Mauritania – Every insurer to deposit 300 million Ouguiyas
Friday, 07 07 2017, Category: Insurance and Reinsurance, Country: Africa
The Mauritanian council of ministers approved on Thursday 6 July 2017 in the capital Nouakchott a law stipulating that every company operating in the insurance sector has to deposit a guarantee of 300 million Ouguiyas at the general treasury in order to be authorized by the government.
This law aims at implementing the article 216 of the law issued on 9 April 2007, which amends the law issued on 20 July 1993 that regulates the insurance sector.
Therefore, from now on all insurers have to deposit at least 300 million Ouguiyas in an account at the general treasury as a guarantee.
Source: Echououq Media