IMF in Seychelles to assist in the review of the Seychelles legal framework on Anti-Money Laundering and Combating the Finance of Terrorism
April 11, 2018
Wednesday 11th April 2018; The IMF delegation is in Seychelles on the invitation of the Central Bank of Seychelles, for their technical assistance in order to review the Seychelles legal framework on Anti-Money Laundering and Combating the Finance of Terrorism, AML/CFT as well as make recommendations.
They met with the Minister for Finance, Trade and Economic Planning, MFTEP, as well as senior staff recently at Liberty House.
During their mission here, the team will look at three main elements;
a) Supervision of the Financial Institutions
b) Operation of the Financial Intelligence Unit
c) Offshore sectors and how to strengthen the offshore sector in line with the international standards.
Among issues discussed were the issue of correspondent banks, good governance and transparency, fight against terrorism and human resources in the Seychelles.
Minister Larose, called on IMF to assist in building up local capacity. He added that there was a need to boost the FSA capacities and systems and that modernization was critical, especially in laws, training of staff, and mutual exchange of information with other jurisdictions.
The IMF delegation is also expected to meet with stakeholders, including banks.
The mission is expected to last for a week, until Friday 13th April 2018.