An EU's new banking directive, Directive (EU) 2024/1619, introduces stricter rules for non-EU bank branches, directly impacting Moroccan banks operating in Europe. Yabiladi outlines the changes that could affect Moroccan banking branches in the EU, from new compliance reviews and a classification system to the risk of being forced to become subsidiaries.
A report by the Government Action Observatory confirmed that the distribution and utilization of overseas Moroccans' remittances suffers from major imbalances regarding value creation and investment promotion, noting that the percentage of funds allocated to investment does not exceed 10 percent of total remittances, which are expected to reach 120 billion dirhams in 2024.
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