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The idea of constructing a new building for the future Central Bank was conceived as far back as May 1979. It arose out of the pressing need of the Monetary Authority for adequate accommodation, particularly for a more secure and spacious currency vault in the circumstance of a fast expanding currency issue. When the Central Bank took over from the Monetary Authority, it functioned in four separate locations in two buildings, the Liberty House with currency verification and destruction being carried out in the same building. Banking transactions were conducted over the counters, which the Bank shared with the Treasury, while currency stocks were held in one strong room on the ground floor and in two other rooms in the basement of Liberty House. The Research Department occupied the top floor of the three-storey block of the Pirates Building.
In 1984, the new Central Bank Building was finally completed and was officially opened by the then President of Seychelles, Mr. France Albert Rene, on June 4 of the same year. The official opening was attended by a number of foreign guests from various organisations as well as government officials and members of the Central Committee. The guest of honour for the occasion was Mr. Shridath Ramphal, the then Secretary General of the Commonwealth.
The building is one of the most impressive in Victoria and is an important land mark worthy of the unique position occupied by the Central Bank in the financial system in Seychelles. It is a three-storey structure, fully air-conditioned and covers a total area of some 3,500 square metres. It is located on Independence Avenue between the Independence House and the Pirates Arms Building.