Question 1

What is Banque Populaire de Mauritanie (BPM)?

Accepted Answer

Banque Populaire de Mauritanie (BPM) is an Islamic universal bank based in Mauritania, operating in compliance with Sharia principles. The bank has grown to become the country's second-largest commercial bank and first digital bank, offering individuals, professionals, and enterprises an innovative range of products and services in deposit-taking, financing, and participatory investments.

BPM evolved from Mauritanie Leasing, transforming from a specialized leasing company into a full-service universal bank in 2012. The institution has built a dense network of branches covering most major cities in Mauritania, with nearly twenty branches in the capital city of Nouakchott alone.

Question 2

When was Banque Populaire de Mauritanie (BPM) founded?

Accepted Answer

BPM's origins trace back to 1998 when Mauritanie Leasing was established, with the OPEC Fund becoming a founding shareholder in 2000. The company was created to establish a leasing market in Mauritania at a time when the financial instrument was not yet in use in the country.

For over twenty years, it operated as the only leasing company in Mauritania, achieving a market share of more than 23% of all medium and long-term financial assistance. In 2012, the company received regulatory approval to expand from simple leasing activities to become a universal bank, marking the official establishment of Banque Populaire de Mauritanie.

The bank was founded by Limam Ould Ebnou, who continues to serve as President of BPM.

Question 3

Where is Banque Populaire de Mauritanie (BPM) headquartered?

Accepted Answer

BPM is headquartered in Nouakchott, the capital city of Mauritania. The head office is located on Avenue Charles de Gaulle in Nouakchott.

The bank also maintains business centers in Nouadhibou, Mauritania's second-largest city and economic hub, specifically dedicated to serving corporate clients and large institutions.

Question 4

Where does Banque Populaire de Mauritanie (BPM) operate?

Accepted Answer

BPM operates throughout Mauritania, with a network covering most of the country's major cities and wilayas (administrative regions). The bank has built a particularly strong presence in Nouakchott, where it maintains nearly twenty branches.

Through its digital banking platform Bankily, BPM extends its reach to all Mauritanian residents regardless of their geographic location. The bank has established a nationwide network of Bankily agents and merchant acceptance points across urban and rural areas to facilitate financial inclusion.

The institution's operational footprint spans all major economic sectors across Mauritania's regions.

Question 5

What services does Banque Populaire de Mauritanie (BPM) offer?

Accepted Answer

BPM offers a comprehensive range of Sharia-compliant banking services including:

Retail Banking: Personal accounts, deposit accounts, Islamic financing products, prepaid international MasterCard cards, and payment services accessible through digital channels.

Commercial and SME Banking: Investment financing, leasing services, working capital solutions, and trade finance products. The bank specializes in supporting small and medium-sized enterprises across commerce, agriculture, fishing, industry, and services sectors.

Corporate Banking: Dedicated business centers in Nouakchott and Nouadhibou provide tailored services for enterprises and large institutions, including project financing and institutional banking solutions.

Digital Banking Services: Bankily, Mauritania's first mobile banking platform, launched in January 2020. The service allows customers to open and manage bank accounts via mobile phones (smartphones or feature phones), using either a mobile app or USSD code (*888#). Bankily features include remote account opening, money transfers, merchant payments via NFC and QR codes, bill payments (electricity, water, internet), mobile credit recharge, and "El Lewha" (mobile tontine/savings groups).

International Services: Money transfer partnerships including Remitly, and international payment capabilities through the SWIFT network (code: BPMAMRMRXXX).

Question 6

What makes Banque Populaire de Mauritanie (BPM) unique?

Accepted Answer

BPM distinguishes itself as Mauritania's first digital bank and pioneering mobile banking provider. The Bankily platform represents a groundbreaking achievement in Mauritanian banking, offering free account opening and management services to promote financial inclusion in a country where only 30% of adults have banking access.

The bank's transformation from a specialized leasing company to a universal bank gives it unique expertise in equipment financing and leasing. During its two decades as Mauritanie Leasing, it supported over 600 SMEs and maintained the only leasing activity in the country.

BPM has demonstrated remarkable social and economic impact, with financing operations creating more than 25,000 permanent jobs through 420 beneficiary businesses, over half of which are new enterprises in Mauritania. The bank consistently captures between 15-25% of the SME investment financing market.

The institution's partnership with international development organizations, particularly the OPEC Fund for International Development, has enabled multiple credit lines totaling millions of dollars for on-lending to SMEs. BPM successfully implemented the Azentio iMAL core banking system, positioning itself as a technology-forward institution.

Question 7

What type of financial institution is Banque Populaire de Mauritanie (BPM)?

Accepted Answer

BPM is a universal Islamic bank (banque universelle islamique) operating under the regulatory framework of the Central Bank of Mauritania. As a universal bank, it provides the full spectrum of banking services including commercial banking, retail banking, SME financing, corporate banking, and investment services.

The institution operates exclusively under Islamic banking principles in compliance with Sharia law, offering participatory financing and investment products rather than conventional interest-based products. This positioning aligns with the religious and cultural preferences of Mauritania's predominantly Muslim population.

BPM holds all necessary regulatory approvals from Mauritanian banking authorities to operate as a full-service banking institution, having successfully transitioned from its original limited leasing license to comprehensive universal banking authorization in 2012.

Question 8

What is Banque Populaire de Mauritanie's role in financial inclusion?

Accepted Answer

BPM has positioned itself as a champion of financial inclusion in Mauritania, directly addressing the country's low banking penetration rate of approximately 30%. The bank's vision explicitly focuses on promoting accessible banking services and financial inclusion throughout Mauritania.

Through the Bankily mobile banking platform, BPM has removed traditional barriers to banking access including cost, documentation complexity, and geographic limitations. The platform allows any Mauritanian resident with a mobile phone to open a free bank account using only their national identification number and phone number.

Within just a few months of launch, Bankily onboarded over 100,000 customers, and the app has since accumulated over 1 million downloads. The extensive agent network provides cash-in and cash-out services in areas without traditional bank branches, while the merchant acceptance network enables digital payments at thousands of businesses across the country.

This mobile banking initiative supports the Central Bank of Mauritania's broader objectives for payment system modernization and demonetization of the economy.

Question 9

How does Banque Populaire de Mauritanie support SME development?

Accepted Answer

BPM has established itself as a reference institution for SME financing in Mauritania, focusing on small and medium-sized enterprises that represent approximately 70,000 businesses responsible for 30% of GDP and 90% of employment in the country.

The bank provides comprehensive SME support including investment project financing, operational financing, equipment leasing, and capacity-building programs for business management. BPM's financing activities span diverse sectors including industry, services, building and public works, agriculture, fishing, health, tourism, transport, and commerce.

Through multiple credit lines from international development partners, BPM has financed hundreds of businesses across Mauritania. The bank's SME financing operations have demonstrated measurable impact with over 25,000 permanent jobs created and significant contribution to the development of Mauritania's SME market.

BPM maintains specialized business centers and dedicated relationship managers to provide tailored support and flexible financing solutions that match the operational and investment needs of growing enterprises.

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