HIBAPRESS – W.A.M.
The Moroccan Capital Market Authority presented, on Tuesday in Rabat, its priority measures for the year 2026, during a meeting that brought together the main actors in the Moroccan financial system.
In a speech on this occasion, the Chairman of the Moroccan Capital Market Authority, Tariq Senhaji, said that these priority measures are based on five main axes within the 2024-2028 strategic plan, which relate to "working to develop an efficient and easily accessible capital market" and "addressing new challenges related to financial innovation and sustainability" and "enhancing financial literacy to mobilize savings and protect investors" and "adapting the supervisory system to be compatible with a continuously developing capital market" and "continuing to work on creating a more efficient internal organization." Senhaji also highlighted the importance of this meeting, which aims to achieve a dual goal: presenting the priorities of the Moroccan Capital Market Authority for the year 2026, and enriching an open dialogue with all concerned parties. He affirmed in this regard that "the clarity of our collective work forms the basis of strong confidence, which is the cornerstone of the capital market." In discussing the achievements of 2025, the Authority's Chairman highlighted the exceptional momentum witnessed by the capital market in Morocco, noting that the securitization market has seen significant growth, with mobilized funds stabilizing at 15.5 billion dirhams, compared to 2.4 billion dirhams recorded during the previous year. He added that the collective management sector also recorded clear progress in terms of net subscriptions in collective investment undertakings for transferable securities, which reached 84.8 billion dirhams, which is almost double the level recorded in 2024. He continued that the operations of mobilizing funds in various sectors witnessed remarkable developments, as the volume of bond issuances more than doubled and the equity sector recorded an increase of about 70 percent, driven in particular by three listings on the stock exchange with a total value of 6 billion dirhams. In this regard, the volume of transactions in the central market doubled in one year, moving from 60 billion dirhams to a record level of 120 billion dirhams. The venture capital sector also witnessed, according to Senhaji, a remarkable expansion with the granting of accreditation to five new companies to manage collective capital investment undertakings, and growth in assets under management by more than 50 percent. On the organizational and institutional levels, the Chairman of the Moroccan Capital Market Authority recalled that the year 2025 was marked by the issuance of the new law on collective investment undertakings for transferable securities, and the emergence of a new market, the futures market. In parallel, the Authority strengthened market surveillance mechanisms by conducting 37 inspection missions during 2025, covering all sectors of activity. Regarding the priorities for 2026, Senhaji reviewed the details of several structured projects, explaining that the Authority will work to develop the bond market and debt funds with the aim of diversifying corporate financing, while strengthening the offer of financial solutions, especially through the futures market and the creation of new categories of collective investment undertakings for transferable securities. Senhaji pointed out that 2026 will also witness the adoption of the first cooperative financing platforms (Crowdfunding), and the progress of work related to the framing of encrypted assets, as well as accelerating the activation of the "National Strategy for Climate Finance 2030" through structured projects such as "Taxonomy." In the same context, he affirmed that in the face of the noticeable increase in the number of individual investors in the market, the Moroccan Capital Market Authority will work to strengthen its financial education program through appropriate content and channels in order to promote best practices and explain the risks associated with financial investments. He added that the modernization of supervisory mechanisms will constitute a priority axis, through enhanced monitoring operations focused on thematic tasks, intensifying work to address market violations, and reviewing the scope of supervision to better integrate emerging risks. In parallel, Senhaji noted that the Authority will accelerate the pace of its digital transformation by completing the implementation of its strategy and launching a technology-based supervision solution (Suptech), with the development of an ambitious strategy to integrate artificial intelligence into its tasks. For his part, the Chairman of the Moroccan Association of Management Companies and Investment Funds, Mustapha Hassani, highlighted the pivotal role of the asset management industry in financing the national economy. Hassani explained that collective investment undertakings for transferable securities, which manage assets of approximately 800 billion dirhams (representing about 45 percent of the national gross domestic product), effectively contribute to financing the treasury and the private sector. Furthermore, Hassani addressed the recent approval of the new law on collective investment undertakings for transferable securities, which came with several new developments, in particular the possibility of managing funds 100 percent in foreign currency. He considered that "this regulatory dynamic will enable us to keep pace with the economic momentum that Morocco is witnessing," pointing to infrastructure projects and major upcoming events, such as the World Cup, which require significant financing. The five priority measures aim to establish the foundations of an efficient and easily accessible market, with a firm commitment to keeping pace with major transformations such as sustainability, technological innovation, and financial inclusion. The publication of the priority measures of the Moroccan Capital Market Authority, which has been adopted since 2021, allows, on the one hand, to align its initiatives with market developments and the aspirations of market actors, and on the other hand, to make its measures more clear through consistent linking between the achievements that were made in 2025 and the projects planned for 2026.
