About us

Presentation of BMS SA:

1 Establishment

Bank Al Mouamalat As-Sahiha (BMS) has been licensed as a bank operating according to the precepts of Sharia by decision of the Governor of the Central Bank of Mauritania issued under number 012/2012/Gr dated 15 April 2012.

BMS is incorporated as a share holding public limited company with a paid-up capital of 6 billion ouguiyas. It is registered in the Commercial Register under number 5337/73339 and on the List of Mauritania Banks (LBM) under number 00017; its SWIFT code is: BMSHMRMR.

2 Shareholders

The shareholders of BMS are exclusively Mauritanian businessmen, relatively young, dynamic and successful in their respective businesses and enjoying a good reputation in the financial community. BMS operates according to the principles of Islamic Sharia applied to financial transactions. It is a universal (corporate, private and investment) bank.

3 Mission, Strategy, Philosophy and Objectives:

§  We believe that the application of the precepts of the tolerant Islamic Sharia in financial transactions requires the bank to achieve a high level of professionalism, a high degree of efficiency and a flawless discipline. Based on this belief, we strive to provide our customers with quality financial services, according to the strictest ethical and the most demanding professional standards using the most advanced techniques reached by the financial industry and with the strict compliance with the regulations in force.

§  We believe that our business shall be, by the Grace of ALLAH, a successful partnership between:

o   Our clients, whom represent the fundamental reason why the bank exists, and whom we seek to attract and retain by our commitment to ethics, to the quality of our services and by the best choice of products to suit their needs;

o   Our staff, carefully selected, based on morality, professionalism and expertise, and for which, we spare no effort for the continuous improvement of skills through permanent training and by creating conditions permitting to achieve optimum performance;

o   Shareholders for whom we strive to generate halal profit and to build a solid institution whose value increases steadily with Allah’s help.

 

§  We also aim to contribute effectively to the socio-economic development; through the provision of appropriate financial services; by financing projects with high added value and high profitability that create employment and reduce poverty.

 

§  We intend to fully utilize all the capabilities offered by the new technologies of information and all available means to achieve a high level of rigor, performance, efficiency and professionalism.

 

4. The means to achieve the objectives:

§  Ethics and professionalism:

o   The strict and intelligent application of precepts of Islamic Sharia in the field of financial transactions;

o   The application of State laws and regulations of the Central Bank of Mauritania in force;

o   The application of the best accounting, auditing, internal control, compliance and risk assessment standards and the best practices of sound governance;

o   The acquisition of the best banking solution and the best available technology;

o   Follow the change of laws, regulations, norms and technologies.

 

§  Client treatment:

o   Look constantly after the interest of our clients;

o   Customized welcome,

o   Absolute confidentiality;

o   Constant concern for identifying customer needs to meet them;

o   Respect of commitments;

o   Listen constantly to customers’ comments and views in order to be considered for improving the quality of services;

o   Consideration of problems, issues and circumstances the customers may face in there activities, in order to contribute to the solution;

 

§  Emphasis on Human Resources

o   Continuous training of human resources;

o   Incentives for skill development, effort and achievement of objectives;

o   Justice and equity, giving each employee his rights;

o   Continuous improvement of conditions in order to allow achievement of the best performance;

o   Develop and innovate services continuously.

§  What we want to achieve

o   Making profits and increase profitability;

o   Develop and innovate products;

o   Strengthen technology and working methods;

o   Improve the quality of services to clients;

o   Achieve and maintain the highest level of institutional management and compliance;

o   Achieve and maintain the confidence and satisfaction of all partners of the bank (clients, shareholders and employees).

5.    Governing and support bodies of the Bank

5.1  Shareholders and capital repartition

Shareholders (Ultimate Owners and capital repartition between the mis as follows:

Ahmed Hamdy MOUKNASS                  25%

Lemrabott HEMEYA TANJI                    20%

Mohamed Vall Sid’Ahmed  LAHAH      15%

Chebih  AHMED SALEC BUH                 15%

Mouhidine  AHMED SALEC BUH          15%

Ahmed OULD HEMEYA TANJI               10%

 

5.2  The Board of Directors

The Board of Directors is as follows:

·         Ahmed Hamdy MOUKNASS, President

·         Mohamed Vall Sid’Ahmed LAHAH

·         Chebih Ahmed Salec BUH

·         Mouhidine Ahmed Salec BUH

·         Lemrabott Hemeya TANJI

·         Ahmed Ould Hemeya TANJI

·         Sidi Baba Sid’Ahmed LAHAH

 

5.3 Sharia Board

The Sharia Board is as follows:

·         Cheikh Yedali Ould Cheikh Ahmed

·         Cheikh Ahmedou Ould Tah Ould Hemmeynne

·         Dr. Mohamed Lemine Ould Bah Ould Abdellahi

 

5.4 External Statutory Auditors are:

·         Ahmed Cherif Ould Cheikhna

·         Mohamed Lemine Salem Béchir

 

5.5 Executive Committee

The Executive Committee is formed as follows:

·         Mouhidine Ahmed Salec BUH, Member of the Board, President

·         Mohaned Vall Sid’Ahmed LEHAH, Member of the Board

·         Lemrabott Houmeya TANJI, Member of the Board

 .        Mahfoudh Ahmedou, Administrateur Directeur Général

5.6 Permanent Audit Committee

The permanent Audit Committee is as follows:

·         Sidi Baba Sid’Ahmed LEHAH Member of the Board, President

·         Chebih  AHMED SALEC BUH, Member of the Board

·         Ahmed Ould Hemeya TANJI, Member of the Board

 

            2.6 Credit and Investment Committee:

            The Credit & Investment Committee is composed as follows :

·         Director General, President

·         Commercial Director

·         Le Secretary General

·         Director of Payments Means

·         Deputy Secretary General

·         Deputy Commercial Director

·         Risk Director

·         Financial Director

 

2.7  Principal Officers of the Bank are:  

 .        Mahfoudh Ahmedou, Administrateur Directeur Général

·         Moulaye El Hacen Moulaye ABDELMOUMEN, Conseiller

·         Ahmede Amar, Secrétaire Général

·         Mohamed Mahmoud EL HACEN, Conseiller

·         Moctar Mohameden BABAH Conseiller

·         Ahmedou Ould BAH, Directeur Financier

·         Mohamed SALEM DIDI Conseiller Chargé de l’Audit Charia

·         Diop Amadou  Directeur Audit Controle Interne et conformité  

·          Yacoub Hafed, Directeur Systemes d'Informations

 

IMPORTANT NUMBERS

	2 016	2015	2014	2013
1.1 Profitability (Millions MRO)
Total Income	2 303	1 816	1 395	458
Total expenses Before Income Taxes, Depreciation & Amortization	1 959	1 144	772	445
Gross Banking Operation Results (GBOR)  BITDA	344	672	622	13
Net Operating Results (NOR)	(126)	304	289	(76)
1.2 Balance Sheet (Millions MRO)
Total Assets	27 692	25 128	21 814	12 820
Total Financings & Investments	20 037	16 728	13 088	7 100
Total Customers Deposits	18 764	15 980	12 119	5 210
Total Shareholders Rights	6 391	6 518	6 213	5 924
Equity	6 000	6 000	6 000	6 000
1.3 Profitability Ratios
Net Operating Result / Equity	-2,10%	5,07%	4,82%	-1,27%
NBP / Equity	5,73%	11,20%	10,37%	0,22%
Total Operting Expenses /Total Income	85,06%	63,01%	55,38%	95,58%
1.4 Balance Sheet Ratios
Shareholders Rignts / Total Balance Sheet	23,08%	25,94%	28,48%	46,21%
Liquidity / Total Balance Sheet	14,40%	19,5%	24,0%	31,8%
1.5 Other Data
Number of employees	180	153	118	80
Number of Branches	16	15	7	4
Rate of USD in MRO (1 USD) end of year	359,21	337,20	311,12	296,99