Steffi Larue and Mike Morel clinch first FSA Scholarship Award |10 June 2022

(L to r) Mouhammad Saley, Mike Morel, Zenab Damou, Damien Thésée, Steffi Larue and Philip Moustache (Photo: Joena Meme)

Steffi Larue and Mike Morel, two young Seychellois with great interest in pursuing a career in the non-bank financial services sector, have been awarded the Financial Services Authority’s (FSA) first ‘scholarship award’.

This was during a short ceremony earlier this week at the FSA’s office at Bois de Rose.

Present to witness the moment was the chief executive of the FSA, Damien Thésée; deputy chief executive Zenab Damou; board members and families of the awardees.

Mr Thésée stated while addressing everyone present that this marks the first award of the FSA industry’s scholarship which forms part of its strategic plan 2021-2025. The aim of the plan is to build capacity in the non-bank financial services sector. The initiative was launched last year and an internal committee within the organisation was set up to select the prospective candidates.

Through the FSA’s rigorous application and selection process Mr Thésée noted that they were able to select candidates who had particular interest in the non-bank financial services industry. The two successful candidates, Steffi Larue and Mike Morel, will be pursuing a Bachelor of Business in financial risk management in Malaysia and a Masters in Science Regulations and Compliance in England respectively.

Larue was presented with her scholarship award by board member Philip Moustache and Morel was awarded by board member Mouhammad Saley.

“For quite a while we have seen that the industry needed some more support and through our various consultations and discussions we’ve had within the industry, capacity building has been at the forefront of the agenda and plight of the industry,” said Mr Thésée.

He further added that they also discussed how they could assist and took the initiative with the support of the board of directors.

The two awardees got a fully funded scholarship and the CEO noted that the FSA scholarship award will be done annually.

Morel, who will be travelling to the UK for his studies at Queen’s Mary University for one year, said he learned of the scholarship through his sister and he immediately sought for more information on the procedure to apply.

Morel noted that where he was working in the private sector he gained the opportunity to learn about compliance and he went to a few workshops which then developed his interest.

He added that he completed his degree in business administration which is quite broad therefore he wanted something more specific for his masters.

The other successful candidate, Larue, who will be travelling to Malaysia for three years to attend Sunway University, said she learned of the scholarship opportunity through her father and she hopes that when she returns she can share the knowledge she will gain from her studies.

CEO Thésée said they launched the scholarship applications late last year and the deadline was towards the end of January this year. In total the FSA received about 10 applications and made the selections based on certain criteria that met their priorities in the financial domain.

The CEO stated that the FSA has a significant role to play in the diversification of the economy and that certain skills are needed in areas that are not necessarily prominent.

He added that it is necessary for the authority to invest in human resource development.

Marla Simeon