Instruction No. 001-DOM/24 amending certain provisions of Instruction No. 009-DOM/19 of October 25, 2019 on the mandatory reserve system and repealing Instruction No. 002-DOM/23 of April 26, 2023

CENTRAL BANK OF MADAGASCAR

DIRECTORATE OF MONETARY OPERATIONS

INSTRUCTION NO. 001-DOM/24 amending certain provisions of Instruction No. 009-DOM/19 of October 25, 2019 on the mandatory reserve system and repealing Instruction No. 002-DOM/23 of April 26, 2023

The Governor of the Central Bank of Madagascar,

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

Having regard to Instruction No. 008-DOM/19 of October 25, 2019 on the general framework governing mandatory reserves,

Having regard to Instruction No. 009-DOM/19 of October 25, 2019 on the mandatory reserve system,

DECIDES

Article 1:

This Instruction aims to repeal the provisions of Instruction No. 002-DOM/23 of April 26, 2023 and amend the provisions of Article 4 of Instruction No. 009-DOM/19 of October 25, 2019 on the mandatory reserve system.

Article 2:

The provisions of Article 4 of Instruction No. 009-DOM/19 of October 25, 2019 on the mandatory reserve system are amended as follows:

« Article 4 (new): With reference to Article 7 of Instruction No. 008-DOM/19 of October 25, 2019 on the general framework governing mandatory reserves, the mandatory reserve ratio calculated on deposits in Ariary and foreign currency is set at 12.00%. »

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Article 3:

Instruction No. 002-DOM/23 of April 26, 2023, which repealed Instruction No. 004-DOM/21 of November 2, 2021 and amended certain provisions of Instruction No. 009-DOM/19 of October 25, 2019 on the mandatory reserve system, is hereby repealed in its entirety.

Article 4:

This Instruction shall enter into force as of February 7, 2024.

Antananarivo, January 29, 2024

[Signature]

THE GOVERNOR
AIVO HANDRIATIANA ANDRIANARIVELO

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