Regulatory Alerts2000-10-27
Instruction No. 005/2000 on the Exercise by Credit Institutions of Non-Banking Activities
The Banking and Financial Supervision Commission (CSBF) of Madagascar issued Instruction No. 005/2000 to regulate how credit institutions may habitually conduct non-banking activities beyond their core operations. The directive permits banks to manage unallocated movable and immovable assets, provide complementary client services such as administrative formalities and insurance subscriptions, and utilize banking resources for ancillary services like data processing and fund transport. These activities are subject to a revenue cap of 10% of the preceding year's net banking income, require compliance with licensing and risk management standards, and mandate periodic reporting to the CSBF General Secretariat.
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