Regulatory Alerts2003-07-07
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Law No. 2003-004 of July 7, 2003 Amending Article 7 of Law No. 94-004 of June 10, 1994 on the Statutes of the Central Bank of Madagascar
This law amends Article 7 of the statutes of the Central Bank of Madagascar to establish the Ariary as the country's monetary unit. It additionally permits the continued use of the denominations 'Franc malgache' or 'Iraimbilanja', each valued at one-fifth of an Ariary. The law mandates that regulatory texts define its implementation details and requires its publication in the Official Journal of the Republic.
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