Regulatory Alerts2000-10-27
Added · Updated
Instruction No. 004/2000 on Credit Institutions' Shareholdings
The Banking and Financial Supervision Commission (CSBF) of Madagascar issued Instruction No. 004/2000 to regulate credit institutions' acquisitions and holdings in company capital, capping individual shareholdings at 15% of available own funds (and 15% of the target company's capital) and aggregate holdings at 60%. The regulation exempts specific networked mutual financial institutions, activities extending core banking operations, and third-party agreements from these caps, while mandating periodic portfolio statements submitted to the CSBF General Secretariat. Credit institutions must align with these limits within six months of the instruction's October 27, 2000, issuance or face regulatory sanctions and penalties.
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