EU Considers Stricter Rules on Money Transfers from Moroccan Expats

The subject was raised by the Wali of Bank Al-Maghrib (BAM), Abdellatif Jouahri, during the press conference that followed the 2nd meeting of the Central Bank Council. The European Union could make banking operations with Moroccans living abroad more complex, he revealed.

In anticipation of this threat, a commission has been set up for a few months to examine the issue. "We are preparing a draft, with the GPBM, which will be transmitted to the Ministry of Foreign Affairs so that, during its discussions with the European Union, it has all the data," Jouahri said.

And he added: "The objective is to prepare for the eventuality of an EU regulation that would make the work of our banks with our Moroccans living abroad more difficult. And some countries have already started to do so." The Central Bank reaffirms its firm commitment to maintaining the possibility for our citizens of the world to transfer their money to Morocco, he concluded.