Regulatory Alerts2014-03-17
Added · Updated
Instruction No. 001/2014-CSBF on the Shareholding of a Territorial Bank
The Banking and Financial Supervision Commission (CSBF) of Madagascar issued Instruction No. 001/2014-CSBF to mandate that all territorial banks secure a reference financial partner within their shareholding structure. This instruction requires the partner to hold blocking minority voting rights, possess internationally recognized financial capacity and banking expertise, and submit a formal letter of comfort committing to long-term participation, ongoing financial support, and active governance oversight. Existing territorial banks are granted an eighteen-month compliance period from the instruction's notification date, while new applicants must demonstrate full adherence to these capital and management requirements during their approval process.
More like this from BFM
BFM published 2 documents in the last 30 days. We email you each new one the day it's published.