Central Bank of Mauritania

The Central Bank of Mauritania, known in French as Banque Centrale de Mauritanie and commonly abbreviated BCM, is the monetary authority and central bank of Mauritania. It is headquartered in Nouakchott, the national capital, and operates within the country's public financial system. Its institutional responsibilities include issuing and managing the Mauritanian currency, supporting monetary stability, contributing to the soundness of the banking and financial system, and carrying out other central-bank functions assigned by Mauritanian law. The bank emerged during Mauritania's post-independence effort to establish a monetary system under national control. President Moktar Ould Daddah created the institution through legislative acts adopted in 1973, 1974, and 1975. Its formation followed Mauritania's withdrawal from the French-dominated Communauté Financière Africaine monetary consortium. The establishment of a domestic central bank gave the country an institutional framework for managing its own currency and monetary affairs rather than relying on the former colonial monetary arrangement. The BCM is closely associated with the Mauritanian ouguiya, the country's national currency. Currency issuance and management are among its most visible public functions, while its broader role covers monetary policy, foreign-exchange and reserve-related responsibilities, banking oversight, and the maintenance of confidence in the financial system. As with other national central banks, it serves as a key public institution at the intersection of government finance, commercial banking, payments, and macroeconomic policy. The bank's work affects households, businesses, banks, importers, exporters, and public authorities operating in Mauritania. Leadership of the institution has changed repeatedly since its creation. Its governors have included Ahmed Ould Daddah, Sid'Ahmed Ould Bneijara, Dieng Boubou Farba, Ahmed Ould Zein, Mohamed Ould Nany, Moustapha Ould Abeiderrahmane, Mohamedou Ould Michel, Mahfoudh Ould Mohamed Aly, Sid El Moctar Ould Nagi, Yahya Ould Athighe, Ba Seydou Moussa, Ahmed Salem Ould Tebakh, Zein Ould Zeidane, Kane Ousmane, Sidatty Benhameyda, Sid'Ahmed Ould Raiss, Abdel Aziz Ould Dahi, Cheikh El Kebir Moulay Taher, and Mohamed Lemine Ould Dhehby. Mohamed Lemine Ould Dhehby became governor in March 2022 and is identified in the available reference material as the current governor. The Central Bank of Mauritania is not a consumer-facing commercial bank or a private financial-services brand. Its institutional identity is instead defined by public authority, monetary administration, currency management, and financial-sector supervision. Its principal market is Mauritania, although its policies and currency operations interact with regional trade and financial relationships. Public information about the institution is available in Arabic, English, and French.

The Central Bank of Mauritania was established during the country's effort to build an independent national monetary system. Legislative acts adopted in 1973, 1974, and 1975 created the institution. Its formation was associated with President Moktar Ould Daddah and followed Mauritania's withdrawal from the French-dominated Communauté Financière Africaine monetary consortium. The new bank provided a domestic institutional base for currency issuance, monetary administration, and the management of national financial affairs. The creation of the bank represented an important step in Mauritania's post-independence state-building. Rather than depending on a regional monetary arrangement shaped by France and its former colonies, Mauritania established a central institution responsible for the country's own currency and monetary policy. The bank's headquarters were placed in Nouakchott, close to the center of national government. Since its creation, the BCM has been associated with the Mauritanian ouguiya and with the core functions normally performed by a central bank. These include issuing and managing legal tender, formulating or implementing monetary policy, supporting monetary and financial stability, and supervising or regulating relevant parts of the banking system. It also serves as an important institution for the country's banking, payments, reserve, and public-finance infrastructure. The bank's work is principally domestic, although Mauritania's trade and financial links give its monetary decisions regional significance. The institution has experienced a long succession of governors. Ahmed Ould Daddah served from June 1973 to May 1978, followed briefly by Sid'Ahmed Ould Bneijara. Dieng Boubou Farba then served from July 1978 to April 1981 and again from July 1983 to September 1987. Ahmed Ould Zein held the position during two periods, from April 1981 to July 1983 and from April 1988 to June 1992. Later governors included Moustapha Ould Abeiderrahmane, Mohamedou Ould Michel, Mahfoudh Ould Mohamed Aly, Sid El Moctar Ould Nagi, Yahya Ould Athighe, Ba Seydou Moussa, Ahmed Salem Ould Tebakh, Zein Ould Zeidane, Kane Ousmane, Sidatty Benhameyda, Sid'Ahmed Ould Raiss, Abdel Aziz Ould Dahi, and Cheikh El Kebir Moulay Taher. Mohamed Lemine Ould Dhehby became governor in March 2022 and is identified by the available reference material as the current head of the bank. The BCM continues to function as Mauritania's national monetary authority, with its public role centered on currency administration, monetary policy, and the stability and oversight of the country's financial system.

• 2022

  New governor appointed

  [1]Central Bank of Mauritaniaen.wikipedia.org

  Mohamed Lemine Ould Dhehby became governor in March 2022.

• 1975

  Establishment completed through legislation

  [1]Central Bank of Mauritaniaen.wikipedia.org

  The final year in the sequence of founding acts completed the legal establishment of the central bank.

• 1974

  Institutional formation continued

  [1]Central Bank of Mauritaniaen.wikipedia.org

  A further legislative act advanced the formation of the Central Bank of Mauritania during the country's transition away from the former regional monetary arrangement.

• 1973

  Central bank established by legislation

  [1]Central Bank of Mauritaniaen.wikipedia.org

  Mauritania began creating its central bank through legislative acts, establishing the institutional foundation for an independent national monetary authority.

Mauritania's national monetary authority and central bank

• National currency

  Mauritanian ouguiya

  The Mauritanian ouguiya is the national currency associated with the Central Bank of Mauritania. Currency issuance and management are among the bank's most visible responsibilities, linking the institution directly to domestic payments, commerce, savings, and public confidence in the monetary system.

• Central-bank policy service

  Monetary policy

  The bank's monetary-policy function covers the management of monetary conditions in support of monetary and financial stability. It provides the policy framework through which the national monetary authority influences liquidity, currency conditions, and confidence in Mauritania's financial system.

• Banking supervision

  Financial supervision

  The Central Bank of Mauritania contributes to oversight of the country's banking and financial sector. This institutional function supports the soundness of regulated financial institutions and helps maintain an orderly domestic financial system.

• 1973

  Create a national central bank outside the former monetary consortiumStrategy

  Background

  Mauritania was seeking greater control over its monetary institutions after withdrawing from the French-dominated Communauté Financière Africaine monetary consortium.

  Action taken

  The government initiated the establishment of the Central Bank of Mauritania through legislative acts adopted between 1973 and 1975.

  Aftermath

  The decision created the institutional basis for national currency administration and domestic monetary policy.

  Source

• 2022

  Mohamed Lemine Ould Dhehby becomes governor[1]Central Bank of Mauritaniaen.wikipedia.org

  Leadership change

  Mohamed Lemine Ould Dhehby began serving as governor of the Central Bank of Mauritania in March 2022, succeeding Cheikh El Kebir Moulay Taher.

1. 1Central Bank of Mauritaniaen.wikipedia.org