Since its creation in 1978, the Seychelles Monetary Authority, and as of 1983 its successor the Central Bank of Seychelles (CBS), have undergone various stages of adaptation with the aim of turning it into a modern and efficient institution, equipped to discharge its responsibilities with professionalism and efficiency. The CBS Act, 2004 as amended provides for the Bank to operate as an autonomous institution, reinforcing its status as the authority responsible for all monetary issues in the country and caters for the further development of the financial sector within the current economic environment.
The primary objective of the Bank is to promote domestic price stability and other objectives of the Bank are as follows;
- to advise the Government on banking, monetary and financial matters, including the monetary implications of proposed fiscal, credit policies or operations of the Government; and
- to promote a sound financial system.
The mission of the Bank corresponds to its core mandate, which is to contribute towards the sustainable economic growth and development of Seychelles through monetary policy and maintenance of a sound financial system.
The vision of the Bank represents what it wants to become as an institution over time, that is, to be a model central bank in the region, delivering price stability and financial system soundness through professionals who are competent, committed and uphold high ethical standards, so as to support economic growth and development.