BMI appoints Managing Director for Seychelles operations

Posted in Financial Services, Offshore Services, Seychelles banking, Seychelles offshore jurisdiction at 2:09 pm by Robert Klien

According to the press release published on May 20, 2008, Bahrain-based BMI Bank appointed Frank Hoareau as the Managing Director of BMI Offshore Bank Limited, its new Offshore banking business in Seychelles.

Andrew Bainbridge, Chief Executive Officer of BMI, welcomed Frank Hoareau and noted that he brings extensive experience and knowledge of the offshore industry and banking. Bainbridge also said that the Bank is confident it will build a thriving business and capitalize on the many exciting opportunities in the Seychelles market as Seychelles is an attractive location for this venture that is supported by legal and regulatory framework and continuing economic progress.

It should be noted that Frank Hoareau is well-known in Seychelles financial circles and he is familiar with the Ministry of Finance and the Central Bank, where he held a senior position before joining Barclays offshore.

In March 2008, BMI received its offshore banking license and is planning to open for business in the 3rd quarter of 2008.


Seychelles President receives credentials from Chinese Ambassador

Posted in Diplomatic missions, International relations at 7:35 pm by Robert Klien

New Ambassador of China to Seychelles Wang Weiguo arrived in Seychelles on May 16, 2008.

On May 20, New Ambassador to Seychelles Wang Weiguo presented his credentials to Seychelles President James Alex Michel in Victoria.

Michel welcomed Wang as new ambassador to Seychelles and expressed his satisfaction with the recent development of relations between Seychelles and China that are based on mutual trust and equality. The President thanked China for the assistance and the efforts made by its leaders to promote economic cooperation between Seychelles and China. He also said he awaits that the mutually beneficial cooperation will be developed in the future.

The New Ambassador recalled the development of bilateral relationship in the past years since diplomatic relations between the two countries were established in June 1976. He also said he would do his best to push the relationship between Seychelles and China towards win-win partnership.


Seychelles’ Parliamentary Delegation to visit China

Posted in International relations, Seychelles government at 5:20 pm by Robert Klien

On May 12, 2008, it was announced that a delegation of the National Assembly of the Republic of Seychelles is going to pay a visit to China. It was also announced that the Seychellois delegation was to be led by deputy speaker Wilby Lucas.

The delegation is paying an official good-will visit to China from May 14 to May 21. The visit was ogranised at the invitation of the Standing Committee of the National People’s Congress of China.


IDS enters Seychelles

Posted in Business and Economy, Foreign investments, Tourism industry at 9:36 pm by Robert Klien

A global leader in providing IT solutions for the hospitality industry, IDS SOFTWARES Pvt Ltd, has announced that it is entering Seychelles. The company has partnered Paradise Computer Services (PCS), one of the largest IT companies in Seychelles, in the venture that is expected to be successful.

As tourism is the mainstay of Seychelles contributing more than 21% of the GDP and accounting for more than 60% of the forex earnings, IDS products in Seychelles have a high potential. Entering Seychelles strengthens the presence of IDS in the African continent.

It should be noted that the above announcement closes in on company’s target of expanding into 40 countries by the end of the financial year 2008-2009.

Rajesh P Yadav, general manager of IDS, commented on the entry into Seychelles, noting that the company is happy to tie up with Paradise Computer Services for sales and support in the Seychelles market as far as Africa offers great opportunities for its products.

PCS is a leader in IT integration in Seychelles. Based in Victoria and Mahe, the company was established in 1995 with a view to provide an unparalleled level of service to the IT sector.


Seychelles starts training to inform public on rights

Posted in Business and Economy, International Organisations, Seychelles government at 8:54 am by Robert Klien

Seychelles has launches a programme that is aimed at training people as regards their human rights and civil liberties.

On April 28, 2008, a 2-week workshop opened at the Police Academy. It is the 1st activities in a series under the human rights project launched to improve the skills of both governmental and non-governmental staff in this area.

The project was launched by Patrick Pillay, Minister for Foreign Affairs. Mr Pillay noted the launch of the project comes in a year when the world is celebrating the 60th anniversary of the United Nations’ Universal Declaration of Human Rights, the theme of which is Dignity and justice for all.

The whole project will last for 2 years. It is co-funded by the European Union and the United Nations Development Programme and based on an agreement signed that was signed by Seychelles in July 2006.

The project is expected to increase awareness of the great importance of human rights issues among the public.  It is also hoped to strengthen respecting and adopting human rights practices by police and prison officers, while informing the judiciary, media and civil public on these issues.