This press release is from the Seychelles International Business Authority (SIBA) and follows from the press release from SIBA on November 13, 2012.
In its previous press release, the SIBA expressed its concern in relation to the involvement of two international corporate service providers (“service providers”) within the Al Jazeera article and documentary, entitled “People & power: How to rob Africa”, published and aired on November 8, 2012 in view of the damage that matters of such nature may cause to the reputation of the Seychelles.
Following the SIBA initiating relevant actions under the law in conjunction with other relevant authorities, it was deemed to be necessary that the licences of the two service providers involved be suspended pending further enquiries and examinations.
From these enquiries and examinations conducted, the conclusions were such that the SIBA deemed it necessary, pursuant to provisions of the relevant laws to revoke the licences of Premier Offshore Limited and Zen Offshore Services Limited
The SIBA hereby reiterates that it will not hesitate to recourse to appropriate enforcement actions to deal with any parties under its regulatory and supervisory purview that are in non-compliance with the relevant legislations.
The SIBA is confident that the Seychelles has in place a robust legal, regulatory and supervisory framework which allows for the conduct of sound international financial services.
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