100 Francs

The Banque de Madagascar et des Comores was itself a transitional institution — created in 1950 when the old Banque de Madagascar was reconstituted to include the Comoro Islands under a single currency authority, ahead of the territorial reorganizations that would eventually pull the two jurisdictions apart. Notes of this series were therefore simultaneously legal tender across Madagascar and the Comoros, an arrangement that lasted only until Comorian independence reshaped the monetary picture in the 1970s.

Beltrand was one of the more accomplished engravers working for the Banque de France's printing workshops in the postwar decades. His work on the obverse is worth noting for that reason, even if the design itself follows the colonial-era house style closely.