Regulatory Alerts2017-05-23
Decree No. 2017-400 Establishing the Issuance of a New Range of Banknotes Denominated 100, 200, 500, 1,000, 2,000, 5,000, 10,000 and 20,000 Ariary by Banky Foiben'i Madagasikara
The Prime Minister of Madagascar, acting on the proposal of the Ministry of Finance and Budget, issues Decree No. 2017-400 to establish the issuance of a new range of banknotes denominated 100, 200, 500, 1,000, 2,000, 5,000, 10,000, and 20,000 Ariary by Banky Foiben'i Madagasikara. The decree schedules the release of higher denominations for July 2017 and lower denominations for September 2017, while confirming that previously issued notes retain their legal tender status until a subsequently fixed date. Enacting immediately upon radio or television broadcast publication, the decree mandates the Minister of Finance and Budget, the Minister of Communication and Institutional Relations, and the Central Bank Governor to ensure its execution.
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