On Wednesday, August 14, 2024, at the weekly meeting of the Council of Ministers, the Government of Mauritania examined and adopted a draft law on the legislative framework for covered bonds.

A statement from the Council of Ministers indicates that the bill “aims to support financial stability, by allowing Mauritanian credit institutions to diversify their sources of financing over the short, medium and long terms. With this in mind, it defines the legislative framework to govern the issuance of covered bonds, which are debt instruments issued by certain credit institutions, to ensure their refinancing.” The same source indicates that “these bonds are subject to a specific regime, as they have the characteristic of being backed by assets placed in a hedge basket, assets made up of mortgage products selected according to their qualities and other specific claims