Instruction N°003-DPM/26 amending certain provisions of Instruction N°003-DOM/25 of April 28, 2025 relating to the Banky Foiben'i Madagasikara policy rate and the interest rate corridor system

BANKY FOIBEN'I MADAGASIKARA

MONETARY POLICY IMPLEMENTATION DIRECTORATE

INSTRUCTION N°003-DPM/26 amending certain provisions of Instruction N°003-DOM/25 of April 28, 2025 relating to the Banky Foiben'i Madagasikara policy rate and the interest rate corridor system.

The Governor of Banky Foiben'i Madagasikara,

Having regard to Law No. 2016-004 of July 29, 2016, supplemented by Law No. 2016-057 of February 2, 2017 on the Statutes of the Central Bank of Madagascar,

Having regard to Law No. 2020-011 of September 1, 2020 on banking law,

Having regard to Decree No. 2023-011 of January 10, 2023 repealing the provisions of Decree No. 2019-2069 of November 6, 2019 and appointing the Governor of Banky Foiben'i Madagasikara,

Having regard to Instruction No. 006-DOM/19 of October 25, 2019 relating to money market instruments, amended and supplemented by Instruction No. 003-DOM/24 of February 2, 2024, certain provisions of which were amended by Instruction No. 004-DOM/25 of April 28, 2025,

Having regard to Instruction No. 003-DOM/25 of April 28, 2025 relating to the Banky Foiben'i Madagasikara policy rate and the interest rate corridor system, certain provisions of which were amended by Instruction No. 005-DOM/25 of May 6, 2025,

Having regard to Instruction No. 007-DPM/25 of October 8, 2025 amending and supplementing certain provisions of Instruction No. 003-DOM/25 of April 28, 2025 and Instruction No. 005-DOM/25 of May 6, 2025 relating to the Banky Foiben'i Madagasikara policy rate and the interest rate corridor system.

DECIDES

Article 1:

The purpose of this Instruction is to amend Article 6 of Instruction No. 003-DOM/25 of April 28, 2025, as amended by Instruction No. 007-DOM/25 of October 2, 2025, relating to the Banky Foiben'i Madagasikara policy rate and the interest rate corridor system.

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P.O. Box 550 Antananarivo (101) - Madagascar - Tel. (261) 20 22 217 51 / 20 22 234 65 - Fax (261) 20 22 345 32 Website: www.banky-foibe.mg - Email: banky-foibe@bfm.mg

Article 2:

The provisions of Article 6 of Instruction No. 003-DOM/25 of April 28, 2025, are amended as follows:

Article 6 (new): The BFM policy rate is set at 12.50%.

Article 3:

All provisions contrary to this instruction are and remain repealed, notably Instruction No. 005-DOM/25 of May 6, 2025 in its entirety.

Article 4:

This Instruction enters into force on August 5, 2026.

Antananarivo, August 4, 2026

The Governor
Aivo H. ANDRIANARIVELO

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P.O. Box 550 Antananarivo (101) - Madagascar - Tel. (261) 20 22 217 51 / 20 22 234 65 - Fax (261) 20 22 345 32 Website: www.banky-foibe.mg - Email: banky-foibe@bfm.mg