Regulatory Alerts2005-11-28
Decree No. 2005-832 of November 28, 2005 Approving the Annual Accounts for the 2004 Fiscal Year and Strengthening the Central Bank's Equity
The President of the Republic, acting on the proposal of the Minister of Economy, Finance and Budget in a Council of Ministers meeting, has issued Decree No. 2005-832 to approve the Central Bank's 2004 annual accounts and increase its capital from 200 million to 12 billion Ariary through reserve capitalization. The decree orders the publication of these accounts in the Official Journal and assigns execution duties to both the Economy, Finance and Budget Minister and the Central Bank Governor. This legal instrument formally strengthens the bank's equity base while ensuring coordinated governmental oversight of its financial reporting and capital structure.
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