts2009-12-21
Opening, closing or change of location of banking office in Seychelles
The Central Bank of Seychelles mandates written approval for licensed banks seeking to open, close, or relocate branches, agencies, or offices under Section 10 of the Financial Institutions Act 1984. Applicants must submit detailed applications covering site specifics, service offerings, financial justifications, and staffing, while public notices in daily newspapers are required for all three scenarios. Central Bank approvals lapse if unused within six months, temporary closures require immediate public announcements and a 24-hour regulatory report, and all transactions must demonstrate operational viability and regulatory compliance.
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