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  • Syensqo CEO Receives Record-Breaking $28 Million Bonus in Belgium
    3 April, by Prince

    Ilham Kadri, the CEO of Syensqo, has obtained a bonus of 25.7 million euros over the past two years. A cash bonus never awarded in Belgium. The manager of Moroccan origin could also benefit from a retention bonus of 7.5 million euros by 2026.
    After the split of Solvay into two separate listed structures (Solvay and Syensqo), validated at the end of 2023 during a General Meeting, Ilham Kadri, then CEO of Solvay, became CEO of Syensqo with a bonus of 12 million euros. The largest cash bonus (…)

  • Morocco to Raise $880 Million from Maroc Telecom Stake Sale
    17 June 2019, by Said

    The sale by the Moroccan government of 8% of Maroc Telecom, as part of a new privatization policy, should bring in 8.87 billion dirhams, according to data communicated by the Moroccan Capital Market Authority (AMMC).
    Thus, a 6% stake, or 52.74 million shares, at a price of 127 dirhams, will be reserved for local institutional investors such as pension funds, insurance companies and banks, according to data provided by the AMMC, reports Reuters, which is based on a document published by (…)

  • Moroccan Dirham Holds Steady Against Euro, Gains on Dollar in Early August
    13 August 2019, by Bladi.net

    From August 1 to 7, 2019, the value of the dirham remained almost stable compared to the euro. The Moroccan currency appreciated by 0.44% against the dollar, according to Bank Al-Maghrib (BAM).
    In a note on its weekly indicators, BAM indicates that no auction operation was carried out on the foreign exchange market. The same note points out that, on August 2, the net international reserves stood at 231.8 billion dirhams (MMDH), up 0.4% from the previous week and 2.9% year-on-year.
    The (…)

  • Moroccan Dirham Strengthens Against Euro and Dollar in July
    18 August 2019, by Bladi.net

    In July 2019, the Moroccan currency appreciated against the two reference currencies, the euro and the dollar. This is according to data published by Bank Al-Maghrib (BAM).
    Good end of June for the dirham! Thus, in the 6th month of the year, the Moroccan currency appreciated by 0.78% against the European currency, and by 0.09% against the US dollar.
    This surge is justified by the implementation of the new flexible dirham regime. This has allowed local banks to be self-sufficient in (…)

  • Moroccan Dirham Strengthens Against Euro and Dollar, Reserves Rise
    27 August 2019, by Bladi.net

    For the period from August 15 to 21, 2019, the Moroccan dirham gained 0.07% against the euro, and 0.39% against the US currency, according to the weekly indicators released by Bank Al-Maghrib.
    A good week for the Moroccan currency. According to the Moroccan central bank, it appreciated against the two benchmark currencies, namely the US dollar and the euro.
    During the same week, the Moroccan bank indicates that it did not carry out any auction operations on the foreign exchange market. (…)

  • Fuel Prices Surge in Morocco as Global Oil Costs Rise
    2 July 2020, by Bladi.net

    While they had fallen during the confinement period, the prices of the various fuels are now on the rise again in the Moroccan service stations.
    As for Diesel, it stands at 8.25 dirhams/liter while gasoline is at 9.24 dirhams. These prices vary each month from the 1st to the 15th, and from the 16th to the 30/31.
    Fuel prices at the pump should maintain this upward trend if we rely on the increase in world crude oil prices.
    In Morocco, fuel prices at the pump vary according to several (…)

  • Moroccan Fuel Prices Surge Following Saudi Oil Attacks
    4 October 2019, by Bladi.net

    In just one month, fuel prices in Morocco have seen several successive increases, and of course it is the motorists who are the first victims. The origin of this price surge is the attacks on Saudi oil production facilities.
    Diesel has seen its price increase by 30 cents and is currently around 10 dirhams per liter. Unleaded premium has increased by 20 cents and is now at 11.4 dirhams.
    This development is justified by the series of drone attacks against two Saudi Aramco oil facilities (…)

  • Moroccan Dirham Gains Against Dollar, Holds Steady vs Euro: Bank Al-Maghrib Report
    13 October 2019, by Bladi.net

    The dirham rose 0.39% against the dollar and stabilized against the euro during the period from October 3 to 9, according to Bank Al-Maghrib (BAM).
    In a note on its indicators, Bank Al-Maghrib (BAM) reports that this period was marked by the absence of any auction operation.
    According to the Bank’s note, international reserves as of October 4 stood at 232 billion dirhams (MMDH), a decrease of 0.4% from the previous week and an increase of 3.8% year-on-year.
    In terms of interventions (…)

  • Moroccan Dirham Weakens Against Euro and Dollar, Central Bank Reports
    4 November 2019, by Bladi.net

    The Moroccan dirham lost 0.20% against the euro and 0.76% against the US currency, in the period from October 24 to 30, according to the weekly indicators released by Bank Al-Maghrib (BAM).
    During this period, no auction operation was carried out on the foreign exchange market, BAM said in its note on its weekly indicators. It added that as of October 25, net international reserves stood at 231.4 billion dirhams (MMDH), almost stagnant from one week to the next and up 2.9% year-on-year. (…)

  • Morocco to Allow Foreign Currency Accounts for Citizens in 2024
    7 November 2019, by Bladi.net

    Starting next year, Moroccans will be able to hold foreign currency accounts or convertible dirham accounts with Moroccan banks, according to the Finance Minister.
    A measure with a dual objective, this decision of the Ministry of Finance aims to relax the restrictive regulations on the issue of foreign exchange, to eliminate certain motivations behind the circumvention of Moroccan regulations and to allow Moroccans in violation to regularize their situation in order to be within the law. (…)