Audrey Pothin – Seychelles Bankers Association

Public Notice – Transition to ISO 20022

Audrey Pothin — Mon, 14 Apr 2025 11:28:59 +0000

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.

Public Notice – SCAM

Audrey Pothin — Wed, 12 Mar 2025 06:15:09 +0000

Following the rise in fraud cases recorded last year, the Seychelles Bankers Association is seeing an increase in reported cases currently in the market related to social media adverts or calls being made via Whatsapp.

The public is being advised that NO bank makes offers for loans through social media and they follow risk-based practices for granting of loans. Additionally, your bank will never request for your banking details over the phone. Members of the public are informed NOT to reveal their personal banking information including debit/credit (ATM) card details, CVV, PIN, OTP received, etc… to unknown persons requesting for such, especially if they are being contacted on behalf of a bank. If in doubt, please contact your bank to clarify.

The Seychelles Bankers Association once more reminds all bank clients to continue to exercise caution when making use of social media platforms and receiving calls claiming to be on behalf of banks. Do not fall victim to scams.

SEYCHELLES BANKERS CELEBRATES MEMORABLE INTERBANK SPORTS DAY 2024

Audrey Pothin — Fri, 24 Jan 2025 06:49:06 +0000

On Saturday 10^th August, the annual Interbank Sports Day took place, uniting different financial institutions in a spirited day of competition, camaraderie and celebration. This year’s event was organised by Nouvobanq, which brought together 11 institutions; Absa Bank, Al Salaam Bank, Bank of Baroda, Bank of Ceylon, Central Bank of Seychelles, Development Bank of Seychelles, Mauritius Commercial Bank, Nouvobanq, Seychelles Commercial Bank, and Seychelles Credit Union.

The day featured an array of sporting events, including football, volleyball, basketball, athletics, domino, tug-of-war, obstacle race and the highly anticipated CEO’s challenge. Each sport saw fierce competition, with participants giving their all to bring glory to their respective institutions.

The event came to an end with a short award ceremony. The majority of wins went to Mauritius Commercial Bank, who not only won the first prize but also took home the ‘Best Spectator’ award. The second prize was shared by two equally impressive teams – Central Bank of Seychelles and Development Bank of Seychelles. Absa secured the third prize.

Reflecting on the success of the event, this year’s event coordinator – Mrs Octavie Berlouis remarked, “The Interbank Sports Day is more than just a competition; it’s about building relationships, fostering teamwork and promoting a healthy work-life balance.”

The winning team from Mauritius Commercial Bank was equally enthusiastic about their victory. In a statement, their Marketing and Communications Manager – Ms Elain Derjacques said “With much determination, Mauritius Commercial Bank vowed to bring the cups back home and that is just what we did as one team. We all came together for a day of fun and leaving very satisfied. We thank Nouvobanq for ensuring most of the activities went smoothly and all other competitive institutions for their good spirit and camaraderie”.

With the success of this year’s event, the stage is set for another Interbank Sports Day next year, which will be organised by Absa Bank.

SBA Fraud Documentary

Audrey Pothin — Mon, 02 Dec 2024 10:16:33 +0000