Regulatory Alerts2024-02-07
Instruction No. 001-DOM/24 amending certain provisions of Instruction No. 009-DOM/19 of October 25, 2019 on the mandatory reserve system and repealing Instruction No. 002-DOM/23 of April 26, 2023
The Central Bank of Madagascar issued Instruction No. 001-DOM/24 to repeal Instruction No. 002-DOM/23 and amend Article 4 of Instruction No. 009-DOM/19 regarding the mandatory reserve system. The amendment establishes a uniform mandatory reserve ratio of 12.00% applicable to both Ariary and foreign currency deposits, referencing Article 7 of the general framework instruction. This directive supersedes previous reserve requirements and officially takes effect on February 7, 2024.
Share