Regulatory Alerts2019-10-25
Instruction No. 010-DOM/19 amending certain provisions of Instruction No. 004-DOM/19 of 3 May 2019 establishing the Exchange Platform for Monetary and Interbank Operations
The Central Bank of Madagascar issued Instruction No. 010-DOM/19 to amend specific provisions of its May 2019 directive establishing the Exchange Platform for Monetary and Interbank Operations. The amendment establishes a strict claims procedure for credit institutions disputing monetary policy tender results, permanent facility requests, or interbank exchanges, mandating initial notification via telephone, electronic messaging, or fax followed by written confirmation within one business day. It further clarifies that tender parameters, including indicative transaction amounts, settlement and maturity dates, and bid deadlines, are published in the POMI system on the day of announcement, with the directive entering into force on 1 November 2019.