Regulatory Alerts2025-04-25
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Instruction No. 001-2025-CSBF on the Approval of Banks and Financial Institutions
The Commission de Supervision Bancaire et Financière (CSBF) of Madagascar issued Instruction No. 001-2025-CSBF to establish the procedures and criteria for approving new banks and financial institutions. The regulation mandates a rigorous six-month review process, requiring promoters to demonstrate robust governance, financial solidity, and compliance with anti-money laundering standards. It further defines specific operational criteria for different institution categories and sets transitional deadlines for existing entities to regularize their status under the new framework.
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