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.
The ECB looks forward to a swift conclusion of the trialogue with the final adoption of the Council Regulation. In the meantime, we have already started the necessary preparatory activities. The establishment of a single supervisory mechanism is part of a wider project aimed at completing the Economic and Monetary Union.