Regulatory Alerts2017-02-02
Law No. 2016-056 on Electronic Money and Electronic Money Institutions
Issued by the Presidency of the Republic, Law No. 2016-056 establishes a comprehensive legal framework for electronic money and mobile money services in Madagascar, defining the roles of institutions, users, and distribution agents. The legislation mandates regulatory oversight by the Banking and Financial Supervision Commission (CSBF), sets prudential and operational standards, and enforces consumer protection, data privacy, and anti-money laundering obligations. By formalizing the informal sector and streamlining financial flows, the law aims to drive inclusive economic growth through secure digital payment mechanisms.
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