Morocco MRE transfers Europe regulatory challenges 2026

Bank Al-Maghrib wants to reassure about MRE transfers to Morocco. Abdellatif Jouahri, governor of the central bank, acknowledged the existence of regulatory difficulties in Europe, but he believes there is no reason to worry at this stage.

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The issue concerns the relay function of Moroccan banks established in Europe, called into question by European regulations adopted after Brexit. This situation forces Morocco to discuss with the countries concerned to avoid any disruption in operations carried out by Moroccans residing abroad.

But Abdellatif Jouahri insists on one point: MRE transfers continue to evolve positively. "So far, knock on wood," he said, recalling that volumes are still increasing.

The governor of Bank Al-Maghrib believes that the initial discussions engaged with the European countries concerned give a "rather positive" impression. France was handled first, before opening exchanges with other countries such as the Netherlands and Belgium.

Complete resolution of the issue will, however, take time. Abdellatif Jouahri thinks discussions could continue "throughout 2026." Each European country has its own interpretation of the regulations, which forces Rabat to move forward step by step.

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For now, Bank Al-Maghrib’s message is therefore cautious, but reassuring. Morocco wants to preserve the fluidity of MRE transfers, while preventing new European rules from creating blockages or additional constraints.