The Seychelles Banking System is a system of Seychelles credit and financial institutions consisting of the Seychelles Central Bank , traditional commercial and offshore banks, as well as a currency exchange office and special financial institutions.
The first institution to carry out certain banking operations in the Seychelles was the local company Thermoldjiz. In the late 1950s, the first branch of the bank opened by the Brinana Barclays Bank opened in Seychelles.
As of 2012, the Seychelles banking system included:
- 6 ordinary commercial banks
- Barclays Bank (Seychelles) Ltd.
- Mauritius Commercial Bank (Seychelles) Ltd.
- Bank of Baroda
- Habib Bank Limited
- Seychelles International Mercantile Banking Corporation (SIMBC), operating under the brand " Nouvobanq "
- Seychelles Savings Bank (Seychelles Savings Bank) ;
- 1 offshore bank
- BMI Offshore Bank ;
- 3 special credit and financial institutions
- Seychelles Credit Union (Seychelles Credit Union)
- Development Bank of Seychelles
- Housing Finance Company (HFC) ;
- 25 currency exchange bureaus.
Banking legislation
The main act regulating banking in Seychelles is the Law on Financial Institutions No. 14, adopted on December 29, 2004.