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.^[3]

Central Bank of Seychelles
Banque centrale des Seychelles
Labank santral Sesel

Headquarters	Victoria, Seychelles
Coordinates	04°37′24″S 55°27′14″E[1]
Established	1 January 1983; 42 years ago (1983-01-01)
Ownership	100% state ownership[2]
Governor	Caroline Abel
Central bank of	Seychelles
Currency	Seychellois rupee SCR (ISO 4217)
Reserves	530 million USD[2]
Website	www.cbs.sc

Location

The Central Bank of Seychelles building in Victoria

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.^[4]

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.^[5]

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.^[6]

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

Caroline Abel

The table below illustrates the names of the various Governors of the Central Bank of Seychelles, from its inception, on 1 January 1983.^[7]

Governors of the Central Bank of Seychelles Since Inception

Rank	Governor	From	Until	Notes
1	Guy Morel	January 1983	September 1991	[7]
2	Aboo Aumeeruddy	September 1991	April 1995	[7]
3	Norman Weber	May 1995	April 2001	[7]
4	Francis Chang-Leng	May 2001	October 2008	[7]
5	Pierre Frank Laporte	November 2008	March 2012	[7]
6	Caroline Abel	March 2012	present	[7]

See also

• Banks portal

• Economy of the Seychelles
• List of banks in Seychelles
• List of central banks of Africa
• List of central banks