Regulatory Alerts2020-07-07
Central Bank of Seychelles Directive on Sharing Information Regarding Gainful Occupation Permit Applications and Renewals
The Central Bank of Seychelles requires all commercial banks to report correspondence with the Ministry of Employment, Immigration and Civil Status regarding Gainful Occupation Permit applications and renewals for expatriate workers. This reporting obligation ensures the regulator monitors operational challenges and regulatory developments affecting financial institutions amid the ongoing Covid-19 pandemic. Banks must submit the requested information to the microprudential department via email at microprudential@cbs.sc for continued compliance and coordination.
CENTRAL BANK OF SEYCHELLES P. O. Box 701, Victoria, Seychelles Telephone: [+248] 428 20 00 Ref: FSD/GEN/1 Fax: [+248] 432 36 65 FSD/COVID19/2020 E-mail: enquiries@cbs.sc Date: July 03, 2020 To all Banks Sharing of Information in Respect of Gainful Occupation Permit (GOP) application for Expatriate Workers Reference is made to the above. In light of pronouncements made by the Ministry of Employment, Immigration and Civil Status in respect of GOP renewals and/or application for expatriate workers, the Central Bank of Seychelles (CBS) hereby requires all banks to share details to CBS of any correspondences with the aforementioned Ministry on the matter. This is such that CBS remains abreast of developments and any issues that financial institutions are faced with in light of the Covid19 pandemic. Information requested should be submitted to microprudential@cbs.sc CBS trusts in your co-operation for adherence to the above. Yours sincerely, C. Abel (Ms) Governor