CBS reviews operational measures in light of recent Covid-19 developments |12 May 2021
The Central Bank of Seychelles (CBS) is reinforcing measures to prevent the transmission of Covid-19 and ensure continuity of its operations, amid rising numbers of positive Covid-19 cases locally.
In line with the institution’s ‘Work from Home Policy’ and ‘Business Continuity Plan’, and as per guidance of the health authorities, CBS is limiting the number of staff on its premises, while taking the necessary steps to keep disruptions at a minimum.
While CBS remains cognisant that the essential services and support provided to its stakeholders and the general public, although reduced, should not be completely disrupted, the Bank is placing emphasis on minimising physical interactions.
Details of CBS’ operational services to be offered to the general public as from today, Wednesday May 12, 2021, are as follows:
Banking services
CBS’ operating hours between Monday to Friday, will be from 8.30am to 11.30am.
Over-the-counter services: Cash deposits and withdrawals by government ministries and departments, cashing of government cheques by government agencies and individuals, and cheque deposits will be accepted up to 11.30am during working days. Cheques instructions received after 11.30am will be processed the following working day.
Other over-the-counter services including the sale of all numismatic items, exchange of demonetised banknotes and exchange of coins with members of the public will also be available during CBS operating hours.
Electronic transfers: The cut-off time for transactions made through the Seychelles Electronic Funds Transfer (SEFT) system and the CBS Immediate Transfer Service (CBSITS) SWIFT will be no later than 11.30am. Transactions processed on these platforms after the cut-off time will be sent for clearing and/or settled on the following working day.
The CBS is working in close collaboration with its stakeholders – namely commercial banks, the Seychelles Credit Union, government ministries and departments, as well as parastatals – that will require services for receipts and payments, both in rupees and foreign exchange. These transactions will be done via electronic transfer and instructions for the processing of same will
only be accepted through email. Instructions for urgent processing of foreign exchange payment should reach CBS no later than one working day before the processing due date.
Administration of government securities
The process established for the issuance and management of government securities remains unchanged, whereby submission of bid forms for Treasury Bills and application forms for bonds can be done by email. Details of the process can be found on the government securities page on the CBS website (https://www.cbs.sc/GovernmentDebt/FAQGovSec.html).
Alternatively, members of the public requiring guidance or further information can contact CBS on 4282000 choosing line 2, or by email to fmd@cbs.sc.
Complaints handling
Complaints received from the public against institutions falling under its regulatory purview, if these have not been resolved after first being referred to the concerned institutions, will also be handled remotely, by telephone and email.
For enquiries about services offered by CBS and complaints against institutions under its regulatory purview, the public may contact the CBS number 4282000, and choose the appropriate line to be directed for necessary guidance or support. Queries and complaints relating to operational aspects may be emailed to complaints.mcs@cbs.sc. Queries and complaints pertaining to the CBS relief measures can be emailed to info@cbs.sc.
Additional measures
When accessing the CBS building and banking hall, customers are expected to continue to adhere to the health and safety measures in place. These include temperature check upon entry (anyone with a temperature of 37.5 degrees Celsius or above will not be permitted to enter); registration of name and contact details in log books available at the reception and banking hall entrance; wearing of mask at all times; and use of hand sanitiser upon entry and exit.
CBS also continues to put emphasis on the use of electronic means of communication for correspondences with its external stakeholders and encourages its stakeholders and the general public to use email for submission of all correspondences to CBS, instead of postal or hand delivery. This can be done via enquiries@cbs.sc.
CBS will continue to monitor the developments surrounding this situation and will revise and communicate any changes to its operations as and when the need arises, while ensuring the promotion of domestic price stability and the soundness of the financial system.
Press release from CBS