Signing of a memorandum of understanding between ACAPS and the Malagasy Banking and Financial Supervision Commission

The Supervisory Authority of Insurance and Social Welfare (ACAPS) and the Banking and Financial Supervision Commission (CSBF) signed a memorandum of understanding on January 27th, 2026, in Nosy-Be (Madagascar), aimed at framing and structuring their cooperation in the supervision of insurance and reinsurance activities.

The agreement, signed by Mr. Abderrahim Chaffai, President of ACAPS, and Mr. Aivo H. Andrianarivelo, President of CSBF, reflects a shared commitment to strengthening institutional relations and supporting a coordinated approach to supervision based on regular dialogue and a better understanding of each other's practices.

Through this partnership, the two authorities intend to develop cooperation arrangements tailored to the common challenges facing the insurance sector, particularly in terms of the financial soundness of operators, risk management, protection of policyholders, and adaptation of supervisory frameworks to changing markets and practices.

The agreement, which is in line with South-South cooperation, demonstrates the shared commitment of ACAPS and CSBF to strengthening institutional capacities and consolidating effective insurance supervision, with a view to contributing to the stability, integrity, and proper functioning of insurance markets, in the interests of protecting policyholders and beneficiaries.

About the CSBF
The Banking and Financial Supervision Commission (CSBF) is responsible for regulating, controlling, and supervising banking, financial, and similar institutions in Madagascar. It ensures the soundness of the national financial system, the stability of the institutions under its control, and compliance with the prudential and governance rules applicable to operators in the sector.
In the insurance sector, the CSBF carries out specific supervisory and control tasks aimed at ensuring the solvency of the insurance sector, sound risk management, and the protection of policyholders and beneficiaries.