Morocco is intensifying negotiations with European countries to safeguard the operations of its banks in the European Union and ensure the continued flow of remittances from Moroccans living abroad, central bank governor Abdellatif Jouahri said.
After successful talks with France, Morocco plans similar negotiations with the Netherlands, Belgium, Spain and Italy, Jouahri told reporters following the quarterly board meeting earlier this week.
discussions with the European Commission and individual EU states were progressing in an “encouraging” climate, despite regulatory challenges stemming from new EU rules, he said.
The directive, in force since January 1, 2026, tightens oversight of non‑European banks operating in the bloc.
While largely designed in a post‑Brexit context, it also affects Moroccan lenders operating through subsidiaries and branches in Europe, potentially disrupting services used by the Moroccan diaspora.
Jouahri said initial contacts with Dutch authorities were positive, though negotiations may prove more complex given each EU country’s discretion in implementing the directive.
A task force combining the central bank, ministries and lenders is leading the effort, expected to continue through 2026. Jouahri said there was “no reason at this stage for concern”.
