The Central Bank of Seychelles has announced a revised timeline for phasing out the issuance and acceptance of local currency cheques for non-individuals (businesses) by all banks and the Seychelles Credit Union. The revised deadlines, approved by the Cabinet of Ministers on 16 July 2025, extend phase two of the cheque sunsetting programme for businesses. Under the revised plan, banks and the Seychelles Credit Union will stop issuing cheque books for businesses from 1 September 2026, the Government of Seychelles will stop accepting business cheques from 1 December 2026, and banks and the Seychelles Credit Union will stop accepting business cheques from 1 January 2027. The change follows engagement between the private sector led by the Seychelles Chamber of Commerce and Industry, the Central Bank of Seychelles, the Seychelles Bankers Association, and the Ministry of Finance, National Planning and Trade, reflecting concerns from businesses, particularly retailers and wholesalers, about implementation challenges. To support the transition, a dedicated team comprising representatives from the Central Bank of Seychelles, the Seychelles Bankers Association, the Seychelles Chamber of Commerce and Industry, and the Government has been established to drive implementation, address sector-specific issues, and engage directly with entities that rely heavily on cheques. During the extended period, businesses may discontinue cheque use at their own pace but no later than the revised deadlines, while the Central Bank of Seychelles and the Seychelles Bankers Association continue awareness efforts promoting digital alternatives including internet banking, mobile apps, e-money services, QR code payments, and online payment portals.

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