Regulatory Alerts2026-01-06
Banking Law No. 2020-011
Promulgated by the President of Madagascar following National Assembly and Senate adoption, this law establishes the comprehensive operating and supervisory framework for banking services within the Republic. It classifies Credit Institutions into banks, financial institutions, and microfinance entities while mandating that all providers obtain prior approval from the Banking and Financial Supervision Commission (CSBF) based on transparent governance, financial viability, and robust risk management. The legislation further defines authorized banking operations, enforces anti-money laundering and cyber-security standards, outlines approval withdrawal procedures, and empowers CSBF to issue binding regulations ensuring financial stability and consumer protection.