Morocco approves banking reform law to strengthen financial stability
Morocco’s lower house of parliament has approved a draft law aimed at reinforcing oversight and crisis management within the country’s banking sector. The legislation targets the legal framework governing credit institutions and the central bank, with a focus on improving early intervention tools and resolution mechanisms for financial distress. The vote marks a step in ongoing regulatory reforms designed to enhance resilience in the financial system.
The bill, identified as Law No. 87.21, introduces amendments to existing banking legislation, including Law No. 103.12 on credit institutions and related entities, as well as Law No. 40.17 governing the statutes of Bank Al-Maghrib. Lawmakers approved the text during a legislative session with 66 votes in favor and 28 against, reflecting a divided but decisive parliamentary endorsement.
Government representatives said the reform responds to increasing domestic and global concerns over financial stability risks, particularly those linked to large banking institutions whose failure could trigger systemic disruption. Officials emphasized that the evolving structure of global finance requires stronger legal instruments capable of addressing crises more rapidly and limiting their economic spillover effects.
The new framework aims to equip regulators with expanded authority to intervene earlier in struggling financial institutions and apply structured resolution processes when necessary. It also reinforces governance standards, improves transparency requirements in licensing procedures, and clarifies the role of the Deposit Guarantee Fund in protecting depositors and maintaining confidence in the banking system.
Authorities added that the reform aligns with broader efforts to modernize Morocco’s financial regulatory architecture in response to tighter global integration of financial markets. By strengthening institutional oversight and crisis-response capacity, policymakers aim to reduce vulnerabilities and ensure continuity of essential banking services during periods of economic stress.
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