Regulatory Alerts2021-03-11
Law No. 2020-011 on Banking Law
The President of the Republic, acting on the adoption by the National Assembly and Senate, enacted Law No. 2020-011 to regulate banking services in Madagascar by defining credit institutions and other service providers. The legislation establishes comprehensive operational rules, including public fund reception, credit operations, leasing, factoring, crowdfunding, and payment management. It further mandates the Banking and Financial Supervision Commission to oversee licensing, governance, risk management, and license withdrawal procedures to ensure financial stability.
Share