Regulatory Alerts2021-05-04
Instruction No. 001/2021-CSBF Amending Instruction No. 003/2017-CSBF of 29 September 2017 on the Global Account of Electronic Money Institutions
The Banking and Financial Supervision Commission (CSBF) of Madagascar issued Instruction No. 001/2021-CSBF to amend the regulatory framework for the global accounts of electronic money institutions. The amendment inserts a new paragraph 7.3 into Article 7, explicitly limiting authorized credit institutions conducting electronic money activities to a maximum of five global accounts. This directive enters into force immediately upon publication on the Central Bank of Madagascar’s website, while all other provisions of the original 2017 instruction remain unchanged.
Share