On November 11 the Central Bank of Seychelles was forced to take the type of action more common among its G8 peers six years ago as they fought to safeguard the global financial system from outright collapse.
That Tuesday the central bank of the paradise Indian Ocean archipelago moved to take full control of a tiny and largely unknown financial institution called BMI Offshore Bank, concluding, after an investigation into its operations, that it had to act to safeguard the bank’s depositors.
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