Swift money transfers system working well |03 February 2012

The director for the Central Bank of Seychelles’ banking, currency and payment systems services Mike Tirant said this yesterday, adding the CBS dispatches the money within minutes of receiving it from the Ministry of Finance.

Journalists had on Wednesday talked of delays, during the signing of an agreement for a project to allow same-day clearance of cheques.

CBS governor Pierre Laporte signed for the project with chief executive Michael Wakileh of the company that is working on the project, which is variously known as Progressoft or ProgressSoft.

The ceremony was held at the Central Bank and was attended by the bank’s board members – who include attorney general Rony Govinden, and the heads or representatives of all commercial banks in the country.

Mr Tirant said the project will cost R7-8 million and not US $8 million as mentioned in our article by a regretted error yesterday.