World Library  
Flag as Inappropriate
Email this Article

Central Bank of Madagascar

Article Id: WHEBN0008361745
Reproduction Date:

Title: Central Bank of Madagascar  
Author: World Heritage Encyclopedia
Language: English
Subject: List of central banks, Economy of Madagascar, List of banks in Madagascar, National Bank of Panama, Central Bank of Bolivia
Publisher: World Heritage Encyclopedia

Central Bank of Madagascar

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.[1] 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.[1]


The Banque Centrale de Madagascar has origins in the Banque de Madagascar, which issued the Madagascar-Comores CFA franc, beginning in 1925, as Madagascar's currency. In 1945, after the creation of Territory of Comoros, 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 Madascar were separated.

In 1973, Madagascar left the CFA franc zone and the Malagasy franc was declared inconvertible by the authorities of the Confederation Franc Africaine. Madagascar's coins and banknotes were then issued by Madagascar's Institut d'Émission Malgache until 1974 when the Banque Centrale de Madagascar was formed. And, since 2005, the Malagasy ariary (MGA), issued by the Banque Centrale de Madagascar, has been the country's currency.

caisse centrale de la France d'outre-mer.


The bank maintains departments of microfinance and of economic research.

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

The bank maintains 2 branches:

...and 8 agency offices:

List of governors

See also


  1. ^ "AFI members". AFI Global. 2011-10-10. Retrieved 2012-02-17. 

External links

  • (French) Official site of Banque Centrale de Madagascar
  • BCM Organizational Chart

This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.