Regulatory Alerts2020-09-18
Instruction No. 005-DOM/20 of September 18, 2020 on the establishment of an exceptional refinancing instrument to support the activities of certain enterprises
The Central Bank of Madagascar issued Instruction No. 005-DOM/20 to establish an exceptional refinancing instrument providing fixed-rate liquidity injections at 4.97% to commercial banks. This facility is exclusively designated to support enterprises with an annual turnover of five billion Ariary or less, requiring banks to allocate funds solely to these businesses and submit monthly compliance reports. Banks must use eligible Treasury securities as collateral, adhere to strict monthly bidding schedules, and maintain dedicated accounting sub-accounts, with prior contradictory instructions explicitly repealed.
Share