For Mauritania, when an exporter has concluded a commercial export contract with a Mauritanian importer and the two parties do not know each other, the irrevocable and confirmed letter of credit is the most appropriate instrument to mitigate the risks.
The Mauritanian importer will ask the Mauritanian bank to issue a letter of credit for the benefit of the exporter who will have previously named the name of the notifying and confirming bank to be accepted by the exporter.
For Mauritania, the exporter must choose a confirming bank that has in its network of correspondents the Mauritanian bank that is proposed by the importer but also the one that has an acceptable credit rating so that there is no default of payment from the confirming bank.
A letter of credit issued in Mauritania is usually confirmed by a big number of banks which are prepared to take the risks of Mauritanian banks and make sure the beneficiary of the LC or exporter obtain his payment.
LIST OF MAURITANIAN BANKS ISSUING LETTERS OF CREDIT AND WHICH ARE ACCEPTED BY THE BANKS OF EXPORTERS
Banque pour le Commerce et l'Investissement en Mauritanie (BACIM)
Banque Al Wava Mauritanienne Islamique (BAMIS)
Banque pour le Commerce et l'Investissement (BCI)
Banque Mauritanienne pour le Commerce International (BMCI)
Banque Nationale de Mauritanie (BNM)
Banque El Amana (BEA)
CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH MAURITANIAN BANKS
Banks which are confirm the letters of credit issued in Mauritania by Mauritanian banks are: (please contact us to obtain the list or to be listed as confirming bank).
MAURITANIA: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A MAURITANIAN BANK
Confirmation charges and fees for letters of credit issued through Mauritanian banks can be obtained on demand by emailing: firstname.lastname@example.org.
TRADEFINANCE.AFRICA COUNTRIES OF EXPERTISE