Publication: Islamic Republic of Mauritania : Financial Sector Development Strategy and Action Plan 2013-2017
Date
2013
ISSN
Published
2013
Author(s)
World Bank
Abstract
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.
Citation
“World Bank. 2013. Islamic Republic of Mauritania : Financial Sector Development Strategy and Action Plan 2013-2017. © Washington, DC. http://openknowledge.worldbank.org/handle/10986/16065 License: CC BY 3.0 IGO.”