Regulatory Alerts2009-07-23
Instruction No. 002-DCR/09 of July 23, 2009 on Risk Reporting by Microfinance Institutions
The Governor of the Central Bank of Madagascar issued Instruction No. 002-DCR/09 to mandate microfinance institutions (MFIs) to report all loans and beneficiary data to the Microfinance Risk Center (CRM). The directive establishes secure electronic reporting, defines beneficiary coding standards, sets a monthly cut-off with a 15-day submission window, and details borrower consent rights, data correction procedures, and professional secrecy obligations. Non-compliance triggers sanctions under existing credit laws, while transitional provisions grant a six-month period for consent collection and identifier assignment.
Share