Central Bank of Madagascar

Source: Wikipedia, the free encyclopedia.
Central Bank of Madagascar
Banky Foiben'i Madagasikara
Established1974
Ownership100% state ownership[1]
GovernorAivo Andrianarivelo[2]
Central bank ofMadagascar
CurrencyMalagasy ariary
Reserves750 million USD[1]
Websitewww.banky-foibe.mg

The Central Bank of Madagascar (Malagasy: Banky Foiben'i Madagasikara; French: Banque Centrale de Madagascar, BCM) is the central bank of Madagascar.

The bank's mission is to, in collaboration with the general government, and in observation of the laws of finance, to maintain the general political economy of Madagascar; and to maintain the national monetary reserves. The offices of the bank are located in Antananarivo.

The Central Bank of Madagascar is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.[3]

History

The Banque Centrale de Madagascar has origins in the

Banque de Madagascar et des Comores was formed ; concurrent with the creation of many other African franc
currencies.

After Madagascar's independence from France in 1960, Madagascar began issuing the Malagasy franc (MGF) again, as the currencies of the Comoros and Madagascar were separated.

In 1973, Madagascar left the

Institut d'Émission Malgache until 1974 when the Banque Centrale de Madagascar was formed. Since 2005, the Malagasy ariary
(MGA), issued by the Banque Centrale de Madagascar, has been the country's currency.

Operations

The bank maintains departments of microfinance and of economic research.

The BCM reports to the government agency: Commission de Supervision Bancaire et Financière.

The bank maintains 2 branches and 8 agency offices:

Branches:

Agency Offices:

List of governors

See also

References

  1. ^ a b Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ a b Margulies, Ben (January 10, 2023). "Madagascar central bank has new governor". www.centralbanking.com.
  3. ^ "AFI members". AFI Global. 2011-10-10. Archived from the original on 2012-02-20. Retrieved 2012-02-17.
  4. ^ "Banky Foiben'i Madagasikara".

External links


Madagascar

This Madagascar-related article is a stub. You can help Wikipedia by expanding it.

Stub icon

This African bank or banking-related article is a stub. You can help Wikipedia by expanding it.

Retrieved from "https://en.wikipedia.org/w/index.php?title=Central_Bank_of_Madagascar&oldid=1186953118"