Regulatory Alerts2024-10-18
Central Bank of Seychelles Act, 2004 (as Amended)
The Central Bank of Seychelles Act, 2004 establishes the national monetary authority as an autonomous body corporate with a primary mandate to ensure domestic price stability and financial soundness. The Act requires the Board of Directors to formulate monetary policy, determine the foreign exchange regime, and exercise macro-prudential oversight while licensing and supervising financial institutions. Additionally, the legislation codifies executive qualifications, committee governance, administrative penalty enforcement, and the Bank’s fiscal agency functions to guarantee operational independence and regulatory compliance.
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