Seychelles is already embracing the potential of financial technologies, and we are delighted that Council of Ministers has accepted our nomination to host the ESAAMLG Workshop on Digital financial services, Bureau de Change and Money remittances, which will be held next year.
In the same quarter the ratio of gross non-performing loans to total loans stabilized at around 18 per cent. The coverage ratio for non-performing loans (provisions to total non-performing exposures), which has steadily improved in the last three years, now stands at 45.4 per cent, in line with the average for the main European banks.