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Seychelles Latest Weather Update - Teamwork kept local banks dry in tsunami (Independent Online)


 
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home > news Teamwork kept local banks dry in tsunami (Independent Online)

Teamwork kept local banks dry in tsunami (Independent Online)




Five years of "collaborative" effort between the central bank and the banking sector to redesign the regulatory framework had "bred a new culture in the system", Errol Kruger, the head of the Reserve Bank's banking supervision department, said yesterday.


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The Seychelles An island country in the western Indian Ocean north of Madagascar. Previously uninhabited, the islands were explored by Vasco da Gama in the early 1500s and colonized by the French in the mid-1700s. They were taken by the British in 1794, and Britain gained permanent control of them in 1814. The Seychelles were a crown colony from 1903 until 1975, when they became self-governing. Independence as a Commonwealth nation was achieved in 1976. Victoria, on Mahé Island, is the capital. Population: 80,800.
 
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