Regulatory Alerts2020-06-30
Instruction No. 0.5 IGR/2020 on Sanctions Applicable to Credit Institutions
The Central Bank of Mauritania issued Instruction No. 0.5 IGR/2020 to establish a comprehensive disciplinary sanction framework for credit institutions, their directors, and senior management. The directive outlines a graduated system of penalties ranging from written warnings and temporary operational suspensions to partial or total license revocation, with pecuniary fines categorized by severity and capped at 50 million MRU. It further mandates strict procedural safeguards, including formal notifications, hearing rights, and cumulative application with criminal sanctions, while introducing automatic penalty payments for persistent non-compliance.
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