CBS reinforces measures to maintain safe operation in view of rise in Covid-19 cases |05 January 2021

In light of the worsening of the Covid-19 situation with the increased number of cases locally, the Central Bank of Seychelles is reinforcing measures in place to be aligned to new guidance issued by the Ministry of Health to help prevent further transmission.

These measures are aimed at safeguarding the health and safety of the staff and general public, while minimising the impact of the situation on the delivery of the functions of the Central Bank of Seychelles (CBS).

As guided by the health authorities, CBS is limiting the number of staff working at the office by allowing them to work remotely, in line with the institution’s Work from Home Policy and Business Continuity Plan.

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 how CBS’ operational services will be offered to the general public as from Wednesday January 6, 2021, are outlined below.

Banking services

CBS’ operating hours between Monday to Friday will be from 8.30am. to 11.30am. Cash deposits and withdrawals by Government Ministries and Departments, cashing of government cheques by government agencies/individuals and cheque deposits will be accepted up to 11.30am during the working days.

Over-the-counter services requiring the handling of cash and cheques pertaining to the sale of all numismatic items, exchange of demonetised banknotes and exchange of coins with members of the public will be suspended until further notice.

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 transfers and instructions for the processing of same will only be accepted in electronic format – that is through email.

Administration of government securities

The process established for the issuance and management of government securities, particularly treasury bills, to ensure that government can continue to raise funds from the market to finance expenditure needs is maintained, whereby tender forms for treasury bills should be submitted electronically. The prescribed tender form is available on the CBS website and completed forms can be submitted via email to tbillsauction@cbs.sc before 8.30am on auction day.

Similar to the current practice, details of each treasury bills auction including the auction date, indicative issuance amount and issuance date will be posted on the CBS website and an announcement of the auction date will be made on television, three working days prior.

Successful bidders and applicants will continue to be informed through text messages, email or phone call. However, payment for successful bids will be accepted through bank transfer only.

Assistance to members of the public requiring guidance on the bidding process will be done remotely, that is by telephone on 4282000 and via email to fmd@cbs.sc.

Complaint 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 should contact the CBS number 4282000, and choose the appropriate line to be directed for necessary guidance or support. The public can also email info@cbs.sc for guidance, support or complaints, relating to both the operational aspects as well as relief measures.

Additional measures

Customers accessing the CBS building and banking hall are expected to continue to adhere to the health and safety measures in place. The temperature of all customers accessing the CBS building and banking hall will be checked upon entry and anyone with a temperature of 37.5 degrees Celsius or above, will not be permitted to enter. Customers will need to register their names and contact details in log books available at the reception and banking hall entrance.

They will also be required to wear a mask at all times and will be directed to use hand sanitiser before and after their visit.

CBS will also continue to put emphasis on the use of electronic means of communication for correspondences with its external stakeholders and in this light, is also encouraging its stakeholders and general public to use email for submission of all correspondences to CBS, which are normally delivered by post or submitted by hand-delivery. This can be done via enquiries@cbs.sc.

As the institution is critical to ensuring domestic price stability and financial system soundness, CBS is cognisant that the Covid-19 situation is one that is unprecedented and challenging. Hence, it 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.

Press release from CBS