Regulatory Alerts2007-01-15
Ordinance No. 2007/005 on the Regulation of Microfinance Institutions
The Military Council for Justice and Democracy of Mauritania issued Ordinance No. 2007/005 to regulate Microfinance Institutions (MFIs) and their umbrella structures operating within the country. The Ordinance establishes the Central Bank of Mauritania as the supervisory authority, classifies MFIs into three categories based on legal form and target clientele, and mandates prior approval or registration for all microfinance activities. It further defines permissible operations, capital requirements, governance rules for financial cooperatives, and detailed procedures for mergers, dissolutions, and liquidations to ensure network cohesion and financial stability.
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