Discrepancies discovered at Nouvobanq |13 September 2011

A communiqué from the CBS said that the matter has been brought to the attention of the bank as well as other relevant authorities.

CBS has instructed Nouvobanq to implement several immediate remedial actions, so as to strengthen internal controls.

Moreover, CBS will continue to work with Nouvobanq to ensure that such is not repeated.
CBS, as the regulator of financial institutions in Seychelles, has the responsibility to ensure the safety and soundness of the financial system.  As part of its mandate, CBS examiners carry out examinations on all banks to assess among other things the internal controls in place and verification of records.