bank al maghrib

Former Comoro Islands President faces life imprisonment for high treason

Ahmed Abdallah Sambi, former President of Comoro Islands, could receive life in prison sentence after Comorian Government Commissioner to the State Security Court requested Thursday the condemnation against him during his trial for high treason. Sambi who ruled the African country between 2006 and 2011 has been since Monday in the box on charges of […]

Morocco to introduce secondary market for non-performing loans

Morocco’s central bank has prepared a draft law that would set up a secondary market in which non-performing loans, currently at 9.8 billion dollars, can be sold, in a move that will boost banks’ liquidity. The news was announced by director general of the central bank, Bank Al Maghrib, Abderrahim Bouazza, who said non-performing loans […]

Where is the money? — Tanzania misused billions of covid-19 funds

After first denying the covid-19 crisis, Tanzania is now unable to account fully for aid received from abroad, as the country’s controller and auditor general has found irregularities of more than $1.6 billion in the funds allotted for the country’s Covid-19 socioeconomic recovery and response (TCRP) plan. The audit report of Tanzania’s controller and auditor […]