Mauritania to create stock exchange

Jan 10, 2014

Mauritania is to create its first stock exchange, said the governor of the Central Bank of Mauritania (BCM) on January 8th, adding that the first phase will be launched in the first quarter of 2014.

Mauritania is to create its first stock exchange, said the governor of the Central Bank of Mauritania (BCM) on January 8th, adding that the first phase will be launched in the first quarter of 2014.

Sid Ahmed Ould Raïss said the development of the Mauritanian financial sector requires the establishment of "a modern capital market in line with international standards and taking into account the economic, social and cultural specificities " of Mauritania , Ecofin news agency reports.

He believes the project will mobilise domestic savings and efficiently allocate them to the best performing economic sectors, adding that "the emergence of a
Stock
Exchange is consistent with the country's economic dynamics over the past years."

The governor also announced that the Mauritanian government has adopted a strategy of financial sector development for the period 2012-2017 "aimed at strengthening the stability and transparency of the sector, accessing finance at a reasonable cost by all stakeholders and developing a culture of savings and credit ".

This announcement comes
after
the BCM released its growth estimates for 2014, showing that the economy of Mauritania is expected to grow by more than six percent for the third consecutive year, Reuters reports.


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