History

Chinguitty Bank was established in 1972 in order to strengthen the economic ties between its two shareholders, Libya and the Islamic Republic of Mauritania, by promoting investment in Mauritania. Despite the difficulties that Mauritania was experiencing, Chinguitty Bank has been and remains an important player in the economic life of this country. This important role was effectively and efficiently demonstrated in the preparation of historical decisions such as the issuance of the national currency and the consolidation of the economic and political independence of the country. It continues today through the provision to economic operators of a wide range of funding increasingly adapted to their requirements and especially the opening of documentary credits and the execution of transfers that are essential to supply the country and thus to make the citizen happy. To date, Chinguitty Bank has overcome all the challenges it has faced and continues to develop confidently and efficiently in accordance with the objectives set for it by its shareholders. In this regard, the bank’s capital has been increased to MRU 600,000,000 (Six billion former Ouguiya), of which 71.42% released by LIBYAN FOREIGN BANK and 28.58% released by the Islamic Republic of Mauritania.

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