Borrowing from family or friends in Mauritania: IOUs, qard hassan and caution
In Mauritania, lending between individuals is still mostly family or community based, often interest-free in the qard hassan tradition. It is best formalised with a written acknowledgement of debt, ideally notarised, since no crowdlending platform is licensed by the BCM.
Extended family and tribe as the first lenders
From Nouakchott to the villages of Brakna, the extended family and the tribe remain the first source of loans. People borrow from a trader uncle for a wedding, a dowry, rent or a stock of goods, often without any written document.
Qard hassan, the benevolent interest-free loan
In the Muslim tradition widely followed in Mauritania, qard hassan is a free loan repaid at the amount borrowed. Demanding anything extra is seen as riba, so many private lenders refuse any form of payment for lending money to relatives.
Why put the debt in writing
A dated document stating the names and NNI of both parties, the amount in ouguiyas and the due date prevents misunderstandings. Signed before two witnesses or certified, it serves as proof if repayment is late or when an estate is settled.
Going before a Mauritanian notary
For a large sum, a notarial deed in Nouakchott or Nouadhibou strengthens the proof and can include collateral, for example an item handed over as a pledge. The fees remain modest compared with the risk of a family dispute dragging on.
Rotating savings groups among women
Rotating savings groups, very common among women traders in the markets, let members receive the pot in turn. This mechanism, close to Twize solidarity, is an alternative to the microloans available in Mauritania from licensed institutions.
Diaspora transfers and lending from abroad
Mauritanians living in Europe or the Gulf frequently lend to relatives by money transfer. Keep the transfer or mobile wallet receipts and a written message stating that the money is a loan and not a gift to the recipient.
Paying through Bankily and proving the transfer
Lending or repaying through Bankily or Masrvi leaves a dated record, useful in case of dispute. Add a clear payment reference and keep a screenshot of the transaction rather than handing over large sums in cash.
No BCM-licensed crowdlending platform
As far as we know, Mauritania has no peer-to-peer lending platform authorised by the BCM. Any website or app presenting itself as one without verifiable approval should be treated with great suspicion before you send money or documents.
Fake online lender scams
Scams promising a person-to-person loan in exchange for insurance or processing fees circulate on Facebook in Arabic and French. Jobseekers are prime targets, as noted in our page on borrowing without a job in Mauritania.
Disputes, mediation and going to court
When a loan is not repaid, mediation by the family or a respected local figure is usually tried first. Failing that, the creditor can go to court, and a written acknowledgement of debt makes the procedure before the competent tribunal much easier.
Comparing with the situation in Mali
In Mali too, informal family lending dominates, but within a different monetary framework. Malian practice is described in our page on peer-to-peer loans in Mali, useful for families living on both sides of the border.
Lending to a trader or becoming a partner
Rather than a loan, some prefer a profit-sharing partnership, similar to mudaraba, to finance a shop. The contract must then specify each party's share, the duration and how any losses will be shared between them.
Formalising a loan between relatives in Mauritania
- Agree together on the amount in ouguiyas, the repayment date and any interim instalments.
- Draft an acknowledgement of debt with the names and NNI of both parties and the signatures of two witnesses.
- Have the signatures certified, or go to a notary when the sum is large.
- Pay the money by bank transfer, Bankily or Masrvi to keep dated proof of the transaction.
- Record each repayment received and give the borrower a signed receipt until the debt is fully settled.
Possible costs of a private loan
| Item | When it applies | What makes it vary |
|---|---|---|
| Interest | Often none, by tradition | Agreement between the parties |
| Certification of signatures | Private acknowledgement of debt | Municipality or administration |
| Notary fees | Authenticated deed | Amount lent, collateral included |
| Mobile transfer fees | Payment via Bankily or Masrvi | Amount sent, operator |
Useful items to secure a private loan
- ID cards with NNI of lender and borrower
- Dated and signed acknowledgement of debt
- Signatures of two adult witnesses
- Transfer receipts or Bankily and Masrvi screenshots
- Notarial deed for large amounts
Mistakes to avoid in a private loan
- Lending a large sum in cash with nothing in writing, which makes proof almost impossible after a death or a family disagreement.
- Sending processing fees to a so-called private lender met on Facebook, who disappears as soon as the mobile payment arrives.
- Planning an extra repayment amount without discussing it openly, which can cause a religious and family conflict when payment is due.
- Lending money meant for your own household's rent or school fees, counting on an uncertain repayment.
- Accepting an item as a pledge without checking that it really belongs to the borrower, especially a vehicle or a plot of land.
Lenders to contact
- Banque pour le Commerce et l'Industrie (BCI Mauritanie): Mauritanian commercial bank providing banking services and financing to individuals, professionals and companies operating within the country.
Questions about lending between individuals in Mauritania
Should a loan between individuals carry interest?
No. In Mauritania, many family loans are made without interest, following the principle of qard hassan. The parties are free to agree on terms, but a required extra payment may be seen as contrary to religious rules.
Is a handwritten IOU valid proof in Mauritania?
Yes, it is written evidence, and stronger if it is dated, signed by both parties and by witnesses, or if the signatures are certified. For a large amount, a notarial deed offers greater security for the lender.
Are there Mauritanian crowdlending websites?
We have not identified any platform licensed by the Central Bank of Mauritania for this activity. Any such online offer should be checked with the BCM before you transfer money or send documents to anyone.
How do you prove a loan sent from abroad?
Keep the transfer service receipt, the bank statement or the mobile wallet screenshot, together with a written message from the borrower acknowledging the debt. Taken together, these items serve as proof if a dispute arises.