Regulatory Alerts2017-03-02
Decree No. 2017-154 of March 2, 2017 Appointing Non-Executive Administrators of Banky Foiben'i Madagasikara
Issued by the President of Madagascar acting in Council of Ministers, Decree No. 2017-154 appoints eight non-executive administrators to Banky Foiben'i Madagasikara, designating five for a five-year term and three for a three-year term according to their respective affiliations with the Presidency, Senate, and National Assembly. The decree explicitly repeals all prior conflicting provisions, particularly Decree No. 2013-422, and charges the Minister of Finance and Budget together with the Bank’s Governor to enforce these appointments. Entering into force immediately upon radio or television broadcast rather than waiting for official journal publication, this urgent measure secures the central bank’s administrative leadership.
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