BAMIS: Banque Al wava Mauritanienne ISlamique

What BAMIS: Banque Al wava Mauritanienne ISlamique does

BAMIS (Banque Al Wava Mauritanienne Islamique) is the first Islamic bank in Mauritania, founded on September 21, 1985, and operating as a privately held Sharia-compliant commercial bank headquartered in Nouakchott. The bank serves individual consumers, professionals, SMEs, large enterprises, public sector employees, and merchants through 12 branches and 38+ ATMs across the country, including Nouakchott, Nouadhibou, Atar, Akjoujt, Rosso, and Zouerate. Its product suite is structured around Islamic finance contracts (Murabaha and Murabaha Revolving for trade and consumer financing, Ijara leasing for equipment, and dedicated ETTEMWILE, ETTEJHIZZE, and ESSEKENE credit lines), complemented by savings accounts, debit/credit/prepaid cards (ERRASSID, VISA Electron, MIHVADHATI, ESSAYIRE, VISA GOLD, AL VIDDA, VISA AL MOUSSAFIR), and international banking services (documentary credits, foreign exchange, guarantees) routed through correspondent banks in London, Paris, Madrid, Frankfurt, and Casablanca.

The bank's technology platform combines a multi-channel digital banking stack (BAMIS Digital and BAMIS PAY mobile apps, Mobile Banking, Web Banking, SMS Banking, and E-Banking) integrated with the domestic GIMTEL interbank network and the VISA international network, plus a loyalty points program designed to incentivize digital adoption. The digital suite supports remote account opening (free of charge), real-time transfers, QR-code merchant payments, bill and telephone recharges, and card management.

BAMIS generates revenue through profit margins on Islamic financing operations (1-month to 5-year terms), transaction fees on transfers and cash disbursements (0-50 MRU per operation), card issuance and interchange fees, fees on international documentary operations and FX, and merchant acquiring services via BAMIS PAY and TPE terminals. Ownership has been 100% Mauritanian private since 2011, with current major shareholders NASR (38.93%), founder Mohamed Abdallahi Ould Abdallahi (31.93%), and diversified Mauritanian private investors (29.14%); registered capital stands at 1,013.164 million MRU and total balance sheet at 7,705 million MRU as of 2025.

Name

BAMIS: Banque Al wava Mauritanienne ISlamique

Legal name

Banque Al Wava Mauritanienne Islamique

Website

https://bamis.mr

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

BAMIS is the first Islamic bank in Mauritania, founded in 1985 and headquartered in Nouakchott. It provides Sharia-compliant retail, corporate, and digital banking services through 12 branches, 38+ ATMs, and a multi-channel mobile/web/SMS platform to individuals, businesses, public sector employees, and merchants.

Ownership category

akta.pro rank

Product category

Islamic Retail and Corporate Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

akta.pro secondary industries

Islamic Retail Banking (FSABAGAA), Islamic SME & Commercial Banking (FSABAGAB), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF)

Keywords

• Islamic banking services
• Sharia-compliant financing
• Retail banking Mauritania
• Mobile banking apps
• Merchant payment services

Headquarters

HQ city

Nouakchott

HQ country

Mauritania

Offices16 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Islamic Finance Products (Murabaha, Leasing): BAMIS generates revenue through Sharia-compliant financing products including Murabaha (sale with profit margin), Murabaha Revolving (continuous financing), and leasing (Ijar) for equipment financing. The bank offers three main credit products: ETTEMWILE (financing credit), ETTEJHIZZE (equipment credit), and ESSEKENE (housing credit). Revenue is generated through profit margins on financing operations with terms from 1 month to 5 years.
2. Transaction Fees: Fees charged for various banking operations including transfers (30 MRU via Web Banking, 30 MRU via SMS Banking, free via Mobile Banking), cash disbursement (50 MRU via Web Banking, free via Mobile Banking), and other transaction services.
3. Card Services: Revenue from debit cards (ERRASSID, Visa Electron, MIHVADHATI), credit cards (ESSAYIRE, EL WAVA, VISA GOLD), and prepaid cards (AL VIDDA, VISA AL MOUSSAFIR). Cards generate revenue through issuance fees, transaction fees, and withdrawal fees at ATMs.
4. International Banking Services: Services including documentary operations (import/export credits), transfers, foreign currency accounts, exchange operations, and guarantees for international transactions, generating fees for each service type.
5. Digital Banking Services: Revenue from merchant services through BAMIS PAY (merchant application), TPE (electronic payment terminal) services, and digital account management.

Pricing tiers

Go-to-market motion2 records

Distribution channels9 records

Marketing channels11 records

Core offering

BAMIS is a Sharia-compliant Islamic bank providing retail and corporate banking services in Mauritania. Its core offering includes Islamic financing products (Murabaha, Murabaha Revolving, Ijara leasing, equipment loans ETTEMWILE and ETTEJHIZZE, housing loan ESSEKENE), savings accounts, debit, credit, and prepaid card products operating on GIMTEL and VISA networks, international banking services (documentary credits, foreign exchange, foreign currency accounts, guarantees), and a multi-channel digital banking suite (BAMIS Digital, BAMIS PAY, Mobile Banking, Web Banking, SMS Banking, E-Banking). The bank serves individuals, professionals, SMEs, large enterprises, NGOs, public sector employees, and merchants through 12 branches and 38+ ATMs nationwide.

Product overview

BAMIS operates a platform-plus-modules architecture centered on its Islamic banking services. The core offering includes digital banking applications (BAMIS DIGITAL for individuals, BAMIS PAY for merchants), multiple access channels (Mobile Banking, SMS Banking, Web Banking, E-Banking), and a full range of card products (debit, credit, and prepaid wallets). Traditional banking is supported through savings accounts, financing products (Mourabaha, Leasing, equipment and housing loans), and international services. The digital suite—BAMIS DIGITAL, BAMIS PAY, Mobile Banking, SMS Banking, Web Banking, and E-Banking—connects to the GIMTEL and VISA payment networks, while card products span ERRASSID debit, VISA GOLD/ELECTRON credit, and AL VIDDA/MOUSSAFIR prepaid wallets.

Differentiator

Problem solved

Functional benefit

Products and services

• BAMIS Digital Digital banking application for individuals enabling remote account opening, money transfers, bill payments, card management, prepaid card recharging, and phone recharges. Operates as a digital wallet integrated with the GIMTEL network.
• BAMIS PAY Merchant-facing mobile application enabling QR code payments, transfers between clients and merchants with digital accounts, transfers to non-account holders, bill payments, prepaid card recharging, and phone recharges.
• BAMIS Mobile Banking Mobile banking application enabling real-time transfers between accounts, balance and transaction viewing, electronic account statements, and checkbook requests, available free of charge for transfers.
• BAMIS SMS Banking SMS-based banking service enabling account access via mobile 24/7, account movement and balance consultation, and exchange rate inquiry through SMS commands.
• BAMIS Web Banking Online banking platform enabling real-time transfers between BAMIS accounts, balance and transaction viewing, cash disbursement at bank counters, checkbook requests, and electronic account statements accessible 24/7.
• Compte d'épargne (Savings Account) Savings account offering easy access, annual remuneration, and security with no monthly fees.
• Carte de débit ERRASSID Debit card enabling 24/7 cash withdrawals from BAMIS ATMs and GIMTEL network ATMs, and payments at GIMTEL-affiliated merchants including hotels and supermarkets.
• Carte Visa Electron / MIHVADHATI (International Debit Card) International debit card enabling cash withdrawals and payments at GIMTEL or Visa-affiliated ATMs and merchants both in Mauritania and abroad.
• Carte de crédit VISA GOLD International credit card with deferred payment, free credit, enabling 24/7 cash withdrawals at GIMTEL/Visa ATMs and payments at affiliated merchants internationally and online.
• Carte de crédit ESSAYIRE Credit card enabling 24/7 cash withdrawals from BAMIS ATMs and GIMTEL network ATMs, and payments at GIMTEL-affiliated merchants.
• Porte Monnaie AL VIDDA (Prepaid Wallet) Electronic prepaid wallet not requiring a bank account, enabling 24/7 cash withdrawals from BAMIS and GIMTEL ATMs, and payments at GIMTEL-affiliated merchants. Rechargeable with local currency.
• Porte Monnaie VISA AL MOUSSAFIR (Prepaid Travel Card) International prepaid card in Euro currency enabling cash withdrawals abroad at Visa ATMs and payments at Visa-affiliated merchants and online. Rechargeable with Euro equivalent of local currency.
• ETTEMWILE (Equipment Financing Credit) Equipment financing loan with flexible repayment periods, grace period options, favorable margins, and consideration of joint spouse income for capacity assessment.
• ETTEJHIZZE (Equipment Loan) Equipment loan product targeting public and private sector employees and professionals for financing equipment purchases with tailored repayment terms.
• ESSEKENE (Housing Loan) Housing loan product with repayment terms aligned with borrower needs, grace period options, and favorable profit margins for home financing.
• Mourabaha (Commodity Financing) Islamic financing product for purchasing goods at spot price and selling at term (1 month to 5 years) with a predetermined profit margin, used for domestic and international trade financing.
• Mourabaha Revolving (Revolving Commodity Financing) Pre-approved credit facility for clients requiring frequent purchases of diverse products, where the bank grants a mandate to purchase products which are then resold to the client with a predetermined margin.
• Leasing (Ijara) Equipment financing for industrial projects under leasing arrangements for 3-5 years with optional grace periods, with lease payments determined by equipment cost and operation duration.
• International Banking Services Comprehensive international banking services including documentary operations (import/export credits), international transfers, foreign currency accounts, exchange operations, and bank guarantees.
• TPE (Terminal de Paiement Électronique) Electronic payment terminal for merchants enabling card payments at point-of-sale, available through application process at BAMIS branches.
• Simulation Crédit (Credit Simulation Tool) Online credit simulation tool enabling prospective clients to calculate and plan loan repayments before applying for financing.

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature6 records

Partnerships

Ten partnerships are on record, tiered core and standard.

• GIMTELcoreTechnology or IntegrationGIMTEL is Mauritania's interbank network that enables ATM withdrawals and card payments across all participating banks. BAMIS cards (debit, credit, prepaid) operate on the GIMTEL network, allowing customers to withdraw cash and make payments at all GIMTEL-enabled ATMs and merchants throughout Mauritania. The partnership is fundamental to BAMIS's card services infrastructure.
• VISAcoreTechnology or IntegrationVISA is the international payment network enabling BAMIS VISA cards (VISA Gold credit card, VISA Electron debit card, VISA AL MOUSSAFIR prepaid card) to be used internationally at ATMs and merchants displaying the VISA logo. This partnership extends BAMIS's card acceptance globally beyond Mauritania.
• British Arab Commercial Bank (BACOM)standardTechnology or IntegrationCorrespondent bank relationship in London for USD transactions. SWIFT code: BACMGB2L. Enables BAMIS to process international USD transfers and correspondent banking services.
• Société Générale (Paris)standardTechnology or IntegrationCorrespondent bank relationship in Paris for EUR transactions. SWIFT code: SOGEFRPP. Enables BAMIS to process international EUR transfers and foreign exchange operations.
• BBVA (Madrid)standardTechnology or IntegrationCorrespondent bank relationship in Madrid for EUR transactions. SWIFT code: BBVAESMM. Supports BAMIS's European correspondent banking network.
• Commerzbank AG (Frankfurt)standardTechnology or IntegrationCorrespondent bank relationship in Frankfurt for EUR transactions. Supports BAMIS's German market correspondent operations.
• ODDO BHF Aktiengesellschaft (Frankfurt)standardTechnology or IntegrationCorrespondent bank relationship in Frankfurt for EUR transactions. SWIFT code: ODDO BHF. Part of BAMIS's European correspondent banking infrastructure.
• BMCE (Casablanca)standardTechnology or IntegrationCorrespondent bank relationship for MAD (Moroccan Dirham) transactions. SWIFT code: BMCEMAMC. Located in Casablanca, Morocco. Enables BAMIS to process MAD-denominated international transfers.
• Google Play StorestandardTechnology or IntegrationDistribution platform for BAMIS Digital and BAMIS PAY Android applications. Customers download the bank's mobile apps from Google Play to access digital banking services.
• Apple App StorestandardTechnology or IntegrationDistribution platform for BAMIS Digital and BAMIS PAY iOS applications. Customers download the bank's mobile apps from Apple App Store to access digital banking services.

Scale indicators9 records

Recent moves15 records

Expansion highlights6 records

Direct peers

• Banque Populaire de Mauritanie (BPM): Local Mauritanian commercial bank offering retail and corporate banking, including products to the Mauritanian diaspora. Direct competitor to BAMIS in the Mauritanian deposit and lending market, serving overlapping individual and corporate segments.
• Attijariwafa Bank Mauritanie: Local subsidiary of Moroccan pan-African banking group Attijariwafa bank, offering full-service retail, corporate, and trade finance in Mauritania. Comparable to BAMIS as a multi-channel commercial bank competing for the same Mauritanian deposit and financing pool.
• Banque Islamique du Sénégal (BIS): Senegalese Islamic bank providing Shariah-compliant retail, corporate, and financing products. Comparable to BAMIS as a regional Islamic commercial bank serving a neighboring West African market with similar Murabaha- and Ijara-style offerings.
• Société Générale Mauritanie: Local subsidiary of French banking group Société Générale, offering retail, corporate, and international banking services in Mauritania. Comparable to BAMIS as a full-service commercial bank operating in the same Mauritanian market with similar product breadth.
• BSIC (Banque Sahélo-Saharienne pour l'Investissement et le Commerce): Pan-African Islamic bank operating across West and Central Africa offering Shariah-compliant financing, Murabaha, and Ijara products. Direct peer to BAMIS in the West African Islamic retail and commercial banking segment.
• Chinguitty Bank Mauritanie: Local Mauritanian bank serving retail, corporate, and government clients via a branch network across the country. Comparable to BAMIS as a domestic Mauritanian bank competing for the same deposit and lending base, with Islamic-shariah-compatible offerings.

Broad incumbents

• Al Baraka Banking Group: Bahrain-based pan-Islamic banking group with subsidiaries across MENA, Asia, and Africa. BAMIS originated as Al Baraka Mauritania before local buyout in 2011; comparable as a Shariah-compliant banking group offering Murabaha, Ijara, and similar product sets at larger scale.
• Bank of Africa (BOA): Pan-African commercial banking network with a Mali franchise and broader West African footprint. Comparable to BAMIS as a multi-branch commercial bank targeting retail customers, SMEs, and corporations across West Africa, with broader geographic diversification.
• Al Salam Bank: Shariah-compliant banking group with operations across Bahrain, Algeria, and other MENA markets. Comparable to BAMIS as a Shariah-compliant bank offering Murabaha, Ijara, and similar Islamic financing products, though at a larger institutional scale.

Regional players

• Coris Bank International: West African banking group headquartered in Burkina Faso with operations across the WAEMU region. Comparable to BAMIS as a regional commercial bank pursuing West African expansion, including digital banking and SME financing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/BAMIS59743008
• YouTubeyoutube.com/channel/UC9U2X9j65gUZ1DvB7UhUfyg
• Facebookfacebook.com/bamis.mr
• LinkedInlinkedin.com/company/bamis-banque-al-wava-mauritanienne-islamique
• Instagraminstagram.com/bamis_banque_al_wava
• TikToktiktok.com/@bamisdigital

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BAMIS: Banque Al wava Mauritanienne ISlamique