Decree No. 2019-2135 of November 26, 2019, setting the conditions for the withdrawal and exchange of certain types of banknotes issued by Banky Foiben'i Madagasikara

REPUBLIC OF MADAGASIKAR
Freedom - Equality - Fraternity
MINISTRY OF ECONOMY AND FINANCES
DECREE No. 2019-2135 setting the conditions for the withdrawal and exchange of certain types of banknotes issued by Banky Foiben'i Madagasikara

THE PRIME MINISTER, HEAD OF GOVERNMENT,
Having regard to the Constitution,
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 Law No. 2018-043 of February 13, 2019, on the fight against money laundering and terrorist financing, Having regard to Decree No. 2003-781 of July 8, 2003, approving the issuance of new types of banknotes of 10,000 Ariary, 5,000 Ariary, and 2,000 Ariary by the Central Bank of Madagascar, Having regard to Decree No. 2004-1040 of November 23, 2004, approving the issuance of new types of banknotes of Ariary 1,000, Ariary 500, Ariary 200, and Ariary 100 by the Central Bank of Madagascar, Having regard to Decree No. 2017-400 of May 23, 2017, approving the issuance of a new range of banknotes of 100 Ariary - 200 Ariary - 500 Ariary - 1,000 Ariary - 2,000 Ariary - 5,000 Ariary - 10,000 Ariary and 20,000 Ariary by Banky Foiben'i Madagasikara, Having regard to Decree No. 2019-1407 of July 19, 2019, appointing the Prime Minister, Head of Government, Having regard to Decree No. 2019-1410 of July 24, 2019, amended and supplemented by Decrees No. 2019-1857 of September 20, 2019 and No. 2019-2047 of October 30, 2019, appointing the members of the Government, On the proposal of the Minister of Economy and Finances, In Council of Government,

DECREES
Section One: General Provisions
Article 1. In accordance with the decision of the Board of Directors of Banky Foiben'i Madagasikara, abbreviated "BFM", dated April 26, 2019, legal tender status is discontinued for the following types of banknotes:

• banknotes of 10,000 Ariary, 5,000 Ariary, and 2,000 Ariary issued by Banky Foiben'i Madagasikara under Decree No. 2003-781 of July 8, 2003;
• banknotes of 1,000 Ariary, 500 Ariary, 200 Ariary, and 100 Ariary issued by Banky Foiben'i Madagasikara under Decree No. 2004-1040 of November 23, 2004.

Section II: On the Discontinuation of Legal Tender
Article 2. The legal tender status of the banknotes cited in Article 1 of this Decree ends on December 31, 2019.

Section III: On the Exchange Operation
Article 3. The exchange of the banknotes cited in Article 1 of this Decree takes place from January 2, 2020, to December 31, 2020, at the counters of BFM, banks, and the Public Treasury.
For exchange operations with the Public Treasury, these are conducted exclusively at the Main Treasury Offices listed in the annex to this Decree. The related procedures are established by an agreement concluded between BFM and the Public Treasury. Subject to the requirements set forth in this Decree, the banknotes cited in Article 1 are exchanged for legally tendered banknotes of the same face value.

Article 4. Beyond December 31, 2020, exchange operations will be conducted exclusively at the counters of BFM and its territorial representations until June 30, 2021.

Section IV: On Exchange Procedures
Article 5. The exchange of banknotes in cash will take place at the counters of BFM, commercial banks, and the Public Treasury during their opening hours by any individual presenting the banknotes to be exchanged along with a valid National Identity Card.
§ 1 On the maximum cash exchange amount
Article 6. The threshold for the maximum cash exchange amount of banknotes provided in Article 5 above is set at a maximum of 5,000,000 Ariary (five million Ariary).

§ 2 On the exchange of an amount exceeding the maximum
Article 7. Any exchange operation involving an amount exceeding the threshold set in Article 6 above must be conducted by deposit into a bank account.

Section V: On the application of provisions regarding the fight against money laundering and terrorist financing
Article 8. BFM, banks where exchange operations take place, and the public are required to comply with existing regulations governing the fight against money laundering and terrorist financing (AML/CFT).

Section VI: Miscellaneous Provisions
Article 9. All provisions contrary to this Decree are repealed, in particular those of Decree No. 2003-781 of July 8, 2003 and Decree No. 2004-1040 of November 23, 2004.

Article 10. As necessary, BFM establishes the application procedures for this Decree through instructions and circulars.

Section VII: Final Provisions
Article 11. Due to urgency and in accordance with Articles 4 and 6 of Ordinance No. 62-041 of September 19, 1962, regarding general provisions of internal law and private international law, this Decree enters into force immediately upon publication by radio broadcast and/or television or posting, independent of its insertion in the Official Journal of the Republic.

Article 12. The Minister of Economy and Finances, the Minister of Communication and Culture, and the Governor of Banky Foiben'i Madagasikara are each charged with executing this Decree according to their respective responsibilities, which will be published in the Official Journal of the Republic.

Done at Antananarivo, on November 26, 2019
By the Prime Minister, Head of Government Christian NTSAY The Minister of Economy and Finances RANDRIAMANDRATO Richard The Minister of Communication and Culture RAKOTONDRAZAFY ANDRIATONGARIVO Lalatiana

ANNEX
LIST OF 48 MAIN TREASURY OFFICES AFFECTED BY THE DEMONETIZATION

Region	Main Treasury Office	District Capital
1 ALAOTRA MANGORO	Andilamena	Andilamena
2 ALAOTRA MANGORO	Anosibe an'ala	Anosibe an'ala
3 AMORON'I MANIA	Ambatofinandrahana	Ambatofinandrahana
4 AMORON'I MANIA	Fandriana	Fandriana
5 AMORON'I MANIA	Manandriana	Ambovombe Centre
6 ANALANJIROFO	Soanierana Ivongo	Soanierana Ivongo
7 ANALANJIROFO	Vavatenina	Vavatenina
8 ANDROY	Bekily	Beraketa
9 ANDROY	Beloha	Beloha
10 ANDROY	Tsihombe	Tsihombe
11 ANOSY	Amboasary sud	Amboasary
12 ANOSY	Betroka	Betroka
13 ATSIMO-ANDREFANA	Ampanihy Ouest	Ampanihy Centre
14 ATSIMO-ANDREFANA	Ankazoabo sud	Ankazoabo sud
15 ATSIMO-ANDREFANA	Benenitra	Benenitra
16 ATSIMO-ANDREFANA	Beroroha	Beroroha
17 ATSIMO-ANDREFANA	Betioky sud	Betioky sud
18 ATSIMO-ATSINANANA	Befotaka sud	Befotaka sud
19 ATSIMO-ATSINANANA	Midongy du sud	Nosifeno
20 ATSIMO-ATSINANANA	Vondrozo	Vondrozo
21 ATSINANANA	Antanambao Manapotsy	Antanambao Manapotsy 1
22 ATSINANANA	Marolambo	Marolambo
23 ATSINANANA	Vatomandry	Vatomandry
24 BETSIBOKA	Kandreho	Kandreho
25 BETSIBOKA	Tsaratanana	Tsaratanana
26 BOENY	Ambato Boeny	Ambato Ambarimay
27 BOENY	Mitsinjo	Mitsinjo
28 BOENY	Soalala	Soalala
29 BONGOLAVA	Fenoarivo be	Fenoarivo Be
30 HAUTE MATSIATRA	Ikalamavony	Ikalamavony
31 IHOROMBE	lakora	lakora
32 IHOROMBE	Ivohibe	Ivohibe
33 MELAKY	Ambatomainty	Ambatomainty
34 MELAKY	Antsalova	Antsalova
35 MELAKY	Besalampy	Besalampy
36 MELAKY	Morafenobe	Morafenobe
37 MENABE	Belo sur Tsiribihina	Belo sur Tsiribihina
38 MENABE	Mahabo	Mahabo
39 MENABE	Manja	Manja
40 SOFIA	Analalava	Analalava
41 SOFIA	Bealalana	Bealalana
42 SOFIA	Befandriana Nord	Befandriana Nord
43 VAKINANKARATRA	Antanifotsy	Antanifotsy
44 VAKINANKARATRA	Betafo	Betafo
45 VATOVAVY FITOVINANY	Vohipeno	Vohipeno
46 VATOVAVY FITOVINANY	Ifanadiana	Ifanadiana
47 VATOVAVY FITOVINANY	Nosy varika	Nosy varika
48 VATOVAVY FITOVINANY	Ikongo	Ikongo

Approved to be annexed to Decree No. 2019-2135 of November 26, 2019 setting the conditions for the withdrawal and exchange of certain types of banknotes issued by Banky Foiben'i Madagasikara. By the Prime Minister, Head of Government, NTSAY Christian