BCM

The Central Bank Of Mauritania (Banque Centrale De Mauritanie, Or BCM For Short) Is The National Central Bank Of Mauritania. It Is Responsible For Formulating And Implementing The Country's Monetary Policy, Supervising The Financial System, And Managing The Country's Foreign Exchange Reserves. The Central Bank Of Mauritania Plays A Central Role In Maintaining Monetary Stability, Promoting Financial Development, And Ensuring The Security Of The Payment System.

Here Are Some Of The Main Responsibilities And Characteristics Of The Central Bank Of Mauritania:

1. Monetary Policy Formulation: The Central Bank Of Mauritania Is Responsible For Formulating And Implementing Monetary Policy In Order To Maintain Price Stability, Promote Economic Growth And Employment. It Controls The Money Supply And Credit Conditions By Adjusting Instruments Such As Interest Rates, Reserve Requirements, And Open Market Operations.
2. Financial Regulation: The Central Bank Supervises Mauritania's Financial Institution Groups, Ensuring Their Sound Operation And Compliance With Relevant Laws And Regulations. This Includes Banks, Insurance Companies, Securities Companies And Payment System Operators, Among Others.
3. Foreign Exchange Management: The Central Bank Of Mauritania Manages The Country's Foreign Exchange Reserves And Is Responsible For The Regulation Of The Foreign Exchange Market, As Well As The Implementation Of Foreign Exchange Controls. It Is Also Responsible For The Issuance And Circulation Of The National Currency, The Mauritanian Dirham (MRO).
4. Payment And Settlement Systems: The Central Bank Is Responsible For Maintaining And Supervising Payment Systems, Ensuring Smooth And Secure Financial Transactions. This Includes Handling Electronic Payments, Cheque Clearing And Interbank Transfers, Among Others.
5. Financial Stability: The Central Bank Of Mauritania Monitors The Stability Of The Financial System And Takes Necessary Measures To Prevent Financial Crises. It Is Also Involved In The Coordination Of Macroeconomic Policies To Support The Long-term Sustainable Development Of The Economy.
6. International Cooperation: The Central Bank Of Mauritania, In Cooperation With The Central Banks Of Other Countries And The International Financial Institutions Group, Participates In International Financial Affairs And Promotes The Facilitation Of Global Payments And Financial Transactions.
7. Research And Analysis: The Central Bank Conducts Research And Analysis Of Economic And Financial Marekts To Provide A Basis For Policy Formulation. It Publishes Economic Reports And Statistics That Provide Transparency On The State Of The Mauritanian Economy.

In Carrying Out Its Duties, The Central Bank Of Mauritania Is Committed To Promoting A Stable, Sound And Developing Financial System That Supports The Growth And Prosperity Of The Mauritanian Economy. Through Effective Policy Formulation And Supervision, The Central Bank Plays A Key Role In Maintaining The Country's Financial Stability And Promoting Sustainable Development.

In Carrying Out Its Duties, The Central Bank Of Mauritania (BCM) Is Also Committed To The Following Areas:

1. Anti-Money Laundering And Counter-Terrorism Financing: In View Of The Global Attention On Combating Money Laundering And Terrorist Financing Activities, The Central Bank Of Mauritania Also Assumes Responsibility For The Supervision And Enforcement Of Relevant Laws And Regulatory Measures. This Includes The Establishment And Maintenance Of An Effective Regulatory Framework To Ensure That Financial Institution Groups Comply With International Standards For Anti-money Laundering And Counter-terrorism Financing.
2. Financial Inclusion: The Central Bank Also Focuses On Improving Financial Inclusion, I.e. Ensuring That All Economic Classes, Especially Those Living In Poor And Remote Areas, Have Access To Financial Services. To This End, The Central Bank Of Mauritania Promotes The Development Of Non-bank Financial Institution Groups, Such As Microfinance Institutions And Insurance Companies, As Well As Encourages The Financial Institution Groups To Offer More Financial Products And Services Suitable For The General Population.
3. Talent Development And Technological Renewal: In Order To Maintain Its Professional Competence And Competitiveness, The Central Bank Of Mauritania Attaches Importance To The Training And Professional Development Of Its Employees. At The Same Time, The Central Bank Is Also Committed To Introducing And Updating Fintech In Order To Improve Work Efficiency And Provide Higher Quality Financial Services.
4. Legal And Regulatory Framework: The Central Bank Of Mauritania Is Responsible For Formulating, Updating And Enforcing The Financial Legal And Regulatory Framework. This Includes Ensuring That Legal And Regulatory Measures Are In Line With International Standards, Taking Into Account Mauritania's National Conditions And Economic Development Needs.
5. International Cooperation And Exchange: The Central Bank Of Mauritania Actively Participates In International Organizations And Forums, Such As The West African Monetary Union (UEMOA), The International Monetary Fund (IMF) And The World Bank, Among Others, To Promote International Cooperation And Exchange Of Experience And Enhance Its Position And Influence In The International Financial Arena.

Through The Above Responsibilities And Efforts, The Central Bank Of Mauritania Plays An Important Role In Maintaining The Country's Financial Stability, Promoting Economic Development And Improving People's Livelihood. With The Continuous Development Of The Mauritanian Economy And Opening To The Outside World, The Central Bank Will Continue To Face New Challenges And Opportunities, And Its Position And Role Will Become Increasingly Important.

In Addition To This, The Central Bank Of Mauritania (BCM) Continues To Play Its Role In The Following Areas:

1. Economic Development Strategy: The Central Bank Of Mauritania Actively Participates In The Formulation Of The National Economic Development Strategy, With Policy Partnerships, Supporting The Country's Development Plans Through Monetary Policy. This Includes Promoting Investment, Creating Jobs And Reducing Poverty.
2. Financial Innovation: In Response To The Challenges Of Economic And Social Development, The Central Bank Of Mauritania Encourages Financial Innovation, Such As The Development Of Mobile Money And Other Digital Financial Services, To Improve Financial Inclusion And Convenience.
3. Risk Management: The Central Bank Supervises And Regulates The Risk Management Practices Of Financial Institution Groups, Ensuring That They Can Effectively Identify, Assess, Monitor And Control Various Financial Risks, Such As Credit Risk, Market Risk, Operational Risk, Etc.
4. Statistics And Disclosure Of Information: The Central Bank Of Mauritania Is Responsible For Collecting, Analyzing And Publishing Financial And Economic Data To Support Policy Formulation, Regulatory Oversight And Public Information. These Statistics Include Inflation Rates, Exchange Rates, Credit Growth And Foreign Exchange Reserves, Among Others.
5. Legal And Compliance: The Central Bank Ensures That Financial Institution Groups Comply With Relevant Laws And Regulations, Including Anti-money Laundering And Counter-terrorism Financing Regulations. It Is Also Responsible For Dealing With Compliance Issues And Taking Regulatory Measures Against Financial Institution Groups That Violate Regulations.
6. Research And Analysis: The Central Bank Of Mauritania Continues To Conduct Research Analysis Of Economic And Financial Marekts In Order To Anticipate And Respond To Risks That May Affect Economic Stability. These Studies Help The Central Bank To Develop More Effective Policies And Regulatory Measures.
7. Talent Cultivation: In Order To Maintain Professional Competence And Competitiveness, The Central Bank Of Mauritania Attaches Importance To The Training And Development Of Its Employees, Upgrading Their Professional Knowledge And Skills Through Internal Training, External Seminars And Academic Courses, Among Other Means.
8. Technological Modernization: The Central Bank Continuously Strives To Improve Its IT Infrastructure To Support Its Daily Operations And Regulatory Tasks. This Includes Upgrading Databases, Analytical Tools And Communication Systems In Order To Improve Work Efficiency And Data Security.

In Carrying Out Its Duties, The Central Bank Of Mauritania Always Aims To Maintain Monetary Stability, Promote Financial Development And Ensure The Security Of The Payment System, While Adapting To Changes In The Domestic And Foreign Economic Environment In Order To Support The Long-term Sustainable Development Of The Mauritanian Economy. As Fintech Continues To Advance And The International Financial Environment Evolves, The Central Bank Of Mauritania Will Continue To Face New Challenges And Opportunities.