Regulatory Alerts2018-01-25
Law No. 2017-044 amending certain provisions of Law No. 95-030 of February 22, 1996 on the activity and supervision of credit institutions
The President of Madagascar promulgated Law No. 2017-044 to amend Law No. 95-030 of 1996, updating the composition and operational framework of the Banking and Financial Supervision Commission (CSBF) following the Central Bank's structural reorganization. The legislation replaces all references to "Central Bank" with "Banky Foiben'i Madagascar," redefines Article 36 to include the First Vice-Governor and establish non-renewable three-year terms for appointed members, and modifies Article 39 to mandate a uniform annual contribution from regulated institutions to fund the Commission's General Secretariat. These amendments ensure the CSBF maintains regular quorum and operational continuity under the Banky Foiben'i Madagascar's revised governance structure.