Regulatory Alerts1973-03-13
Ordinance No 73-008 of March 13, 1973 on the Global Mobilization of Bank Credits
The Malagasy Issuing Institute, through Ordinance No. 73-008 of March 13, 1973, authorizes banks and financial institutions to mobilize primary commercial instruments or global mobilization instruments through discount or repurchase agreements. Credit institutions must obtain individual authorization, explicitly reference the Ordinance in relevant contracts and instruments, submit original contract copies for approval, and maintain separate accounting records. Upon mobilization, all associated rights, claims, interest, fees, and specific guarantees automatically transfer to the Issuing Institute, while the originating institutions waive further mobilization of the substituted primary instruments and restrict their circulation to collection purposes.