The Directorate General of Taxes (DGI) has decided to bring out of the shadows certain taxpayers who were escaping the tax radar, while displaying outward signs of wealth (purchases of luxury cars, significant real estate transactions and well-stocked bank accounts).
In Quebec, a vast domain belonging to Morocco’s richest man, Othman Benjelloun, CEO of Bank of Africa (BOA), has been sold at a high price.
Following a complaint filed by a citizen reporting the falsification of documents and the fraud of nearly 20 million dirhams by bank employees and lawyers, the National Brigade of the Judicial Police (BNPJ) conducted its investigation and then forwarded the file to the prosecutor at the criminal chamber at the Court of Appeal of Casablanca.
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.
The Wali of Bank Al-Maghrib, Abdellatif Jouahri, discussed with the executives of the British fintech company Revolut about its establishment in Morocco.
Following alert statements from a major bank in Casablanca , involving a company led by a businesswoman and a group of partner companies, the control services of the National Financial Intelligence Authority have intensified their investigations into a vast case of money laundering , carried out through fictitious commercial transactions.
Redouan Achergui, a 39-year-old man from Deurne, was heavily sentenced by the Antwerp Assize Court for the murder of his partner Yentl Heylen (36 years old), the theft of her bank card and computer fraud.
Criticism of Moroccan banks is multiplying. Increasing fees, insufficient transparency, lack of liquidity in ATMs: these are practices that the Moroccan Federation of Consumer Rights describes as abusive and contrary to the law in force.
Advertisements for seized real estate properties sold at low prices at auction are multiplying on social networks in Morocco. Presented as lucrative opportunities under catchy titles, these sales hide a complex social reality, marked by an increase in mortgage defaults.
The British fintech Revolut is considering setting up in Morocco. Preliminary discussions have taken place with the central bank. This project could transform the country’s banking landscape by offering an alternative to consumers, particularly Moroccans living abroad (MREs).
The implementation of the European Directive 2024-1619 (CRD6), which imposes a harmonized and unified framework on subsidiaries of third-country banks in the European Union (EU), will deal a severe blow to Moroccan banks present in Europe and will reduce the flow of transfers from Moroccans residing abroad (MREs) to Morocco.