Moroccan, Russian Central Banks Sign MoU to upgrade cooperation

Morocco’s central bank (Bank Al-Maghrib) and Bank of Russia (Central Bank of the Russian Federation) have signed a memorandum of understanding (MoU) aimed at improving and strengthening cooperation between the two Institutions.

The agreement covers the exchange of information and expertise in several areas, including developing and implementing monetary policy. It also covers macroprudential policy, safeguarding financial stability and developing systems and means of payment, the two banks say in a joint press release.

The MoU, which aims to develop and implement financial inclusion strategies, also covers the areas related to anti-money laundering and countering the financing of terrorism.

The agreement was signed by Wali of Bank Al-Maghrib, Abdellatif Jouahri, and the Governor of Bank of Russia, Elvira Nabiullina.