EBRD Lends €7.5 Mln to Tuyauto Gestamp Morocco

Lebanon:Arrest warrant against Algeria’s Sonatrach local CEO

A court in Lebanon has issued an arrest warrant against Chief of local Algerian oil company Sonatrach after the company has been accused of selling adulterated fuel and of corruption. Judge Nicolas Mansour, prosecutor of Mont-Liban court of appeal ordered the arrest of Tarek Faoual and several employees of Sonatrach Petroleum (SPC), a subsidiary of […]

Algerians take discontent to social media amid crackdown

In recent days, a powerful campaign has gained traction among Algerians on social media under the hashtag #Manish_Radi (I am not satisfied). The regime, after stifling activists and cracking down on protesters, has responded with arrests against anyone who uses the hashtag. As Algeria’s cash-handout policy reaches its limits, the participants on the hashtag shared […]

Morocco Tightens Anti-Money Laundering Rules for Offshore Holding Companies

Morocco’s Exchange Office has published a Circular, introducing new vigilance and internal monitoring obligations for offshore holding companies operating within the kingdom’s offshore financial center framework. Economy and Finance Minister Nadia Fettah signed the circular on July 23, and it took effect immediately, applying under the law on combating money laundering and the law governing […]