Forgotten Moroccan Bank Accounts Can Eventually Be Transferred to the State
A forgotten account in Morocco could cost you all the savings sitting in it. After ten years without any transaction or claim, the bank closes the account and transfers the funds to the Caisse de dépôt et de gestion. Five years later, any unclaimed money is transferred permanently to the Treasury.
An account opened for holidays, savings kept in the country, then years without touching it. This situation affects, in particular, Moroccans living in France, Belgium or the Netherlands who kept a bank account after leaving.
The mechanism is set out in Article 152 of Banking Law No. 103-12. After ten years without any transaction or claim by the account holder or their heirs, the bank must close the account. It transfers the funds to the Caisse de dépôt et de gestion (CDG).
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The CDG holds the funds for their owner or heirs for a further five years. During this period, they can still claim their money back. Once the deadline has passed, unclaimed assets are time-barred and legally transferred to the Treasury.
A warning letter before the funds are permanently lost
The law also requires banks to notify certain customers before closing their accounts. When the principal and interest reach the threshold set by ministerial order, a registered notice must be sent to the account holder or their heirs within the six months preceding the ten-year deadline.
To find funds that have already been transferred, the CDG offers Amanti, a free service for people living in Morocco and abroad. The platform lets users search for old bank assets and request their return by submitting the required supporting documents.
The first step is to contact your bank to check the account’s status and the date of the last transaction or claim. If the funds are already with the CDG, the account holder or their heirs can submit a claim through Amanti.
The deadline is calculated from the last transaction or claim, not from the date of departure abroad. Once the five-year holding period at the CDG has elapsed, any unclaimed funds are permanently transferred to the Treasury.
