MoU with Central Bank

BFM (Banky Foiben’i Madagasikara) and SAMIFIN (Madagascar Financial Intelligence Service) signed a partnership agreement or “memorandum of understanding” (MOU) on Thursday January 18, 2024 at 10 a.m. at SAMIFIN Ambohijanaka.

This is a cooperation agreement which further strengthens the exchange of information and experiences between the two institutions, and which constitutes a guarantee of good understanding and fraternity in the working relations between the two entities. The Head of FIU Madagascar, Mr. Mamitiana Rajaonarison and the Governor of the BFM, Mr. Aivo Andrianarivelo each conveyed this message of fraternity and good understanding for a common objective of success in the fight against money laundering capital and the financing of terrorism.

Thus, the Director General of SAMIFIN emphasized the importance and the special place that the BFM occupies in cooperation with SAMIFIN. “The BFM and SAMIFIN experience cooperation on a daily basis through the exchange of useful advice for the accomplishment of the work. The BFM is a dynamic and convinced partner in terms of commitments in AML/CFT,” he underlined. As for the Governor of the BFM, he indicated that his institution would cooperate with the entities involved in AML/CFT, especially SAMIFIN, until the final objective is achieved, because “what impacts others also impacts us » he clarified. As a result, the BFM is ready to leave its comfort zone to move towards this objective, and he recalled his speech at the opening of the 50th anniversary of the BFM, namely the latter's commitment to promulgate the law relating to AML/CFT in Madagascar.

Now that it has been adopted in Parliament, it remains to adopt the implementing decree and he added that the BFM would always be present to lobby the authorities. “It would also be good if the 23 criteria on which Madagascar is not yet compliant are done before the final evaluation of the HLM (ESAAMLG high-level mission), so that we can say that we have accomplished our part . This is why the signing of this partnership agreement is important, and we thank SAMIFIN for opening up to us, because it is in our common interest to leave a legacy to future generations,” he said. concluded.