EU Banking Directive Threatens Remittances to Morocco, Officials Respond
– bySylvanus
· 1 min read
Concerned about the impact of the European directive regulating the presence of foreign banks on the territory of the European Union (EU) on the flow of remittances from Moroccans living abroad (MRE), Bank Al-Maghrib (BAM), several banks, the Ministry of Foreign Affairs and the Ministry of Economy and Finance are working in synergy to circumvent the obstacles.
"This is an issue that we take very seriously, as it weighs on both the balance of payments and bank deposits, of which MRE deposits represent around 20%. This is a file that deserves to be followed very closely," said Abdellatif Jouahri, Governor of Bank Al-Maghrib (BAM), at the end of
Category: Economy
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