Regulatory Alerts2018-10-05
Instruction No. 001-DSP/2018 of October 5, 2018 on the Closure of the Manual Clearing House of Antananarivo
The Governor of Banky Foiben’i Madagasikara issued Instruction No. 001-DSP/2018 to definitively close the Antananarivo manual clearing house effective November 2, 2018. The directive mandates that the exchange of instruments ineligible for the Telecompensation system be governed by a local recovery convention among participating members. Additionally, it repeals all provisions of the April 28, 2016 instruction that previously regulated manual clearing houses outside Antananarivo and defined the operating procedures for the Antananarivo facility.
INSTRUCTION NO. 001 – DSP / 2018 of October 5, 2018 on the Closure of the Manual Clearing House of ANTANANARIVO
The Governor of Banky Foiben’i Madagasikara,
Having regard to Law No. 2016-004 of July 29, 2016, supplemented by Law No. 2016-057 of February 2, 2017 establishing the statutes of the Central Bank of Madagascar,
Having regard to Decree No. 2014-1684 of October 29, 2014 on the appointment of the Governor of the Central Bank of Madagascar,
DECIDES:
Article 1: The manual clearing house of Antananarivo is definitively closed on November 2, 2018.
Article 2: The exchange of non-eligible instruments for the Telecompensation system is governed by the Local Convention for the recovery of non-eligible instruments for the Telecompensation system, established among the participating members.
Article 3: All provisions of Instruction No. 001-DSP/16 of April 28, 2016 on the closure of manual clearing houses outside Antananarivo and establishing the operating procedures of the manual clearing house located in Antananarivo are hereby repealed.
Antananarivo, October 5, 2018 The Governor, Alain H. RASOLOFONDRAIBE