Rabat: Governor of Bank Al-Maghrib Abdellatif Jouahri expressed confidence on Tuesday in Rabat regarding ongoing operations of Moroccan banks in Europe, following the agreement reached with France on the implementation of the European CRD VI directive. Approved by the European Commission, this agreement allows Moroccan institutions to continue their relay operations with their clients living in the European Union (EU) with no major difficulties, despite tightened regulatory framework applicable to non-European banks, Jouahri explained during a press briefing following the first quarterly meeting of the BAM Board for 2026.

According to Agence Marocaine De Presse, the agreement with France is a significant milestone that enables Moroccan banks to maintain intermediary operations with relative ease. Jouahri highlighted the importance of this achievement, noting its potential influence on banking operations in other European countries. The discussions, led by the Ministry of Foreign Affairs, African Cooperation, and Moroccan Expatriates, are part of a broader effort to ensure Moroccan banks’ seamless operations across Europe.

The task force’s initiatives include ongoing discussions with the Netherlands and Belgium, with plans to initiate talks with Spain and Italy shortly. These efforts aim to solidify the presence and operational capabilities of Moroccan banks within the EU, ensuring they can continue to serve Moroccan expatriates effectively.

In addition to banking operations, Jouahri addressed the progress on the e-dirham, indicating that work is in progress with a medium-term horizon likely to exceed five years. The focus remains on reducing cash usage while promoting mobile payments and advancing digitization efforts.

On the economic front, Jouahri provided insights into Morocco’s inflationary prospects, projecting that the inflation rate should remain within expected levels over the next three months, despite uncertainties in the global environment.