Central Bank of Seychelles

The Central Bank of Seychelles (French: Banque centrale des Seychelles, Seychellois Creole: Labank santral Sesel), is the central bank of Seychelles. It was officially established on 1 January 1983, with the dissolution of its precursor, the Seychelles Monetary Authority.

Location

The offices of the bank are housed in the Central Bank Building on Independence Avenue in Victoria, the capital city of Seychelles. The three-storey building is fully air-conditioned and has 3,500 square metres (38,000 sq ft) of office and storage space.

History

In 1974, the Currency Commission of the Seychelles was formed. In 1978, the Seychelles Monetary Authority was established, which in 1983 was transformed into the Central Bank of Seychelles (CBS). Up until 1982, the accounts of the Government of Seychelles were managed by Barclays Bank International. On 29 December 1982 that responsibility was transferred to CBS by passing the “Central Bank of Seychelles Act 1982”. An amended “Central Bank of Seychelles Act 2004” provided for the autonomy of the bank within the Seychellois government structure.

Governance

The affairs of the bank are supervised by an eight-person board of directors, chaired by the bank governor. As of April 2020, the following eight individuals comprised the board.

1. Caroline Abel: Governor and Chairperson
2. Christopher Edmond: First Deputy Governor
3. Jenifer Sullivan: Second Deputy Governor
4. Errol Dias: Director
5. Bertrand Rassool: Director
6. William Otiende Ogara: Director
7. Frank Ally: Attorney General, Director
8. Sherley Marie: Director.

Governors

The table below illustrates the names of the various Governors of the Central Bank of Seychelles, from its inception, on 1 January 1983.