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Financial Inclusion and Market Conduct Division

The primary role of the Financial Inclusion and Market Conduct Division (FIMCD) is to develop and implement strategies for enhancing financial inclusion, market conduct and consumer protection in Seychelles. This is part of the Central Bank’s objectives to maintain a sound financial system and to promote economic growth while maintaining financial stability. The division has the responsibility to instigate and administer relevant legislations, as well as devise and implement strategies for the modernization of financial services including the national payment system.

The division is divided into two sections with the following roles and functions:

a) Financial Inclusion

  • Coordinating the design and implementation of a Financial Inclusion Strategy, including:
  • Financial literacy/education strategy
  • Strategy for modernization of financial services including National Payment Systems Modernisation strategy
  • Promoting and supporting the advancement of the concept of Financial Inclusion
  • Implementing and coordination of awareness campaigns to support Financial Inclusion
  • Undertaking market surveys on financial inclusion to implement appropriate policies
  • Administering the Credit Information System
  • b) Market Conduct

  • Administering the Financial Consumer Protection Act and the regulations issued under this Act
  • Strategy for enhancing Competition in the Financial Sector
  • Implementation and coordination of awareness campaigns relating to Consumer Protection
  • Undertaking market conduct surveys and implement appropriate policies
  • Handling of complaints
  • Contribute towards analyzing proposed mergers and acquisitions in relation to supervised institutions
  • Seychelles National Payment System Vision and Strategy