Digital Transition : Seychelles Prepares for the End of Traditional checks

The modernization of the financial sector was at the heart of discussions during a historic economic forum chaired on June 24, 2025, by President Wavel Ramkalawan at State House.

This meeting brought together government officials and private sector representatives to establish a structured partnership aimed at strengthening the Seychelles economy and fostering sustainable growth. The President of the Seychelles Chamber of Commerce and Industry presented the progress made in anti-money laundering (AML) and know-your-customer (KYC) reforms. These measures are essential to ensure compliance with international standards while supporting the growth of local businesses.

Discussions also focused on the modernization of payment systems, with an emphasis on the transition to digital infrastructure and the phasing out of traditional checks to make transactions faster and more secure. Minister of Investment, Entrepreneurship, and Industry Devika Vidot outlined land use policies. CEO Jitesh Shah then presented the reclamation projects, highlighting the opportunities for industrial and commercial development through better land management.

The President expressed his vision for enhanced cooperation between the government and the private sector. The private sector emphasized the need to create an environment conducive to innovation and investment to ensure long-term economic prosperity.