Regulatory Alerts2007-01-09
Decree No. 2007-012 Establishing the Legal Forms of Microfinance Institutions and Their Registration Procedures with the Trade and Companies Register
The First Minister of Madagascar issued Decree No. 2007-012 to establish the legal forms and registration procedures for microfinance institutions under the Trade and Companies Register. The decree mandates that mutualist MFIs adopt cooperative or joint stock company structures, while non-mutualist MFIs must form associations, NGOs, limited liability companies, or joint stock companies depending on their operational level and deposit-taking activities. Furthermore, it sets strict timelines for existing financial institutions to transform, classify, and complete their network registration within two years of the law's enactment.
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