Regulatory Alerts2020-11-04
Instruction No. 007-DOM/20 of November 4, 2020 Amending Certain Provisions of Instruction No. 009-DOM/19 of October 25, 2019 on the Mandatory Reserve System
The Central Bank of Madagascar issued Instruction No. 007-DOM/20 to amend Article 4 of its October 2019 mandatory reserve framework. The directive reduces the mandatory reserve ratio on Ariary-denominated deposits to 11.0% while increasing the ratio on foreign currency-denominated deposits to 24.0%. These revised coefficients apply immediately upon signature, taking effect for the reserve-building period commencing in November 2020.
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