08.18.06

Financial system and banking in Seychelles

Posted in Seychelles banking, Seychelles offshore jurisdiction at 9:43 pm by Robert Klien

The Ministry of Finance is the institution responsible for economic decisions and budgetary policy in the Seychelles. The banking system is supervised by a separate Monetary Authority that also manages money supply.

The following banks represent the Seychelles banking system:

Besides banks, there are two regulated non bank financial institutions that make a part of Seychelles financial system as well:

  • Seychelles Credit Union,
  • Seymore Bureau de Change.

The Development Bank of Seychelles is the bank that belongs to the government. The rest are commercial banks offering the full range of services.

By the way, Barclays Bank was the first bank in the country to officially launch offshore banking facilities to capitalize on the growing offshore company registration services and the developing network of Double Taxation Treaties which provide international businesspersons with increased tax structuring and planning opportunities. Its Offshore Banking Unit works to provide a personalized service to meet the needs of international clients.

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