Regulatory Alerts2020-03-31
Instruction No. 03 GR/2020 Partially Amending Instruction 05/GR/2014 on the Classification of Claims and Provisioning
The Governor of the Central Bank of Mauritania issued Instruction No. 03 GR/2020 to partially amend the classification and provisioning rules for credit institutions. The directive mandates that banks remove compromised claims from their balance sheets when written off, recovery prospects are nil, or five years have elapsed since Class D reclassification, while requiring full prior provisioning and Board of Directors authorization. Credit institutions must comply with these off-balance sheet tracking, reporting, and related-party disclosure requirements by December 31, 2020.
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