Economy

Attijariwafa Bank’s European Subsidiary Fined €500,000 for Anti-Money Laundering Failures

29 January 2021

The Sanctions Commission of the Prudential Supervision and Resolution Authority-ACPR has fined Attijariwafa Bank (AWBE) with a reprimand and a fine of 500,000 euros for failure (…)

Marrakech Unveils Luxury ’M Avenue’ Shopping District, Rivaling Paris’s Champs Élysées

28 January 2021

With its international luxury brands and Cristiano Ronaldo’s Pestana CR7 hotel, Avenue M, the most beautiful thoroughfare in Marrakech, dreams of rivaling the Champs Élysées in (…)

Morocco Intensifies Monitoring of Fruit and Vegetable Prices to Combat Speculation

28 January 2021

The Ministry of the Interior is determined to control the prices and quality of food products, particularly fruits and vegetables, and to ensure their regular supply to the (…)

Ryanair Waives Flight Change Fees Through March, Offers Flexible Booking for Summer Travel

28 January 2021

All Ryanair airline customers who book by the end of March are exempt from flight change fees. Passengers of the Irish low-cost airline can also make "two date change (…)

Morocco Ranks 2nd in Africa for Low-Carbon Economy Progress, MIT Index Shows

28 January 2021

Morocco ranks 1st in the 2021 edition of the Green Futur Index in the MENA region and 2nd on the continental level. This ranking by the Massachusetts Institute of Technology (…)

Morocco’s Tourism Industry Plummets: 51% Revenue Drop Amid Pandemic

28 January 2021

From January to November 2020, Moroccan tourism revenues fell by 51% due to the consequences of the health crisis. But the decline had a mitigating factor of 76% a month (…)

Moroccan Tax Authority Cracks Down on $3 Billion Fake Invoice Fraud

27 January 2021

The General Directorate of Taxes (DGI) is in open struggle against fake invoices. To better track down counterfeiters, it can now do without the Anti-Tax Fraud Commission and (…)

Morocco Awaits EU Decision on Removal from Tax Haven Gray List

27 January 2021

As part of the update of the list of tax havens, Brussels will soon host a much-awaited meeting for Morocco. This will be an opportunity to find out if the Kingdom’s efforts (…)

Moroccan Sugar Giant Cosumar Thrives Amid Crisis, Boosting Exports by 25%

27 January 2021

While almost all sectors of activity are only grinding black due to the health crisis, the Moroccan leader in sugar displays great satisfaction. In seven years, the tonnage (…)

Morocco Expands Health Insurance Access for Self-Employed Workers

27 January 2021

The circular note on the provisions of the 2021 Finance Act published by the DGI explains in detail the modalities of application of the medical coverage of self-employed (…)