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Mauritania - Financial sector development strategy and action plan 2013-2017 (English)

The financial sector comprises all institutions and agencies that are involved in financing the economy, mobilizing savings, managing risks and providing means of payment. In view of the importance of the services rendered, the financial sector constitutes the footing of development of the national economy. Economic growth, private sector development, job creation and poverty reduction depend on a sound, efficient and vigorous financial sector. In its efforts to develop the financial sector and enable it to effectively support the development of the national economy, the Government of Mauritania has sought the support of the World Bank and the International Monetary Fund (IMF). Accordingly, under the Financial Sector Assessment Program (FSAP), a joint International Monetary Fund (IMF) and World Bank mission conducted a study on the financial sector in Mauritania in February 2006. The study analyzed the financial performance, as well as the strengths and weaknesses of the sector institutions, and level of access to financial services. As at 31 December 2012, the financial sector comprised: (a) a Central Bank; (b) 17 licensed banks and financial establishments ; (c) 30 licensed microfinance institutions (MFI) and a project , (d) postal financial services ; (e) 11 insurance companies; (f) 2 social security schemes, with an institution, the National Social Security Fund (CNSS); and (g) 31 licensed foreign exchange offices. The total assets of these institutions stood at about UM 520 billion (about USD 2 billion). There is a nascent money market (treasury bills market and interbank market). There are no stocks and bonds market. Banks dominate the sector with nearly 93 percent of total assets.

Details

  • Document Date

    2013/01/01

  • Document Type

    Other Financial Sector Study

  • Report Number

    79331

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Mauritania,

  • Region

    Africa,

  • Disclosure Date

    2013/07/10

  • Disclosure Status

    Disclosed

  • Doc Name

    Mauritania - Financial sector development strategy and action plan 2013-2017

  • Keywords

    real time gross settlement;small and medium size enterprise;access to financial service;postal financial service;social security system;Financial Sector;financial sector development strategy;insurance companies;Trade and Economic Growth;number of bank accounts;Savings and Credit Cooperative;chart of account;payment system;scheme will;volume of transaction;engine of growth;means of payment;social security institutions;minimum capital;car insurance;treasury bill;public awareness campaign;banks' balance sheet;points of sale;internal control system;international standardization;real estate management;islamic banking product;transfer of fund;foreign exchange market;lack of resource;bill of exchange;microfinance and sme;current account deficit;public limited company;Portfolio at Risk;life insurance premium;social security scheme;interest rate decline;net domestic credit;chamber of commerce;allocation of contributions;access to bank;access to financing;amount of contribution;regulation and supervision;payment of salary;lack of awareness;quality of information;microfinance institution;pension scheme;financial statement;money market;supervisory authority;mobile banking;supplementary pension;financial establishment;professional association;credit service;long-term financing;insurance industry;interbank market;legal framework;commercial bank;microfinance sector;loan portfolio;actuarial study;banking sector;insurance supervision;banking system;credit institution;Labor Market;judicial environment;macroeconomic environment;long-term resource;real gdp;loan recovery;Agricultural Risk;banking institution;minimum share;maturity period;rural area;islamic finance;foreign bank;financial situation;stock market;checking account;islamic product;share capital;prudential standard;short-term loan;secondary sector;tertiary sector;long-term loan;national economy;money supply;microfinance regulation;net worth;financial cooperatives;electronic clearing;occupational risk;technical expertise;administrative expense;management fee;bond market;family allowance;institutional review;good performance;expenditure increase;fiscal balance;trade balance;control of costs;medium-term loans;world market;financial market;bank asset;increased spending;large bank;special account;supplementary scheme;prudential framework;state budget;budgetary constraint;future pension;administrative resource;outstanding claim;islamic principle;business promotion;islamic insurance;business risk;insurance market;financial information;Pension Income;physical inspection;long-term commitment;account management;benefit payment;fire insurance;age pyramid;pension system;parliamentary information;financial autonomy;autonomous agency;company executive;budgetary resource;financial control;certified accounts;local training;tax official;material resource;local company;company operating;financial transparency;net credit;demand deposit;registration procedure;iron ore;extractive activity;banking network;uninsured motorist;guarantee fund;compulsory insurance;increased competition;diversified portfolio;insurance sector;business volume;foreign company;foreign investor;commercial institution;military government;capital asset;coverage ratio;portfolio quality;individual bank;debt collection;internal capacity;solvency ratio;agreed price;installment payment;working capital;liquidity ratio;Vocational Training;banking license;tax system;entire portfolio;opportunity cost;credit operation;currency account;penetration rate;direct debit;unique identifier;international partners;clearing system;savings mobilization;Clearing houses;expensive facilities;bank transfer;card product;automatic transfer;term deposits;savings account;short-term deposit;savings deposit;consumption sector;cultural beliefs;account holder;risk assessment;Exchange Rates;housing development;Town Planning;managing risk;Job Creation;tax scheme;administrative supervision;financial supervision;operational objectives;Banking Law;Banking Regulation

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Citation

Mauritania - Financial sector development strategy and action plan 2013-2017 (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/833841468283142553/Mauritania-Financial-sector-development-strategy-and-action-plan-2013-2017