As part of the plan to reorganise BMIO, the Central Bank of Seychelles (CBS) hereby pronounces that it has appointed Mr Huns Biltoo, a Partner of KPMG Mauritius, as reorganising agent in line with Schedule 4 of the Financial Institutions Act 2004 (FIA). Consequently, the reorganising agent will as part of his objectives:
- assist with revaluating the bank’s compliance function such that it meets both local and international requirements.
- formulate a reorganisation plan which, if approved by all the relevant stakeholders under Schedule 4 of the FIA, will put the bank in a position to sustain a permanent correspondent banking relationship and fully restore normal operations.
- BMIO’s board of directors will also be issuing a press release to reassure clients of the work being done.
Throughout this process KPMG will be acting under the supervision of the CBS.
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