First Independent Mena Newspaper
Morocco has failed once again to get out of the EU’s tax haven grey list, although it took a number of measures and enacted new laws, the most recent of which is the reform of the tax system of the Casablanca Finance city. According to the EU’s updated list released Tuesday October 6, Morocco […]
The International Monetary Fund (IMF) approved this week new emergency aid for 28 of the world’s poorest countries, 22 of which being Africa, to help them alleviate their debt and better cope with the impact of the coronavirus pandemic. This second six-month tranche of debt service relief for 28 member countries under the Catastrophe […]
A United Nations report, issued this week, said that illicit financial flows out of Morocco amounted to about 16.6 billion dollars during the years 2013-2014. This came in a report by the United Nations Conference on Trade and Development (UNCTAD), which revealed that the African continent loses about 88.6 billion dollars annually due to […]
Morocco and the United States signed this Friday, October 2, in Rabat a defense agreement, described as historic on both sides. The agreement, entitled “Roadmap for 2020-2030 defense cooperation between the Kingdom of Morocco and the United States of America”, was signed during the visit to Morocco by US Secretary of Defense Mark Esper. The […]
To help tourism sector recover quickly from the impact of Covid-19, Moroccan authorities decided on Thursday to ease covid-19 entry requirements for international travelers. Starting October 1st, foreign visitors will have to show a negative PRC test taken in the last 72 hours instead of 48 hours required previously before arriving in the country. The […]
Moroccan private sector will benefit from two green investments totaling €253 million provided by the European Bank for Reconstruction and Development (EBRD), the European Union (EU), the Green Climate Fund (GCF) and South Korea. Thanks to this financial support, local businesses will be able to acquire green technology and become more competitive, contributing thus to […]
Egypt has approved a financing request of about $191 million by national carrier EgyptAir to be used to pay external debt. The Central Bank of Egypt will release the funds in the form of loan, state-run Ahram online reports. EgyptAir, which resumed flying from July 1st after several months of hiatus due to the coronavirus […]
Attijariwafa bank Egypt has entered into partnership with U.S-based MoneyGram International in view of supporting the Arab country’s financial inclusion policy, Arab Finance reports. The Moroccan bank in a statement said with the new partnership, MoneyGram’s clients worldwide will be able to transfer remittances to be received at any of its 65 branches in Egypt. […]
Finance Minister Mohamed Benchaaboun said the economic impact of the coronavirus will continue to reverberate in 2021 as the government faces prospects of a sharp drop in revenue and higher spending. Tax revenue is expected to fall by 25 billion dirhams while additional spending should be mobilized to fund social landmark projects such as the […]
Casablanca Finance City (CFC) has been ranked 46th in the 2020 Global Financial Centre Index (GFCI) which evaluates the competitiveness and performance of world leading financial centers. Last year, CFC was ranked 41th among the global financial hubs. Although it dropped this year five places due to several regional and international factors, Casablanca remains the […]