HIBAPRESS – MAP
The topic of "Protecting Personal Data in the Service of the Financial Sector" was the focus of a meeting held Tuesday in Marrakech, with the participation of heads and managers of personal data protection bodies in Africa, as well as experts and specialists in the field.
This meeting, organized by the National Commission for the Control of the Protection of Personal Data on the sidelines of the Africa Payment Technology Expo, enabled a discussion between regulators and innovators to identify the new features of a financial system that is efficient, secure, and respects the rights of individuals.
The meeting provided an opportunity for experts to share their views on current topics such as data protection since its inception, "blockchain" technology, the launch of financial technology, and open banking services, which are innovations that have redefined financial services today, creating new opportunities, and posing significant and unprecedented challenges related to the protection of personal data.
The meeting also enabled a discussion of the issue of the balance between innovation and the fundamental right to protect private life, as well as the means to make digital trust a real driver for the financial sector of tomorrow.
The President of the National Commission for the Control of the Protection of Personal Data, Omar Essghrouchni, confirmed in a speech on the occasion that regional cooperation has become necessary for the effective protection of personal data in Africa, calling on data protection bodies to establish practical mechanisms for cooperation and information exchange at the continental level.
In this context, he expressed his satisfaction that the protection of personal data has become a real priority in Africa, highlighting the need to consider new developments and adapt to them, and to manage the protection of personal data in light of new contexts and uses.
After pointing out that the African continent has made great progress today in the field of data protection, Mr. Essghrouchni noted that the protection of personal data has now become an essential element in the field of competitiveness and a driver for development, highlighting that the National Commission for the Control of the Protection of Personal Data intends to organize a meeting soon on algorithmic transparency, as it is a fundamental concept for studying recent developments in the field of artificial intelligence and automated mechanisms.
For his part, the specialist in "blockchain" technology, Badr Bellaj, confirmed that this technology offers great advantages in the field of personal data protection thanks to its decentralized structure.
The expert explained that unlike traditional centralized systems in which information is stored on a single server vulnerable to cyberattacks, "blockchain" technology distributes data across a network of nodes, which significantly reduces the risks of hacking, forgery, or the complete loss of data.
For his part, the specialist in digital transformation and artificial intelligence, Salah Bayna, addressed the concept of "open banking services," which is an important development in the financial sector by enhancing innovation, competition, and improving the services provided to users.
He explained that this technology, by enabling the secure sharing of bank data with the express consent of customers, opens the door to new digital solutions, such as the smart management of personal financial resources, instant payment, and customized loan offers.
As for the expert in financial technology, Nasser Kettani, he addressed the aspect related to the responsibility of financial technology for big data, highlighting that "data protection has become a bet linked to justice, trust, and societal resilience."
At the conclusion of this meeting, several recommendations were adopted, calling for the development of a model for action to unify laws and to adopt a model that enables personal data protection bodies in Africa to develop.
These recommendations stated that "the legal dimension of protecting the individual will remain in place and will not be abandoned, but will be enhanced through the development of the data economy, through the development of economic impact, in addition to protecting data at the state and societal levels."
The recommendations also included the competencies that must be formed, which should combine legal, organizational, managerial, and technical competencies.
The participants also agreed to carry out awareness, communication, clarification, and training activities.
