We face the limitations and constraints typical of Small Island States that have few inhabitants and limited natural resources. We are a developing economy that is heavily dependent upon tourism and fisheries and the financial services sector is currently the third pillar of the economy.
With that said, I would like to proceed with providing a brief background on the initiatives undertaken by the authorities to develop the Seychelles’ financial sector. Seychelles has made significant progress since 2008 in actively reforming its financial sector.