CENTRAL BANK OF SEYCHELLES & SEYCHELLES BANKERS ASSOCIATION
NOTICE TO THE GENERAL PUBLIC
The Central Bank of Seychelles (CBS) and the Seychelles Bankers Association (SBA) would
like to inform the general public that Seychelles will join the global financial community in
adopting a new international standard for exchanging electronic payment information between
financial institutions.
Starting November 22, 2025, the current SWIFT Message Type (MT) format will be replaced
by the ISO 20022 standard for all domestic and cross-border electronic payments and financial
transactions processed through the SWIFT network, including within the local banking
industry.
ISO 20022 enables the exchange of more structured and detailed data. Compliance with this
common standard will ensure more seamless connections between payment systems globally
and contribute to more efficient, secure and transparent financial transactions. For financial
institutions specifically, this change will improve automation, streamline payment processing,
enhance data accuracy and transparency as well as strengthen compliance and risk
management.
Locally, customers are not expected to experience any changes or disruptions to how they
conduct payment transactions, as the transition will primarily affect the backend processing of
financial and payment data by CBS and the commercial banks.
The CBS and commercial banks have been preparing for this transition to ensure seamless
implementation. The public is encouraged to contact their respective institutions for more
detailed information.
The adoption of ISO 20022 reflects the CBS and SBA’s commitment to the ongoing
modernisation of Seychelles’ financial system and alignment with global payment standards.