Latest news with #MoroccansResidingAbroad
Ya Biladi
14 hours ago
- Business
- Ya Biladi
Moroccan banks seek EU agreement to continue services for Moroccans abroad
A meeting with the French Treasury is scheduled for July to finalize an agreement on the implementation of the European CRD VI directive, which prohibits foreign banks not established in the European Union (EU) from directly offering home-country banking services to clients residing in EU countries, announced Abdellatif Jouahri, Governor of Bank Al-Maghrib (BAM), on Tuesday in Rabat during a press briefing following BAM's second quarterly board meeting of 2025. Once validated by the European Commission, this agreement would open the door to discussions with other affected EU countries, particularly Spain, Belgium, the Netherlands, and Italy, to allow Moroccan banks to continue serving Moroccans living abroad and their families in Morocco, Jouahri said. He also recalled that a task force has been set up, bringing together the Ministry of Foreign Affairs, African Cooperation and Moroccans Living Abroad, the Ministry of Economy and Finance, BAM, and Moroccan banks, to defend Morocco's national interests. This team has intensified discussions with the European Commission, particularly with the department overseeing the matter, and engaged in detailed talks with the French Treasury, helping to clarify the strategic importance of this activity for Morocco, especially in terms of its balance of payments, he added. In this context, Jouahri noted that forecasts for remittances from Moroccans Residing Abroad (MRE) point to a slight decline in 2025, followed by a recovery in 2026. By then, the entire process, including clarifications and adjustments related to this banking activity, is expected to be finalized. Regarding monetary policy, Jouahri said that in light of inflation trends aligning with medium-term price stability goals, strong growth in the non-agricultural sectors, and anchored expectations, the board decided, given significant uncertainty in the outlook, to keep the key interest rate unchanged at 2.25%. The council will continue to closely monitor the transmission of recent rate cuts, particularly their impact on financing conditions for very small, small, and medium-sized enterprises (TPMEs), and will base future decisions on the latest available data.
Ya Biladi
4 days ago
- Politics
- Ya Biladi
France : New Moroccan consulate opens in Mantes-la-Jolie
A new Moroccan Consulate General was officially inaugurated on Friday in Mantes-la-Jolie, in the Paris region, further strengthening Morocco's consular network in France, which now includes 17 consulates. This opening is part of a broader strategy focused on proximity, modernization, and efficiency to better serve Moroccan nationals abroad. The new consulate is the result of an initiative by the Ministry of Foreign Affairs, African Cooperation, and Moroccans Residing Abroad, aimed at addressing the needs of a large and active diaspora deeply connected to their country of origin. The inauguration ceremony—covering three departments in the Île-de-France region: Yvelines, Seine-Maritime, and Eure, home to nearly 156,000 Moroccans—was attended by Ambassador Samira Sitail; Fouad Kadmiri, Director of Consular and Social Affairs at the Ministry; and Mustapha El Bouazzaoui, Consul General of Morocco in Mantes-la-Jolie. French officials were also present, including the Prefect of Yvelines, Frédéric Rose; President of the Yvelines Departmental Council, Pierre Bédier; and the Mayor of Mantes-la-Jolie, Raphaël Cognet, along with numerous local elected officials, institutional representatives, and members of the Moroccan community from the covered departments. In her speech, Ambassador Sitail welcomed the opening, calling it a «source of pride and connection with Morocco» for the Moroccan communities in the three departments. She also praised the support of «our French friends» and their role in bringing the project to fruition. Fouad Kadmiri noted that the inauguration coincides with the launch of the Marhaba operation, as many Moroccans prepare to return home for the summer holidays, adding that the new consulate «comes at an opportune time to help the entire consular network rise to the occasion». For his part, Consul General Mustapha El Bouazzaoui said the consulate—which brings the total number of Moroccan consulates in Île-de-France to six—will be operational starting Monday. He noted it responds to a long-standing demand from Moroccans in Yvelines, Seine-Maritime, and Eure, with over 780 appointment requests already registered through the dedicated application.
Ya Biladi
4 days ago
- Politics
- Ya Biladi
France : New Moroccan consulate opens in Mantes-la-Jolie
A new Moroccan Consulate General was officially inaugurated on Friday in Mantes-la-Jolie, in the Paris region, further strengthening Morocco's consular network in France, which now includes 17 consulates. This opening is part of a broader strategy focused on proximity, modernization, and efficiency to better serve Moroccan nationals abroad. The new consulate is the result of an initiative by the Ministry of Foreign Affairs, African Cooperation, and Moroccans Residing Abroad, aimed at addressing the needs of a large and active diaspora deeply connected to their country of origin. The inauguration ceremony—covering three departments in the Île-de-France region: Yvelines, Seine-Maritime, and Eure, home to nearly 156,000 Moroccans—was attended by Ambassador Samira Sitail; Fouad Kadmiri, Director of Consular and Social Affairs at the Ministry; and Mustapha El Bouazzaoui, Consul General of Morocco in Mantes-la-Jolie. French officials were also present, including the Prefect of Yvelines, Frédéric Rose; President of the Yvelines Departmental Council, Pierre Bédier; and the Mayor of Mantes-la-Jolie, Raphaël Cognet, along with numerous local elected officials, institutional representatives, and members of the Moroccan community from the covered departments. In her speech, Ambassador Sitail welcomed the opening, calling it a «source of pride and connection with Morocco» for the Moroccan communities in the three departments. She also praised the support of «our French friends» and their role in bringing the project to fruition. Fouad Kadmiri noted that the inauguration coincides with the launch of the Marhaba operation, as many Moroccans prepare to return home for the summer holidays, adding that the new consulate «comes at an opportune time to help the entire consular network rise to the occasion». For his part, Consul General Mustapha El Bouazzaoui said the consulate—which brings the total number of Moroccan consulates in Île-de-France to six—will be operational starting Monday. He noted it responds to a long-standing demand from Moroccans in Yvelines, Seine-Maritime, and Eure, with over 780 appointment requests already registered through the dedicated application.
