FSA and SIB promote Financial Services Sector in Asia |04 July 2019
The Seychelles delegation
The Financial Services Authority (FSA) in collaboration with the Seychelles Investment Board (SIB) organised the second Seychelles Financial Services Roadshow in Asia from June 18 – 24, 2019, under the theme ‘Seychelles, your Global Partner in the Digital Era of Financial Services’.
The Seychelles Financial Services sector is making headway in its development. In 2018, direct earnings generated by the Financial Services sector and contribution to the country’s foreign exchange inflows were estimated at US $564 million which corresponds to 4.1% of GDP.
Leading the Seychelles delegation were the chairman of Financial Services Authority, Suketu Patel; the chairman of the Seychelles Investment Board, Gilbert Lebon; chief executive of FSA, Dr Steve Fanny and chief executive of SIB, Cindy Vidot as well as their respective technical teams.
The delegation also included private sector professionals and a representative from Seychelles International Financial Services Association (SIFSA).
This year, the focus was on what makes Seychelles an attractive jurisdiction, specifically for the International Business Companies (IBC’s), the introduction of the Sandbox regulation for Fintech and how Seychelles is one of the most competitive financial services jurisdictions in the world.
The delegation participated in a conference which included face-to-face interactions with the Asian professionals and experts offering them value-added solutions and investment opportunities within the Seychelles Financial Services Sector. In total over 250 participants attended the Asia Roadshow.
“Seychelles is at present, one of the best jurisdictions compared to our main competitors and it is vital that we promote this to our potential investors. We believe it is important to host these annual conferences to disseminate the changes in our legal framework as well as to explain the innovative steps taken to improve our current products and the new additions in our portfolio. I must say, I am very happy with the level of interaction we had this year,” said Dr Fanny.