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On Friday, 20th of October, the Algerian Foreign Minister, Abdelkader Messahel accused Morocco in a debate of business leaders in Algiers of using banks’ investments to launder money in Africa. The «very serious» accusations of the Algerian Minister have given birth to a diplomatic crisis between the two neighboring countries.
Speaking to Algerian businessmen, Messahel indicated that «everyone knows that Moroccan banks launder hashish money. The leaders of many African countries have told me this». Messahel who desperately tried to explain the sharp increase in investments by Moroccan banks in Sub-Saharan Africa in recent years added that «Royal Air Maroc transported more than just passengers».
In an attempt to protest against the serious statements of Abdelkader Messahel regarding the African policy of the Kingdom of Morocco, the latter recalled its ambassador to Algeria on Friday. On the other hand, the Algerian Foreign Ministry summoned its chargé d’affaires on the same day.
Meanwhile, Nasser Bourita, the Minister of Foreign Affairs and International Cooperation stated that Messahel’s comments showcase a «level of irresponsibility unprecedented in the history of bilateral relations» which «testify to a deep and inexplicable ignorance of the basic workings of the banking system and civil aviation».
The 2017 Basel AML Index
Statistically-speaking, it is important to note that the Algerian Foreign Minister’s arguments are invalid. In a report conducted by the Basel Institute for Governance, an independent not-for-profit competence center aiming at countering corruption and other financial crimes, and issued on the 16th of August 2017, Morocco has performed better that Algeria for five consecutive years when it comes to money laundering.
The latest version of the index entitled «The 2017 Basel AML», ranks Morocco 57th among 149 countries. In the list, Algeria is positioned 54th being one of the countries that has a higher risk when it comes to money laundering. More than that, data provided by the annual report suggests that Algeria has been ahead of Morocco in money-laundering activities in the past four editions issued by the Basel Institute. In 2016, Morocco was 80th in the list compared to Algeria which was ranked 51st. The same thing applies to 2015 (Morocco 86th and Algeria 41st), 2014 (Morocco 92nd and Algeria 45th), and 2013 (Morocco 59th and Algeria 39th).
According to the Basel Institute, the index issued since 2012 is a way of measuring the risk of money laundering and terrorist financing of countries based on publically-available sources. The report deemed objective and neutral is based on «14 indicators dealing with AML/CFT regulations, corruption, financial standards, political disclosure and the rule of law».
