50 Francs

The Banque de Madagascar et des Comores was a colonial institution established in 1950 when the earlier Banque de Madagascar was reorganized to formally incorporate the Comoros Islands into its mandate — a purely administrative reshaping that changed the letterhead more than the banking practice. Clément Serveau designed extensively for French colonial currency throughout the mid-twentieth century, with Banque de France producing the plates to a consistently high intaglio standard. Poilliot and Régnier were both accomplished engravers within that atelier, their division of labor across obverse and reverse being routine for the period.

The series ran across a decade without significant design revision, which occasionally makes precise dating within the 1950–1960 window difficult where manuscript dates are faded or absent.