Morocco is accelerating the process of correcting its national system to combat money laundering, in order to get out of the gray list of the Financial Action Task Force (FATF) by September.
Bank Al-Maghrib (BAM) will set up an ad hoc commission that will be responsible for providing explanations on the spectacular increase in transfers from the Moroccan diaspora recorded this year.
Bank Al-Maghrib (BAM) has just signed a memorandum of understanding with the Bank of Russia (the Central Bank of the Russian Federation), in order to improve and strengthen the cooperative relations between Morocco and Russia.
The Governor of Bank Al-Maghrib, Abdellatif Jouahri , presented on Saturday to King Mohammed VI the annual report of the Central Bank on the economic, monetary and financial situation of the kingdom for the year 2020. The year 2020 was mainly disrupted by the health crisis related to Covid-19.
Many Moroccans living abroad are worried following the publication of information according to which they are obliged to declare their bank accounts held in Morocco. The Governor of the Bank of Morocco tries to reassure and affirms that this is not the case, at least for the year 2021.
Abdellatif Jouahri , Governor of Bank Al Maghrib, plans to take his leave in the coming months. The man, who will be celebrating his 81st birthday, will have spent 17 years at the head of the kingdom’s largest financial institution.
As of the end of September 2020, the number of beneficiaries of the deferral of the maturities of real estate and consumer loans for people impacted by the health crisis related to Covid-19 , put in place on March 19 by the Economic Monitoring Committee, reached 471,742 households in the Kingdom. At the same time, 32,248 requests from companies were validated by the banking sector.
The Governor of Bank Al-Maghrib (BAM), has achieved a new feat. Moroccan Abdellatif Jouahri has been ranked in the top 10 best central bankers for the fourth consecutive time.
The coronavirus has had a negative impact on the Moroccan economy, resulting in a loss of around 70 billion dirhams. This is at least what Abdellatif Jouahri, Governor of Bank Al-Maghrib (BAM), has stated.
Abdellatif Jouahri, Wali of Bank Al-Maghrib, in an interview with Medias24 , discussed the consequences of the Coronavirus on the economic sector of the kingdom, the support measures taken by the economic monitoring committee and the prospects.
Bank Al-Maghrib and the Ministry of Finance are working on the triggering of the next stage of the reform related to the flexibility of the dirham. But prerequisites must be defined upstream.
Morocco wants to take a new step in the process of flexibility of the dirham.