Siba revokes licenses of two corporate service providers |11 January 2013

The licenses of these two companies were initially suspended following their involvement in an Al Jazeera article and documentary entitled ‘People & power: How to rob Africa’ which was aired on November 8, 2012.

Siba said the suspension of the firms was done in view of the damage that matters of such nature may cause to the reputation of Seychelles and also pending further probe into the case.

According to Siba, the outcome of the enquiries is such that Siba has found it necessary, pursuant to provisions of the relevant laws, to revoke the licences of Premier Offshore Limited and Zen Offshore Services Limited.

“Siba hereby reiterates that it will not hesitate to recourse to appropriate enforcement actions to deal with any parties under its regulatory and supervisory purview that are in non-compliance with the relevant legislations,” says a communiqué from Siba.

“Siba is confident that the Seychelles has in place a robust legal, regulatory and supervisory framework which allows for the conduct of sound international financial services,” adds the communiqué.