The Central Bank of Seychelles (french: Banque centrale des Seychelles,

Seychellois Creole Seychellois Creole (), also known as kreol, is the French-based creole language spoken by the Seychelles Creole people of the Seychelles. It shares national language status with English and French (in contrast to Mauritian and Réunion Creole, ...

: ''Labank santral Sesel''), is the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...

Seychelles Seychelles (, ; ), officially the Republic of Seychelles (french: link=no, République des Seychelles; Creole: ''La Repiblik Sesel''), is an archipelagic state consisting of 115 islands in the Indian Ocean. Its capital and largest city, V ...

. 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 Victoria most commonly refers to: * Victoria (Australia), a state of the Commonwealth of Australia * Victoria, British Columbia, provincial capital of British Columbia, Canada * Victoria (mythology), Roman goddess of Victory * Victoria, Seychelle ...

, the capital city of Seychelles. The three-storey building is fully air-conditioned and has 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 A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...

, chaired by the bank governor. As of April 2020, the following eight individuals comprised the board. # Caroline Abel: Governor and

Chairperson The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

# Christopher Edmond: First Deputy Governor # Jenifer Sullivan: Second Deputy Governor # Errol Dias: Director # Bertrand Rassool: Director # William Otiende Ogara: Director # Frank Ally: Attorney General, Director # 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.

References

External links

Central Bank of SeychellesSWFI Profile
{{Seychelles topics Economy of Seychelles