Regulatory Alerts2023-05-23
Decree No. 2023-029 BIC
Issued by the Prime Minister of Madagascar, Decree No. 2023-029 establishes the implementation rules for Law No. 2017-045 governing Credit Reporting Agencies (CRAs) and Unsupervised Entities (UEs). It mandates UEs—including utilities, telecoms, retailers, and microfinance entities—to provide credit data to CRAs, obtain explicit client consent, and appoint data protection officers while adhering to strict confidentiality and data retention periods. The decree outlines reciprocal access rights, standardized complaint resolution timelines, BFM supervisory powers, and phased compliance deadlines for UE integration into the national credit information system.
Share