Regulatory Alerts1997-06-02
Instruction No. 002/97-CSBF of June 2, 1997 on the Approval of Credit Institutions
The Banking and Financial Supervision Commission (CSBF) issued Instruction No. 002/97-CSBF on June 2, 1997, to define the licensing procedure for credit institutions in Madagascar under Article 16 of Law No. 95-030. The regulation requires applicants to submit complete, standardized files detailing capital contributions, executive qualifications, and projected operations, subject to a one-month CSBF review period. It further specifies the documentation standards for capital providers holding at least 5% of equity, project implementation deadlines, and the voidance conditions for non-compliant applications.
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