Regulatory Alerts2009-01-01
Instruction No. 09/GR/07 on Financial Transparency Standards Applicable to Microfinance Institutions
The Central Bank of Mauritania issued Instruction No. 09/GR/07 to establish comprehensive financial transparency and prudential standards for Microfinance Institutions (MFIs). The regulation mandates specific interim accounting frameworks, standardized provisioning for non-performing loans, quarterly reporting obligations, and mandatory public disclosure of Annual Percentage Rates of Charge. It further requires MFIs to implement robust internal controls, calculate detailed portfolio quality and profitability ratios, and submit to ongoing supervision by the Central Bank.
Share