Instruction No. 3 (GR/2008) on Partial Modification of Bank Conditions

ISLAMIC REPUBLIC OF MAURITANIA
CENTRAL BANK OF MAURITANIA
Honor-Fraternity-Justice

THE GOVERNOR
Nouakchott, 11 February 2008

VISA: [Cleaned]
1

• II
  t.
  I

The Governor:

INSTRUCTION NO. 3 IG/RJ 2008
ON PARTIAL MODIFICATION OF BANK CONDITIONS

t

Having regard to Law No. 73 of 30 May 1973 establishing the Central Bank of Mauritania; Having regard to Ordinance No. 004/2007 of 12 January 2007, establishing the statute of the Central Bank of Mauritania; Having regard to Ordinance No. 020/2007 of 13 March 2007 concerning Credit Institutions, repealing and replacing Law No. 95-011 of 17 July 1995; Having regard to Decree No. 19/2007 of 7 February 2007, appointing the Governor of the Central Bank of Mauritania; Having regard to the resolution of the Monetary Policy Council dated 30 January 2008; Decides:

Article 1: The interest rate paid on Treasury bills and Central Bank bonds is set at 12% per annum.
Article 2: The maximum banking margin (MBM), as defined by Instruction No. 01/GRJ/2008 of 7 February 2008, is set at an annual rate of eight percent (8%).
Article 3: The minimum interest rate payable on savings accounts is set at 8% per annum.
Article 4: The remuneration of other forms of deposits from resident customers remains free.
Article 5: This Instruction enters into force upon signature. It repeals and replaces all prior provisions that are contrary or duplicate existing ones.