LSEG Selected by Banque Centrale de Mauritanie for Financial Modernization Project

LSEG Selected by Banque Centrale de Mauritanie for Financial Modernization Project

(IN BRIEF) London Stock Exchange Group (LSEG) has been chosen as a strategic partner by the Banque Centrale de Mauritanie (BCM) for its Financial Infrastructure Modernization Programme, funded by the African Development Bank. This initiative aims to modernize Mauritania’s financial sector by upgrading primary and secondary trading workflows and infrastructure. It includes improvements in auctions, interbank trading, price discovery, and market surveillance, while also providing enhanced reporting capabilities to the central bank. The collaboration is seen as a significant step in enhancing Mauritania’s financial market and its integration into the global financial system, with the potential to drive efficiency, reduce risks, and improve transparency.

(PRESS RELEASE) LONDON, 14-Dec-2023 — /EuropaWire/ — London Stock Exchange Group plc (LSEG) announces that it has been selected by the Banque Centrale de Mauritanie (BCM) to play a pivotal role in its Financial Infrastructure Modernization Programme, funded by the African Development Bank.

This ambitious project aims to revolutionize Mauritania’s financial landscape by modernizing its primary and secondary trading workflow and infrastructure. The transformation will encompass various aspects, including auctions, interbank trading, price discovery, and market surveillance. Furthermore, it will introduce robust reporting capabilities for the central bank.

Mr. Mohamed Lemine DHEHBY, Governor of the Banque Centrale de Mauritanie (BCM), expressed, “Our partnership with LSEG marks a significant step in the ongoing enhancement of Mauritania’s financial market. The Financial Infrastructure Modernization Program will bolster the market’s capabilities and facilitate its seamless integration into the global financial system.”

Nadim Najjar, Managing Director, Central and Eastern Europe, Middle East, and Africa at LSEG, commented on the collaboration, saying, “We are delighted to have been chosen by the Banque Centrale de Mauritanie to support them in this important journey. The implementation of advanced technology and streamlined processes is expected to drive efficiency, reduce risks, and enhance transparency. This will ultimately benefit the entire financial community and enable Mauritania to be more competitive on the international stage.”

SOURCE: LSEG