Regulatory Alerts2018-01-02
Law No. 2017-018 Governing the Integrated Information System of Banky Foiben'i Madagasikara
Issued by the Presidency of Madagascar, Law No. 2017-018 establishes the legal framework for Banky Foiben'i Madagasikara (BFM) to create, manage, and operate the Integrated Information System (SII). The law mandates BFM to collect, centralize, and process sensitive economic data from credit institutions, public bodies, and enterprises to support monetary supervision, financial inclusion, and risk assessment. It defines strict obligations for data providers regarding accuracy and confidentiality, grants concerned persons rights to access and rectify their information, and establishes specific administrative and criminal sanctions for non-compliance.
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