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Mohamed Benchaaboun

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  • Morocco Returns to Global Bond Market with €1 Billion Euro Issue
    24 November 2019, by Bladi.net

    Morocco issued a bond on the international financial market on Thursday, November 21 for an amount of one billion euros. This loan will cost 1.5% interest rate.
    In a press release, the Ministry of Economy and Finance announced that this issue was a great success. According to them, this issue marked the return of the kingdom to the international financial market after an absence of five years and was "remarkably successful with international investors".
    According to the same press (…)

  • Morocco Faces Financial Strain as Court-Ordered Seizures of State Property Rise
    3 November 2019, by Ginette

    The Minister of Economy, Finance and Public Administration Reform, Mohamed Benchaâboun, is concerned about the increase in seizures of state property. For him, this remains a huge risk for the Kingdom.
    The frequency of court decisions in favor of seizing state property risks threatening the financial balance of the country, public institutions and local authorities, if the execution of judgments does not take into account the constraints of the general budget.
    It was in response to a (…)

  • Morocco Delays Implementation of Global Tax Transparency Measure
    3 March 2021, by Jérôme

    In addition to Morocco’s exit from the EU’s gray list and its monitoring to exit the FATF gray list, another essential norm for the Moroccan economy is at stake. This is the country-by-country reporting known internationally as Base Erosion and Profit Shifting (BEPS), introduced by the 2020 Finance Act, for fiscal years open from January 2021.
    Faced with globalization, taxpayers have the possibility of circumventing tax obligations in order to flee the jurisdictions of their residences (…)

  • Morocco Reverses Tax Exemption for Retirees in Budget Bill Amendment
    12 December 2019, by Sylvanus

    The Minister of Finance, Mohamed Benchaâboun, has just canceled the measure of total exemption from income tax (IR) for retirees, before the finance committee of the first chamber of Parliament. The latter met to proceed with the second reading of the Finance Bill (PLF).
    After being approved at the last minute by the House of Councillors on December 6, the measure of total exemption from income tax (IR) for retirees was canceled on Wednesday, December 11, reports TelQuel.
    Finance (…)

  • Morocco Advances Bill to Regulate Crowdfunding, Boost Entrepreneurship
    30 December 2019, by Bladi.net

    The Moroccan government wants to equip crowdfunding with a legal framework. The crowdfunding bill was presented to Parliament last Tuesday by the Minister of Finance.
    Awaited since April 2018, the examination of the bill that should frame crowdfunding has been launched in Morocco. This project aims to "strengthen financial inclusion, particularly for young entrepreneurs, and to support economic and social development, as well as to direct savings towards new financing opportunities". (…)

  • US Grants Morocco $94 Million for Economic Development and Tech Innovation
    7 July 2019, by Bladi.net

    An agreement was signed this week in Rabat between Mohamed Benchaaboun, Minister of Economy and Finance, and Brooke Isham, Director of the United States Agency for International Development (USAID) in Morocco. This protocol agreement specifies the donation, by the American structure, of $94 million, or about 846 million dirhams, to Morocco, to "finance the inclusive socio-economic development program".
    According to a press release from the Ministry, the project targeted by this American (…)

  • Morocco Taps Global Banks for Euro-Denominated Bond Issuance
    24 September 2020, by Sylvanus

    Bloomberg has announced that the kingdom has mandated four investment banks to assist it in this debt raising. These are Barclays, BNP Paribas, Natixis and JP Morgan.
    Launched on Wednesday, this debt raising will be in euros with two maturities: 5 and 10 years. No target amount. "It is a call for subscription where each investor will estimate the amount it can put in," explains an expert to the Le Boursier site.
    "These new bonds will be assimilated to old Moroccan lines that will mature. (…)

  • Morocco Appoints Former Finance Minister as New Ambassador to France
    18 October 2021, by Armel

    The former Minister of Economy and Finance succeeds Chakib Benmoussa in this strategic position.
    Born in Casablanca in 1961, the new ambassador has held high positions within various public and private organizations, including the position of Director General of the Banque Populaire Group and Director General of the National Telecommunications Regulatory Agency.
    Benchaâboun also held the position of Director of the Customs and Indirect Taxes Administration within the Ministry of Economy (…)

  • IMF Chief Georgieva to Visit Morocco for Economic Talks
    5 February 2020, by Bladi.net

    Kristalina Georgieva, the new Managing Director of the International Monetary Fund (IMF), is expected in Morocco as early as February 19 on economic development issues.
    The new Managing Director of the International Monetary Fund (IMF) will be on an official visit to Morocco on February 19, says Aujourd’hui Le Maroc. This will be one of the stages of her Maghreb tour. Kristalina Georgieva is to intervene with the Moroccan side, on issues of great concern, in particular with the Minister (…)

  • Moroccan Families Spend 5,800 Dirhams Annually on Food, Government Data Shows
    9 February 2020, by Sylvanus

    The average annual expenditure of Moroccan families on food products is around 5,800 dirhams. This is indicated by data from the Ministry of Economy and Finance.
    The share of food expenditure in the household budget has increased from 37% to 41% nationwide, between 2001 and 2014, but with a noted disparity between urban and rural areas, i.e. 33% versus 47.3%. This is the main point to remember from the response of the Minister of Economy and Finance, Mohamed Benchaaboun, to a written (…)