Regulatory Alerts2022-03-04
Circular to BDC Submission of FX Returns
The Central Bank of Seychelles mandates all Bureaux de Change to submit designated foreign exchange returns via email according to specified daily and next-day deadlines. The circular outlines precise submission schedules for same-day transactions, FX conversions, exchange rates, daily balances, and unmet demand using prescribed formats. Non-compliance constitutes an offence under the Central Bank of Seychelles Act and Financial Institutions Act, exposing defaulting institutions to fines up to R400,000 and six months imprisonment.
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