The minimum capital of Mauritanian banks will be raised by 57% by 2020 according to a correspondence from the governor of the Mauritanian Central Bank (BCM) to the association of Mauritanian banks.
Specifically, the minimum capital will increase from 7 billion Ouguiyas in 2018 to 11 billion dollars in 2020, or 30 million dollars. The main objective of the decision is to strengthen the soundness of the Mauritanian banking system, which has some 20 institutions.
On the other hand, no change will be made to the mandatory reserve ratio and the key rate applied by the Central Bank. Recall that the Mauritanian monetary authorities had already raised the capital of banks to 7 billion ouguiyas in 2013.