President Assents to Anti-Money Laundering and Countering the Finance of Terrorism Legislation

05 March 2020 | Legal Affairs

President Danny Faure has today assented to two important laws that will align Seychelles with international norms in regards to combating money-laundering and the financing of terrorism, and in regards to transparency in beneficial ownership of companies, especially in the off-shore sector.

The President assented to the Anti-Money Laundering and Combating the Financial of Terrorism Act 2020, and to the Beneficial Ownership Act 2020.

The Bills were passed by the National Assembly of Seychelles, with the unanimous support of all Members at their sitting of 4th March 2020.

The President said that the passage of the two Bills by the National Assembly underlined Seychelles' determination to adhere to the principles of good governance, transparency and accountability in the domestic as well as off-shore financial sectors.  The introduction of these new laws should enhance Seychelles' reputation as a serious and reliable international financial service provider.

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