Central Bank of Seychelles publishes Board and Committee Charters setting out governance roles and decision processes

The Central Bank of Seychelles has published its Board and Committee Charters, setting out the roles, responsibilities and decision-making processes of the Board of Directors and its Committees to support governance, strategic direction and oversight in the discharge of the Bank’s mandates. Under the Central Bank of Seychelles Act, the Board oversees the functioning of the Bank and is responsible for its policy and affairs, with Board Committees providing focused oversight and specialised guidance in their respective areas. The Bank notes that these committees are composed of Non-Executive Directors and operate independently from day-to-day management; the Act provides for committees including the Audit and Risk Committee and the Human Resources Committee, while Non-Executive Directors also sit on the Enterprise Governance of Information Technology Committee and the Non-Executive Directors Committee. The Nomination and Remuneration Committee, although established by the Board, is composed entirely of members independent of the Bank and proposes candidates and remuneration for Non-Executive Director appointments for the Governor to submit to the President for determination.