Regulatory Alerts2012-11-27
Central Bank of Seychelles (Credit Information System) Regulations, 2012
The Central Bank of Seychelles issued these 2012 regulations to establish a formal Credit Information System governing how licensed banks and participating institutions collect, report, and manage credit data. The framework defines key operational terms such as applicants, business days, and business continuity plans while mandating standardized credit facility reporting to enhance financial transparency. Coming into force on 30 March 2012 under the Central Bank of Seychelles Act, 2004, these rules standardize credit risk assessment and data sharing across the national banking sector.
46 Supplement to Official Gazette [30th March 20121 CENTRAL BANK OF SEYCHELLES ACT, 2004 Central Bank of Seychelles (Credit Information System) Regulations, 2012 In exercise of the powers conferred by section 32A and section 50 of the Central Bank of Seychelles Act, 2004, the Central Bank hereby makes the following Regulations - Citation 1. These Regulations may be cited as the Central Bank of Seychelles (Credit Information System) Regulations, 2012 and shall come into force on 301h March, 201 2. Interpretation 2 In these Regulations - "applicant" means a person who has applied for credit facilities with a participating institution or who has made a request to the participating institution for his or her credit facility to be increased or whose credit facility falls due for renewal; "bank" means a bank licensed by the Central Bank under the Financial Institutions Act, 2004; "Business Continuity Plan" means a collection of documents containing procedures, resources and information that is developed, compiled and maintained in readiness for use in the event of an emergency or disaster; "business day" means a day on which the Central Bank is open for business; "Central Bank" means the Central Bank of Seychelles established under the Central Bank of Seychelles Act, 2004;