Regulatory Alerts2021-11-02
Instruction No. 004-DOM/21 amending certain provisions of Instruction No. 009-DOM/19 of October 25, 2019 on the mandatory reserve system and repealing Instruction No. 007-DOM/20 of November 4, 2020
The Central Bank of Madagascar issued Instruction No. 004-DOM/21 to repeal Instruction No. 007-DOM/20 and amend Article 4 of Instruction No. 009-DOM/19 regarding the mandatory reserve system. The amendment establishes a uniform mandatory reserve ratio of 13.0% calculated on both Ariary and foreign currency deposits, referencing the general framework set forth in Instruction No. 008-DOM/19. This directive takes effect immediately for the reserve accumulation period spanning November 3 to November 30, 2021.
Share