he Credit Institutions Committee met on October 22 at Bank Al-Maghrib’s headquarters in Rabat for its annual meeting and gave a favorable opinion on ten regulatory texts, according to the central bank’s statement dated October 23. Seven are implementing circulars for law no. 94-21 on covered bonds, meant to complete the framework for an instrument designed to diversify credit institutions’ sources of funding. The other three concern due diligence, digital risk and customers: an amendment to circular no. 5/W/2017 on the duty of vigilance, to align it with the recent evolution of the Financial Action Task Force’s standards on combating money laundering, terrorist financing and proliferation financing; a directive setting minimum rules for digital operational resilience; and a directive on customer reception and the measurement of customer satisfaction.
The committee, chaired by the Wali of Bank Al-Maghrib, also brings together representatives of the Ministry of Finance, banks, finance companies, payment institutions and microcredit. It also approved the cooperation agreement on banking supervision, information exchange and general cooperation signed on April 21, 2026 with the Bank of Uganda. For the central bank, the whole package should enrich the rulebook applying to the sector, better arm institutions against cyberattacks and answer the concerns of the FATF. The statement does not say when the texts will be published: the first covered bonds can only appear once the seven circulars are in force.
Photo: CAPTAIN RAJU, CC0.
Bank Al-Maghrib - Tenue de la réunion du Comité des établissements de crédit dans sa composition élargie
