Regulatory Alerts2018-04-12
Instruction No. 001/2018-CSBF on the Exercise of Electronic Money Activities by Credit Institutions
The Commission for Banking and Financial Supervision (CSBF) of Madagascar has issued Instruction No. 001/2018-CSBF to establish the regulatory framework for credit institutions exercising electronic money activities. The Instruction mandates that applicants satisfy financial, organizational, technical, control, and consumer protection conditions while submitting a detailed authorization dossier for prior approval. It further outlines the three-month processing timeline, decision-making powers, suspensive conditions, and grounds for rejection to ensure financial soundness and operational security.
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