(Act 12 of 2004)


32. (1) The Bank shall monitor the developments in the foreign exchange and credit markets and keep such statistics relating to the balance of payments and other matters as it needs to discharge its functions.

(2) In carrying out its monetary policy and supervisory functions and for the purposes of subsection (1), the Bank may require any bank, other financial institution or other entity in Seychelles under the Bank's supervision and any of its directors, officers or employees to furnish, at such time and in such manner as the Bank may specify, such information and statistical data as the Bank considers necessary for the discharge of its functions.

(3) Subject to subsection (4), the Bank may publish, at such times as it thinks fit, the information and data furnished to it under subsection (2) in whole or in part.

(4) Notwithstanding subsection (3), no information disclosing the affairs of a provider of statistical data or a customer of the bank or other financial institution or other entity under the Bank’s supervision or, indirectly, those of another person, shall be published or otherwise disclosed by the Bank unless it is required to do so by law or an order of court or the person concerned has previously consented in writing to the publication or disclosure.

(5) Any person, while performing functions for a bank, other financial institution or other entity under the Bank’s supervision required to provide information or statistical data according to subsection (2) who –

(a) fails, refuses, neglects or unreasonably delays to supply information or statistical data as required by the Bank; or

(b) in complying with such requirement, furnishes any information or statistical data which he or she knows to be false in any material particular,

shall be guilty of an offence and liable on conviction to a fine of R 20,000 and to imprisonment for six months.