Regulatory Alerts2018-01-25
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Law No. 2017-044 amending certain provisions of Law No. 95-030 of February 22, 1996 on the activity and supervision of credit institutions
Law No. 2017-044 replaces all references to the Central Bank of Madagascar with Banky Foiben'i Madagascar in Law No. 95-030 of 1996. It redefines the composition of the Banking and Financial Supervision Commission (CSBF) to include the Governor and First Vice-Governor of Banky Foiben'i Madagascar, establishes the Bank's role in providing the Commission's General Secretariat, and mandates annual contributions from supervised institutions based on their net banking income. Article 4 of the law was not promulgated following a decision by the High Constitutional Court.
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