Faced with massive inflows of foreign currencies, particularly in euros, fueled by remittances from Moroccans living abroad, tourism, and exports, bank trading rooms have suspended their purchases of euros. Bank Al-Maghrib observes without intervening, leaving the banking sector to manage this crisis alone.
Abdellatif Jouahri, the Governor of Bank Al-Maghrib, provided new details on the European directive that threatens the activity of Moroccan banks in Europe and the transfers of Moroccans residing abroad (MREs), stressing the need to remove any legal ambiguity in the agreement reached with France and that negotiations continue with other European countries.
At the Moroccan Parliament, Abdellatif Jouahri, Wali of Bank Al-Maghrib (BAM), discusses the importance of reforming the exchange rate regime.
After seven years of total ban, Morocco is about to make a U-turn and legalize the use of cryptocurrencies . This change of course is being driven by Bank Al Maghrib (BAM). A draft law, currently in the process of being adopted, will allow the use of these digital assets to be regulated.
Morocco is seeking to reduce the dirham’s dependence on fluctuations in the euro and the dollar. In this sense, Bank Al-Maghrib (BAM) is preparing to implement an ambitious reform long awaited.
The European directive on foreign banks operating in the European Union (EU) is worrying Moroccan authorities and banks, who fear a drastic drop in transfers of Moroccans residing abroad (MRE) due to this measure. Negotiations are ongoing between Moroccan authorities and stakeholders in the EU for a harmonious application of the regulations.
The government’s decision to remove the butane gas subsidy is timely and salutary in the sense that these financial resources will be used to strengthen direct aid to vulnerable groups, said Abdellatif Jouahri, Wali of Bank Al-Maghrib, on Tuesday.
Abdellatif Jouahri , Governor of Bank Al-Maghrib, conditions a new widening of the dirham’s fluctuation bands on the lifting of uncertainties concerning global and national economic prospects.
Faced with the tightening of European authorities on transfers by Moroccans residing abroad (MREs), the wali of Bank Al-Maghrib (BAM) , Abdellatif Jouahri, calls for a major diplomatic action.
The Governor of Bank Al Maghrib (BAM), Abdellatif Jouahri, provided clarification on the depreciation of the dirham in recent months.
Just over 7,300 counterfeit bills were detected in Morocco in 2021, according to a report presented to King Mohammed VI by the Wali of Bank Al-Maghrib (BAM), Abdellatif Jouahri.
Morocco is gradually preparing to face any eventuality related to the threat of tightening the rules of transfers of Moroccans living abroad , brandished by certain European countries, particularly France.