Bank Al-Maghrib proposes new regulatory framework for Moroccan banking sector

The Credit Institutions Committee (CEC), chaired by the Governor of Bank Al-Maghrib, has issued a favorable opinion on ten regulatory texts designed to strengthen the Moroccan banking sector. These measures focus on diversifying refinancing sources, enhancing cybersecurity, and improving customer relations.

Seven of the circulars pertain to the implementation of Law No. 94-21 regarding covered bonds. These provisions aim to operationalize this financing mechanism, allowing credit institutions to diversify their refinancing capabilities and support long-term projects, such as real estate.

The remaining three texts address critical risk management areas, including updated vigilance requirements for combating money laundering, terrorist financing, and proliferation financing. Additionally, the new regulations aim to bolster digital operational resilience to protect the sector against increasing cyber risks during its digital transformation.