Madar (Nouakchott) - Economic Affairs and Development Minister Mohamedou Ahmedou M'Haimid on Wednesday, 11 November 2026 oversaw a ceremony in Nouakchott launching the activities of the Kuwaiti Mauritanian Bank, the Mauritanian News Agency (AMI) reported.
In a speech, the minister said the launch reflects the vitality of the national banking sector and growing confidence in the Mauritanian economy, and praised the level of cooperation between Mauritania and Kuwait.
He described the bank as a bridge to attract investment from Kuwait and other brotherly and friendly countries, strengthening economic partnership and opening new prospects for cooperation, the agency said.
The head of the National Union of Mauritanian Employers, Mohamed Zeine El Abidine Cheikh Ahmed, said the step reflects confidence in the national economy, adding that the private sector needs strong, modern financial institutions to fund productive projects.
The bank's main shareholder, Mohammed Nasser Mohammed Al-Sayer, spoke of the ambition for a stronger partnership between the two countries and a commitment to supporting entrepreneurs and small and medium-sized investments.
The bank's director general said the bank has entered a new phase in its history built on strategic priorities to strengthen its position in the Mauritanian banking market, and announced that professionals from major banking groups have joined its leadership team.
The ceremony was attended by the deputy governor of the Central Bank of Mauritania, the governor of Nouakchott West, the prefect and the mayor of Tevragh Zeina, heads of financial institutions and members of the diplomatic corps, according to AMI.
