Regulatory Alerts2019-03-01
Decision No. 003/2019-CSBF Approving Orange Money Madagascar as an Electronic Money Institution
The Banking and Financial Supervision Commission (CSBF) of Madagascar has approved Orange Money Madagascar as an electronic money institution (EMI), authorizing it to routinely conduct mobile electronic money issuance, funding, withdrawal, transfer, and storage operations. This approval is contingent upon the company completing its legal transformation, submitting updated corporate documents, implementing its approved project, and establishing an external audit plan for its information systems within six months. The decision officially supersedes the company's prior 2012 authorization as a banking intermediary and takes effect upon CSBF confirmation that all suspensive conditions have been met.
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