Regulatory Alerts2021-09-21
Added · Updated
Central Bank of Seychelles Act, 2004 (as Amended)
The Central Bank of Seychelles, established by this legislation, operates as an independent regulatory body mandated to issue legal tender currency and maintain domestic price stability. The Act vests comprehensive policy authority in a President-appointed Board of Directors, which oversees statutory capital, foreign exchange operations, and regulatory oversight of commercial banks. Recent amendments clarify conflict-of-interest protocols, refine monetary reserve requirements, and establish transparent budgeting alongside tax exemptions to ensure autonomous financial governance.
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