Regulatory Alerts2023-12-22
Instruction No. 23/GR/2023 Amending and Supplementing Instruction 05/GR/2020 on Sanctions Applicable to Credit Institutions
The Governor of the Central Bank of Mauritania issued Instruction No. 23/GR/2023 to amend and supplement the regulatory framework for sanctions applicable to credit institutions. The directive introduces a tiered penalty coefficient system that scales with the number of unmet regulatory ratios, reclassifies infractions into four severity categories, and mandates escalating financial penalties for repeated or persistent breaches. It also specifies precise calculation methods for monetary sanctions across solvency, liquidity, risk concentration, related-party transactions, fixed asset coverage, and foreign exchange violations, while establishing stricter penalties for delayed reporting and concealment of financial data.
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