Regulatory Alerts2023-04-26
Instruction No. 002-DOM/23 of April 26, 2023 amending certain provisions of Instruction No. 009-DOM/19 of October 25, 2019 on the mandatory reserve system and repealing Instruction No. 004-DOM/21 of November 2, 2021
The Central Bank of Madagascar issued Instruction No. 002-DOM/23 on April 26, 2023, to amend the mandatory reserve system framework and repeal Instruction No. 004-DOM/21. The directive establishes a uniform mandatory reserve ratio of 9.00% for deposits held in both Ariary and foreign currencies. This measure enters into force immediately upon signature and applies to the reserve accumulation period from April 5 to May 9, 2023.
Share