FATF status

Mauritania is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The latest follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Mauritania was undertaken in 2021. According to that Evaluation, Mauritania was deemed Compliant for 14 and Largely Compliant for 21 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Mauritania's primary anti-corruption framework is established by the 2016 Law on Anti-Corruption, which aligns with the United Nations Convention Against Corruption and includes specialized bodies for investigating and prosecuting corruption. Despite this legal framework, enforcement remains weak, leading to significant issues such as graft and embezzlement, reflected in the country's low ranking on Transparency International's Corruption Perceptions Index. Recent audits have revealed management lapses within government ministries, prompting investigations and the dismissal of implicated officials, while the current administration under President Ghazouani has made fighting corruption a key priority.

Mauritania's economy is showing signs of resilience, with a GDP growth of 4.1 percent in 2023, up from a previous estimate of 3.4 percent, although this is a slowdown from 6.4 percent in 2022. The government actively encourages foreign direct investment in key sectors such as mining, hydrocarbons, and agriculture, and has established various agreements with international partners to enhance its economic landscape. Despite challenges in regulatory transparency and legal processes, Mauritania's strategic initiatives and resource wealth present a solid foundation for future economic growth.

Mauritania is actively positioning itself as a favorable investment destination by welcoming foreign direct investment (FDI) across key sectors such as mining, hydrocarbons, agriculture, renewable energy, and fishing. The government has established a comprehensive investment code that provides various guarantees to both foreign and local investors, while also creating the Agency for the Promotion of Investment in Mauritania (APIM) to streamline the investment process. Despite facing challenges related to regulatory transparency and legal efficiency, Mauritania's commitment to enhancing infrastructure and collaborating with international organizations signals a positive trajectory for its investment climate.