The Central Bank of Seychelles has published a consultation paper setting out proposals for Regulatory Sandbox Regulations, aimed at enabling eligible innovators to test new financial products and services in a controlled, supervised environment. The proposed sandbox is intended to help the central bank engage with emerging innovation, particularly in digital payments and financial technology, and to assess whether existing regulatory frameworks adequately address new business models and associated risks. The proposals envisage defined eligibility and entry criteria, time-bound testing on a limited scale under Central Bank of Seychelles oversight, and proportionate regulatory flexibility during the testing phase where appropriate. The framework would also embed safeguards for financial stability, consumer protection, and compliance with Anti-Money Laundering and Countering the Financing of Terrorism requirements, alongside defined exit pathways including progression to licensing where applicable. Feedback is requested by March 12, 2026, with the consultation paper available on the Central Bank of Seychelles website.
Central Bank of Seychelles 2026-03-05
Central Bank of Seychelles launches consultation on proposed Regulatory Sandbox Regulations
The Central Bank of Seychelles has released a consultation paper on proposed Regulatory Sandbox Regulations for testing financial products in a controlled environment. The sandbox focuses on digital payments and fintech innovations, assessing regulatory frameworks for new business models and risks. It includes eligibility criteria, time-bound testing, and safeguards for financial stability, consumer protection, and compliance with Anti-Money Laundering and Countering the Financing of Terrorism requirements.