Moroccan Banks Face Privacy Concerns Over Real Estate Disclosure Requirements

During a parliamentary session, a deputy from the Authenticity and Modernity Party addressed a request for explanation to the Minister of Finance, Mohamed Benchaâboun, on the reasons for the violation of the privacy of citizens by certain banking institutions.

This procedure, the parliamentarian said, is used in the case of a request for a mortgage loan, where the client is forced to provide mortgage guarantees to the bank to support his file.

The fact that the procedure is generalized to all clients, outside of any banking transaction, raises questions about its legal legitimacy, added the deputy, knowing that Moroccan law is supposed to protect the private data of Moroccan citizens.

If the request for a list of assets is the responsibility of the judiciary and control institutions, in accordance with the legislative texts in force, the elected member of the House of Representatives asks the Minister to explain the reality of this provision and the measures planned to protect the private data of Moroccans.