French Insurance Broker SPB Exits Morocco After 11 Years of Operations
11 July 2024
Present in Casablanca since 2013, the French insurance broker SPB (Société de prévoyance bancaire) has just ended its activities.
Banks
Moroccan Expat Caught in Million-Dollar Money Laundering Scheme from Pacific Tax Haven
6 July 2024
Assisted by the National Financial Intelligence Authority (ANRF), a bank managed to unmask a money laundering scheme following a transfer from the tax haven of Nauru, located (…)
Moroccan Bank Director Vanishes with Millions in Client Funds, Sparking Investigation
9 June 2024
In Tetouan, the director of a Bank of Africa (ex BMCE Bank) branch agency has stolen significant sums of money from his clients before disappearing.
Major Moroccan Bank Launches Probe into Suspicious Loan Practices
7 June 2024
In Morocco, a bank is conducting a vast investigation into the conditions for granting several loans. This inspection mission could turn into a legal case.
Moroccan Bank Guard Sentenced for Embezzling Thousands from Customer Accounts
30 May 2024
The Court of First Instance in Fez has sentenced in absentia to five years in prison and a fine of 30,000 dirhams a security guard of a bank branch in the Midelt region, (…)
Tetouan Bank Director Suspended by Istiqlal Party Amid Embezzlement Allegations
27 May 2024
Accused of embezzlement, Daniel Ziouzio, director of a bank agency in Tetouan and also vice-president of the municipality, has just been suspended by his party, Istiqlal.
Moroccan Bank Director Arrested for Multi-Million Dirham Embezzlement Scheme
26 May 2024
The Chamber of Financial Crimes of the Court of Appeal of Rabat ordered on Saturday the detention of the director of a bank branch in Tétouan, accused of embezzlement and (…)
Moroccan Bank Director Arrested for Multimillion-Dirham Fraud Scheme in Tetouan
24 May 2024
Tens of millions of dirhams diverted from client accounts: Daniel Ziouzio, 55, director of the Moroccan Union of Banks agency in Tetouan, was arrested and placed in custody.
Moroccan Dirham Gains 0.44% Against Euro, Official Reserves Rise to 374 Billion
13 May 2024
The Moroccan currency appreciated by 0.44% against the euro and depreciated by 0.69% against the US dollar, during the period from May 2 to May 8. This is specified by the (…)
Moroccan Bank Fraud Trial: Employees Accused of $84,000 Embezzlement Scheme in Fez
16 April 2024
The trial of an employee of a bank branch located in the Tghate district, accused of embezzling a sum of nearly 841,000 dirhams and his accomplices, opens before the court of (…)