Barclays Bank offers new banking services to its clients

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Barclays Bank offers new banking services to its clients

Post  Sirop14 on Mon Jul 30, 2012 12:15 pm



Barclays Bank Seychelles (Limited) has launched two new electronic channels aimed at making banking easier for its clients.

These are the fully fledged internet banking services for individual customers and ATM bill Mr Jha addressing guests at the launch of the new servicespayment available to all debit card holders.

Barclays becomes the first local bank to offer a full functionality, on-line banking service to this segment of clients.

Through the ATM bill payment, clients will be able to pay their bills from Intelvision, Airtel and Public Utilities Corporation (PUC) at anytime at the 14 Barclays ATMs on Mahe, Praslin and La Digue.

The launch took place last week at its Independence branch banking hall in the presence of Central Bank of Seychelles governor Caroline Abel, the second deputy governor Jenifer Sullivan, Barclays managing director Rakesh Jha, representatives of the three companies and staff of Barclays.

Through both channels, clients can experience convenience banking at its best.
With the newly launched internet banking service, clients will have the ability to conveniently and safely manage their finances from their homes or offices.

The internet banking service will allow its subscribers to view transactions on their current, savings, fixed deposit and loan accounts at their convenience.

Guests at the launch of the new services

They will also be able to transfer funds between their current and savings accounts as well transferring funds to any other third party account whether held with Barclays, any local or international banks.

Apart from paying their utility bills, clients will also be able to set up standing orders and order bank drafts.

They can also send secure messages to Barclays such as enquire about any particular transactions on their account or to send a compliment or even to make a complaint.
Customers can register for internet banking and use both services for free.

Internet banking for individual customers and ATM bill payment join the suite of new and improved electronic banking options that Barclays offers its clients.

These include e-statements, a service that delivers customer statements in their mailbox and SMS alerts, another service that sends clients SMS messages when a particular transaction takes place on their accounts.

A Barclays employee briefs CBS Governor Caroline Abel on the new services

To use these services, customers have to fill in an application form at the bank.
In a press release, Mr Jha said Barclays continues to expand its range of products, services and channels.

Addressing guests at the launch, he said this represents a very important beginning for the bank and the two new services allow banking to be more convenient for the clients.

Those present had the chance to learn more on the services through a presentation given by retail director Mandeep Chaudhary.

Representatives from Airtel, PUC and Intelvision had words of thanks for Barclays for such an initiative.

Source Seychelles Nationhttp://www.nation.sc/index.php?art=28295

Sirop14

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Registration of new businesses

Post  Sirop14 on Mon Jul 30, 2012 12:17 pm



It is a requirement for businesses -- sole traders, partnership, company or trust -- to register with the Seychelles Revenue Commission (SRC) upon commencing trade.

All businesses should collect a registration form from the Advisory Centre, Room 2 at Ocean Gate House. Upon completion of the form, it should be returned to the Advisory Centre to be processed so that you can become a registered taxpayer. SRC provides a reasonable time frame of 14 days, as stipulated in the Revenue Administration Act 2010 section 4, for you to register.

A person who becomes an employer after the commencement of the Income and Non-Monetary Benefit Tax Act 2010, shall, within 7 days of him becoming an employer, apply to the Revenue Commissioner, Seychelles Revenue Commission, using the approved form, to be registered as an employer. Further to that, the employer also needs to register their employees within 7 days of commencing work.

Note: If an application is not made within 7 days of your becoming an employer, or the application contains any information that is false, in any particular way, then you are guilty of an offence and could be liable to a fine by the Court of R10,000 and imprisonment for 6 months.

Why do you need to register your business?
It is mandatory for all businesses to register with the Seychelles Revenue Commission. Therefore, it is an offence under the law if you do not register your business. Businesses need to register in order for them to lodge their tax return and pay their tax liability or get a refund depending on their business’ performance. In addition, they need to pay a monthly contribution for their employees as income tax, so that their workers can be remunerated when they retire or in cases of illness. Businesses should pay taxes to contribute for the improvement of the economy as they benefit while trading in this country.

What information is required for registration?
To register your business, you will need to submit the following information:
a. Name of the business
b. The date the business commenced
c. The name and address of the owner of the business and where the owner is a partnership, the name and address of each partner in the partnership
d. The nature of the activities of the business
e. An estimate of the net income the business is expected to derive in the first tax year of its operation

Businesses should provide the following documents if they are registering as a:
• Company – a copy of memorandum and Articles of the association, the company registration, a list of all directors and shareholders and business licence.
• Trust -- a copy of the trust deed, a list of all trustees.
• Partnership – a copy of the partnership registration, a list of all partners and business license.
• Individual -- a copy of the business license (if applicable).
• All employers -- A list of all your employees.

Upon completing the form and returning it to the Advisory Centre, the Revenue Commission will register your business, once SRC is satisfied that all relevant information has been provided. You will then be issued a Tax Identification Number (TIN) which must be used as a reference on all correspondences with the Seychelles Revenue Commission.

For more information
You can contact the Seychelles Revenue Commission, Advisory Centre, Room 2, First Floor, Ocean Gate House or phone 4293737 should you require any assistance in completing this application form. For employers living on Praslin, information can be obtained from the Social Security Fund office, Baie Ste Anne or phone 4232041.

Submitted by the Seychelles Revenue Commission

Source Seychelles Nation

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Seychelles’ first financial exchange gets licence

Post  Sirop14 on Mon Jul 30, 2012 12:20 pm



A licence has been granted to Trop-X (Seychelles) Limited to be the first financial/securities exchange in Seychelles.

This comes after the call for proposals by the Seychelles International Business Authority (Siba) for the establishment and operation of a new securities exchange in Seychelles during April 2011.

Trop-X director, Bobby Brantley, says: “We are excited to have the opportunity to be involved in what will be such an important project for the advancement of the Seychelles financial services sector. The tender process and resulting pre-licensing requirements were understandably robust but we feel the process resulted in the best solution for Seychelles. We would like to thank the staff of Siba especially, but also Central Bank, Ministry of Finance and the government of Seychelles in general for their support of this initiative to date. Trop-X aims to help facilitate the development of Seychelles into the premier financial services hub of the Indian Ocean and Africa and we will need to work with all stakeholders public and private to achieve this.”

The Seychelles government is fully behind the project. Finance, Trade, and Investment Minister, Pierre Laporte, commented that “the launch of the Stock Exchange in Seychelles is much awaited.

It will be an important milestone toward the modernisation of our financial system and our economy as a whole. I have no doubt that this initiative will bring substantial benefits to Seychelles and an initiative that will make all Seychellois proud”.

Trop-X’s proposed multi-asset, multi-currency international exchange will commence with the launch of the equities boards in the fourth quarter of 2012. Three equities boards will be launched which are the Venture Capital (VCAP), Small and Medium Enterprises (SME) and Main Boards. Bonds and derivatives boards are proposed for launch during the first half of 2013.

Securities exchanges tend to facilitate substantial revenues for those who take part in the securities sector working around the exchange. The industries which directly support the securities industry would include trustee/corporate services, secretarial services, banking, accounting/auditing, corporate advisory, investment services, fund administrators, legal and more.

“We hope to attract as much of this revenue to Seychelles as possible leveraging and developing the existing infrastructure. As such, local businesses and professionals operating in these industries should begin preparing and thinking of ways in which they would like to participate in this new industry, updating/upgrading professional qualifications and securities related knowledge where needed and potentially considering strategic partnerships with overseas firms who operate in this segment,” Mr Brantley said.

Any local companies which may have an interest in listing on the new securities exchange should contact Trop-X, who would be happy to forward a draft of their draft Listing Requirements and make introduction to approved sponsor advisors who are accepted by Trop-X to provide pre-listing and ongoing listing advice to issuers.

“There are many benefits to listing even if the company is not in need of raising additional capital at the time. Listed companies trade at higher multiples to earnings providing an opportunity for existing shareholders to sell shares in a market which accesses a much larger potential pool of buyers at any time of their choosing.

Listed companies also enjoy other benefits such as free promotion due to their presence in media, higher degrees of trust with the public and brand building. Additionally it should be noted that a listing does not mean that all of the shares of the company must be sold.

Indeed it is common for only 10% or so of the issued capital to be offered either by the company or existing shareholders as part of an initial listing. The preparation process typically takes several months so if any parties are interested in listing and being part of the launch we would advise that preparations begin now,” commented Mr Brantley.

For any submissions or requests for further information Mr Brantley can be contacted at bobby@trop-x.com

Contributed

Source Seychelles Nation

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Re: Barclays Bank offers new banking services to its clients

Post  Sirop14 on Thu Jul 25, 2013 9:10 am

Africa’s regulators approve Absa-Barclays transaction, deal clears final hurdle - 25.07.2013

Absa Group Limited (Absa) this week announced that the combination of Absa with Barclays’ African businesses had cleared the final hurdle, opening the way for this transformational deal to be delivered on July 31, 2013.


A press communiqué from Barclays Banks Seychelles writes that the necessary conditions have been fulfilled (or, where appropriate, waived) to conclude the combination of Barclays Africa and Absa, including regulatory approvals in Seychelles, Botswana, Ghana, Kenya, Mauritius, South Africa, Tanzania, Uganda and Zambia.

The approval includes Barclays Bank Seychelles Limited, following regulatory approval for the transaction to go ahead by the Central Bank of Seychelles and other authorities in Seychelles.

Commenting on the development, Absa group chief executive and Barclays chief executive Africa Maria Ramos said: “This is a momentous achievement for Barclays in Africa. The deal marks an extraordinary milestone that sets us firmly on course to become the ‘Go-To’ bank on the continent. It means we can accelerate Africa’s true global potential by supporting the development of capital markets and providing a greater range of financial services on the continent.”

Reflecting the enlarged group’s pan-Africa focus, Absa Group Limited will change its name to Barclays Africa Group Limited on August 2, 2013. The Absa brand will still be used in South Africa while the strong Barclays brand will remain elsewhere, including in Seychelles.

Barclays will hold 62.3% of Barclays Africa Group Limited through the issue of 129.5 million ordinary shares by Absa, representing a value of approximately R18.3 billion. Barclays Bank Kenya Limited and Barclays Bank Botswana will continue to be listed on their respective stock exchanges.

Barclays Seychelles managing director Rakesh Jha said: “We are excited about the opportunities that this development brings to the growth of our business in the market, particularly the ability for us to offer our clients and customers the best of both Barclays and Absa services and products in Seychelles.”

As previously announced, Egypt and Zimbabwe are not included in this transaction, the communiqué adds, but they will remain an integral part of the African business and Barclays will continue to run them on an operational basis.

Maria Ramos concludes: “We have created one of the leading banking groups in Africa, strengthening our geographic footprint and increasing our growth opportunities on the continent. By capitalising on our heritage and seizing the opportunity in some of the fastest growing economies in the world, we are well positioned to win in Africa.”

http://www.nation.sc/index.php?art=32338

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