Hibapress
The issue of the automatic transferability of outstanding debts has now been resolved, announced Tuesday in Rabat, the Wali of Bank Al-Maghrib (BAM), Abdellatif Jouahri.
“The project is finalized and will soon be sent to the Head of Government so that it can be included in the adoption process,” said Mr. Jouahri during a press briefing following the third quarterly meeting of the BAM Council for the year 2024.
This project, the fruit of three years of hard work, is the result of a long-term effort that has successfully concluded, he said, noting that the last meetings concerning the non-performing debt market have been finalized.
These meetings, held at the General Secretariat of the Government, involved the various stakeholders, including the judiciary, the Ministry of Commerce and Industry, as well as the Ministry of Economy and Finance, Mr. Jouahri said.
According to Bank Al-Maghrib (BAM), bad debts stood at 94.8 billion dirhams (MMDH) in 2023, up 6.7% compared to a year earlier, with a loss rate of 8.5%.
