Moroccan government approves decree to enhance solidarity fund for catastrophic events

The Government Council, meeting on Thursday in Rabat, has given the green light to draft decree 2.24.1123. This decree updates and expands upon decree 2.19.244, initially issued on 1st Safar 1441 (September 30, 2019). It introduces a parafiscal levy known as the «solidarity tax against catastrophic events», designed to support the Solidarity Fund for Catastrophic Events.

This draft decree, put forward by the Minister of Economy and Finance, Nadia Fettah, is a crucial step in the enforcement of Law 110.14, which establishes a framework for addressing the aftermath of catastrophic events. It also revises Law 17.99, which outlines the Insurance Code, originally enacted by Dahir 1-16-152 on 21 Kaada 1437 (August 25, 2016). These details were provided by Mustapha Baitas, the Minister Delegate in charge of Relations with Parliament and Government Spokesperson, during a press briefing after the Council session.