Regulatory Alerts2004-11-23
Decree No. 2004-1040 of November 23, 2004 Authorizing the Issuance of New Ariary Banknotes (1,000, 500, 200, and 100) by the Central Bank of Madagascar
The Central Bank of Madagascar, pursuant to Decree No. 2004-1040 of November 23, 2004, authorizes the issuance of new Ariary banknotes in denominations of 1,000, 500, 200, and 100. The decree establishes initial circulation dates of November 25, 2004, for the 200 and 100 notes, and December 20, 2004, for the 1,000 and 500 notes. It further mandates that existing Malagasy Franc banknotes of 5,000, 2,500, 1,000, and 500 retain cumulative legal tender status alongside the new notes upon immediate effect following broadcast or posted publication.
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