Regulatory Alerts2011-01-01
Law No. 2011-052 on the Recovery of Debts
The Islamic Republic of Mauritania, through its National Assembly and Senate, enacted Law No. 2011-052 to repeal and replace the 1993 debt recovery framework, establishing a specialized judicial procedure for banks and financial institutions to recover client debts. The legislation mandates automatic application of the effective global interest rate upon default, grants creditors rights to preservative seizure, judicial pledges, and salary domiciliation enforcement, and streamlines court timelines for security realization and auctions. Furthermore, it introduces strict evidentiary standards, caps expert appraisal fees at 1.5 million ouguiyas, and imposes credit bans, fraud prosecutions, and banker complicity penalties to ensure robust debt collection.