CBS launches third Guy Morel Achievement Scholarship Programme |24 September 2021
Governor Abel launching the third Guy Morel High Achievement Scholarship programme for the year 2022 (Photo: Louis Toussaint)
The Central Bank of Seychelles (CBS) yesterday launched the third Guy Morel High Achievement Scholarship programme for the year 2022, during a brief virtual ceremony.
Governor Caroline Abel officially launched the scholarship, noting that the 100 percent Seychellois staff rate of the CBS is the seed sown by the founding father of the CBS as it stands today, Guy Morel.
“When we first introduced our scholarship programme in 2018, it was done in the spirit of building local expertise in the financial sector. This remains the key objective for the 2022 edition of this scholarship. In the wake of the pandemic where the importation of foreign expertise in most sectors has been challenging, we have been further reminded of the importance of building our own capacity, if we are to successfully weather the storms, that will surely continue to test our resilience,” Governor Abel said.
“One of the wisdoms from Mr Guy Morel that we at the CBS still uphold today, is that we believe in training people, arming them with skills to make them professionals, good citizens, and complete persons,” Governor Abel stated.
Second Deputy Governor of CBS, Jennifer Sullivan, explained that the Scholarship Committee annually reviews the scholarship policy, to ensure it remains relevant to the needs of the financial sector. Last year, due to the implications of the Covid-19 pandemic, the committee considered feedback received and adjusted to overcome the challenges.
The deadline for applications has been revised to January 31, instead of end of February as was the case for previous application periods. The revised timeframe will allow successful candidates more options when making their choices, and ample time to complete the formalities to be admitted at an institution.
In an attempt to be more inclusive, and recognising that the Cambridge Advanced Level Studies certificates are not the only qualifications being pursued locally, students who have sat exams which are equivalent are now also eligible to apply for the scholarship.
As explained by Ms Sullivan, the mode of study has also been widened to allow distance learning on a full-time basis, to allow applicants more choice and flexibility, especially for mature students who may have commitments. Scholars who choose this path will also receive a stipend and text book and internet allowances. However, for those wishing to travel abroad, the scholarship caters for costs associated with the university programme, living expenses and travel.
The CBS has also taken into consideration the significant changes in travel requirements, other travel-related costs such as PCR tests and quarantine are now also inclusive.
She went on to note that in cases whereby the recipient chooses to follow an internship with the CBS prior to undertaking their studies, they will receive an allowance similar as to that which is paid at the national level, as an opportunity to familiarise themselves with the financial services sector.
Interested applicants are encouraged to put together a compelling application, with strong references and powerful personal statement. Similar to 2019, the application process is electronic through a designated online scholarship portal, on CBS’ website.
The first pair of scholarships were offered in 2019, and since then, the first recipient of the Postgraduate degree, Hilary Baron, has graduated with a Master of Science in Forensic Accounting, with Distinction. She was also awarded the Association of Qualified Examiners Prize for attaining the highest overall mark for the course. This achievement showcases the commitment of our scholars, to the opportunity that they have been granted, to making themselves and our country proud.
Meanwhile, the recipient of the undergraduate degree Clara Radegonde will complete a Bachelor of Science in Business Management next year, specialising in Financial Management.
Earlier this year, two new scholars were chosen – Priya Chavda, who is undertaking an undergraduate degree in Banking and Finance, and Ryan Bradburn who has embarked on a law programme, specialising in good governance and compliance.
Minister for Finance, Economic Planning, and Trade Naadir Hassan, Minister for Education Justin Valentin, principal secretary for Education Services Odile de Comarmond and members of the Anti-Money Laundering and Counter Financing of Terrorism committee attended the ceremony virtually.
Laura Pillay