CENTRAL BANK OF SEYCHELLES ACT, 2004

(Act 12 of 2004)

PART II – ESTABLISHMENT, AUTONOMY, OBJECTIVES AND FUNCTIONS OF THE BANK

3. (1) There is hereby established the Central Bank of Seychelles which shall be a body corporate with perpetual succession and a common seal.

(2) The Bank shall, in discharging its functions, act independently and no person shall seek improperly to influence the Board or any of the Bank’s officers or employees, in the discharge of his or her functions or interfere in the activities of the Bank.

4. The objectives of the Bank are –

(a) to regulate the issue, supply and availability of money and its international exchange;

(b) to promote price stability and the maintenance of both domestic and external value of the Seychelles currency;

(c) to advise the Government on banking, monetary and financial matters, and in particular on the monetary implications of proposed fiscal or credit policies or operations of the Government;

(d) to promote internal and external monetary stability;

(e) to promote a sound financial structure;

(f) to foster financial conditions conducive to the orderly and balanced economic development of Seychelles; and

(g) to perform such other functions as may be assigned to the Bank by any law.