In accordance with Article 2, Paragraph 2 of Decree No. 2023-560 of May 17, 2023, concerning the issuance of 50 Ariary commemorative gold coins, Central Bank of Madagascar defines the practical modalities for the sale of gold coins.

These Terms and Conditions apply without restriction or reservation to future purchasers.

To ensure transparency, the management of acquisition requests from the public will be carried out automatically, and registrations will be exclusively online at www.banky-foibe.mg in compliance with legal provisions concerning the protection of personal data.

Article 1 – OBJECT

1. 1. These Conditions define the rules applicable to the sale of the 50 Ariary commemorative gold coins issued by BFM as part of its 50th anniversary.

Article 2 – APPLICABLE RULES

2.1. General Principles

The acquisition of the gold coins follows the principles outlined below :

a) The presentation of an identity document (CIN; Passport; Resident Card);

b) BFM reserves the right to reject a registration without being required to provide reasons for the refusal;

c) Registration applications will be processed chronologically, respecting the order of form validation. In this regard, the identification number provided by email will serve as proof;

d) Any person registered in the Payment Incident Central managed by BFM will automatically be excluded from the sales process ;

e) Be the holder of a current account opened with a bank or a Microfinance Institution through which payment to BFM will be made;

f) Have correctly completed the registration form and provided the requested documents as attachments ;

g) Have read and accepted these Sales Conditions.

 

2.2. Payment Modalities

a) Payment will be made by check payable to Banky Foiben'i Madagasikara or by bank transfer.

b) The delivery of the gold coin will only be initiated after the final crediting of Banky Foiben'i Madagasikara's bank account.

 

2.3. Communication at each stage of the registration process :

Purchasers will be notified of the progress of their orders:

a) Validation of the registration form;

b) Acceptance of the registration and payment, or rejection of the registration;

c) Payment confirmation and selection of the delivery method;

d) Availability of the gold coin (type of availability and pickup appointment).

At each major stage of the registration process, the purchaser will receive notifications via SMS and/or email.

BFM will send official instructions regarding the sale through this email address.

 

2.4. Delivery

After the payment, the gold coin could be:

a) Picked up by the purchaser or their representative at the BFM Headquarters or one of its territorial branches on the date selected on the platform. If the purchaser is unable to present themselves on the previously agreed date, the appointment can be rescheduled;

b) Deposited in BFM's vaults upon signing a Deposit Agreement [and issuance of a certificate upon request];

Once the coin has been picked up, it cannot be deposited back into BFM's vaults.

Coins not picked up on the agreed date will be subject to reminders sent to their purchasers for the signing of a Deposit Agreement. If the purchasers fail to respond within the given timeframe, BFM will take the necessary legal action.