Regulatory Alerts2019-12-31
Decision No. 016/2019 - CSBF Granting a Currency Exchange Office License in the Name of "Activa Change" to Activa SARL
The Banking and Financial Supervision Commission (CSBF) of Madagascar issued Decision No. 016/2019-CSBF to grant a currency exchange office license to Activa SARL under the operating name "Activa Change". The decision authorizes the company to routinely purchase and sell foreign currencies in cash or traveler's checks and collect foreign currency checks, subject to the posting of a guarantee bond, submission of updated administrative documents, opening of dedicated bank accounts, and project implementation within three months. The license becomes effective upon verification of these conditions and requires public display at all operational sites, with the decision lapsing if compliance is not demonstrated within the stipulated timeframe.
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