Regulatory Alerts2026-01-14
Decision No. 010/2025-CSBF on the Withdrawal of Authorization for Entreprendre a Madagascar Finances (EAM-Finances)
The Banking and Financial Supervision Commission (CSBF) of Madagascar has withdrawn the authorization of Entreprendre a Madagascar Finances (EAM-Finances) as a non-mutualized microfinance institution due to over six months of inactivity, supported by a June 2025 bailiff's report. The decision mandates immediate liquidation overseen by a court-appointed liquidator, restricts EAM-Finances to strictly necessary settlement operations while maintaining supervised credit institution status, and ensures its continued regulatory oversight until liquidation closes. Consequently, EAM-Finances' registration on the official credit institutions list will be formally cancelled upon liquidation completion, with the decision taking effect upon notification and published on the central bank's website.