07.17.13

Banks sign low-interest commercial loan agreement

Posted in Business and Economy, Seychelles banking at 4:21 am by Robert Klien

The heads of the commercial banking sector and the Minister for Finance, Trade and Investment have agreed upon a mechanism to make access to finance for entrepreneurs easier and more attractive.

On July 15, the bankers met with Minister Pierre Laporte and the principal secretary for Finance and Trade, Dr Steve Fanny at Liberty House in order to sign a memorandum of understanding on the provisions of loans to Small and Medium Enterprises (SMEs).

The signatories to the agreement with the ministry were Barclays Bank, the Bank of Baroda, Mauritius Commercial Bank (MCB), Habib Bank Limited (HBL), Nouvobanq, Seychelles Savings Bank and BMI Bank.

The initiative will be launched within the next week. By July 22 the above-mentioned banks will officially be open to queries from the public.