DEMONETISATION OF HIGHER VALUE NOTES
Bank of Seychelles has announced the demonetization of the
previous series of Rs.100 and Rs. 500 notes.
Transactions using the 1998 to 2005 series of the two higher
value denominations of Rupees banknotes will only be possible
until June 29th 2017. After which, members of the
public will have to exchange their banknotes at the Central Bank
The Head of
the Banking Services Division at the Central Bank of Seychelles,
Mike Tirant gave details about the process which he said will be
carried out in phases. ““We are going to do it only with the
higher value denominations which we feel will add value to the
public at large because now they can benefit more from the
improved security features that have been put on the new family
of bank notes.”
issues may be encountered during the exchange, the Central Bank
is working alongside commercial banks and the Credit Union to
allow members of the public to exchange the older notes for the
new ones. For individuals who do not have a bank account, they
may be able to exchange their notes at the Central Bank of
Seychelles provided they present adequate identification.
accepted forms of identification include national identity card,
driving license or passport for Seychellois nationals and
passport for non-Seychellois. There will also be a form to be
completed with details about the source of the money.
added that Central Bank has to screen all transactions. “The
central bank on its part because it has to abide by these
regulations we have to screen all these transactions that have
come in. If he suspects there has been any wrong doing then they
may report them to the relevant authorities that deal with money
laundering and counter terrorism financing.”
launch of the 2016 series of Seychelles banknotes, in December
2016, 72 % of the previous 100 rupees series and 79 % of old 500
rupees have been removed from circulation.
MET WITH SENIOR OFFICIALS FROM UNESCO
Danny Faure met with 2 senior officials from the International
Bureau of Education of UNESCO in Seychelles to attend the
Biennale conference on early childhood education.
Mmansetsa Marope was the first to meet with the Head of State.
She congratulated President Faure on the fact that Seychelles
has been chosen as an example of early childhood for other
that since 2010, Mr. Faure has been pivotal on transforming
early childhood development not only in Seychelles but worldwide
that the representatives of 18 countries who are here to attend
the conference are to learn from Seychelles.
enormity of the Seychelles is in this political leadership; its
technical leadership. The world is here today precisely to look
at the enablers that underpin the success of Seychelles, these
are relevant to any country of any size and there are equally
smaller countries than Seychelles that have not made the same
progress as you. There are bigger countries that have not made
the same progress as you,” said Dr. Marope.
Chairman of the International Bureau of Education, Dr. Hamoud Al
Hati later met with President Danny Faure.
SEYCHELLOIS ON MISSIONARY WORK MEET WITH PRESIDENT FAURE
Faure met with 2 young people doing missionary work in South
Achille Confiance are waiting for the chance to one day form
part of the Logos hope crew.
The 2 young
people are who are members of the Pentecostal Assembly of
Seychelles will be conducting a 2-year training course in South
Africa for people who are to go on missionary work or on the
Logos Hope itself.
Seychellois actually applied for placement on for the placement
on Logos Hope but so far only 3 have managed to get a place on