Regulatory Alerts2025-01-07
Instruction No. 01/GR/2025 on the Establishment of Islamic Money Market Instruments
The Governor of the Central Bank of Mauritania issued Instruction No. 01/GR/2025 to establish three new Sharia-compliant money market instruments: the Islamic Deposit Facility (FDIS), Islamic Lending Facility (FPIS), and Interbank Islamic Lending Operation (PISI). The directive mandates that authorized Mauritanian banks utilize these 24-hour tenor instruments, which are structured around Murabaha contracts involving the purchase and resale of tangible assets, to manage liquidity through the central bank or interbank markets. It further authorizes the central bank to act as an agent for settlement via specialized Sharia-compliant platforms and stipulates that any costs arising from international asset transactions will be borne by participating banks.