The Central Bank of Madagascar has clarified that it acts solely as the secure custodian of seized gold and other valuables entrusted to it by competent authorities. The bank is responsible for safeguarding the assets and maintaining their traceability and integrity until the relevant authority determines their disposition. Article 396, paragraph 2c, of Law 2023-007 reforming the Mining Code requires seized precious stones, gemstones and precious metals to be deposited with the central bank. The bank does not decide whether the assets should be returned, disposed of or used, as those decisions remain with the competent authorities under applicable laws and regulations.
2026-09-17Central Bank of Madagascar
Central Bank of Madagascar clarifies neutral custodial role for seized gold
The Central Bank of Madagascar has clarified that its role regarding seized gold and other valuables is limited to secure custody, traceability and preservation. Decisions on returning, disposing of or using the assets remain with the competent authorities.