Major Moroccan Bank Launches Probe into Suspicious Loan Practices

It all started from the observation that the number of outstanding files within the bank has increased and the non-compliance with the prudential rules in force for loans totaling more than 30 million dirhams. An inspection commission was then set up to thoroughly examine more than 400 financings granted to legal entities. This internal investigation reveals that "some have been validated without the usual guarantees being presented by the clients, while for others, the guarantees presented were not sufficient," reports Assabah. In addition, there would be collusion between regional managers of the bank and certain clients to facilitate their access to financing. As a result, the bank suspects cases of corruption.

If cases of corruption are confirmed, this internal inspection mission could turn into a legal case, strict instructions have been given to prosecute any person involved, regardless of their status in the bank’s hierarchy. Similar cases involving bank officials who had accepted "envelopes" to facilitate the granting of loans had already been presented to the courts. The daily also recalled the dismantling of a network specialized in intermediation between corrupt bankers and clients, whose modus operandi consisted in finding interested clients for loans, facilitating the preparation of files, and then collecting a commission deducted from the financing granted by the bank.