The founding members of the Morocco Fintech Center (MFC) held the constituent general assembly of this association on Wednesday in Rabat, with the primary goal of establishing a one-stop shop for fintechs.

On the same day, the members held the first board meeting of the MFC under the chairmanship of the Wali of Bank Al-Maghrib (BAM), Abdellatif Jouahri, during which Mustapha Lahlali was appointed executive director of the association, according to a statement from BAM

Additionally, the council appointed the representatives of the members who will join the monitoring committee responsible for assisting the executive director in fulfilling their duties, according to the same source. The council also outlined its priority actions, budget, and member contributions.

In this context, the council members committed to joining efforts to accelerate the development of a national fintech ecosystem open to the regional and international environment.

The founding members of the MFC include the Ministry of Economy and Finance, represented by Nadia Fettah Alaoui; the Ministry of Digital Transformation and Administrative Reform, represented by Amal El Fallah Seghrouchni; BAM, represented by Abdellatif Jouahri; the Moroccan Capital Market Authority, represented by Nezha Hayat; the Insurance and Social Welfare Supervisory Authority, represented by Abderrahim Chaffai; and the Mohammed VI Investment Fund, represented by Badr Belkadi.

TAMWILCOM, represented by Hicham Zanati Serghini; the Digital Development Agency, represented by Sidi Mohammed Drissi Melyani; Al Akhawayn University, represented by Amine Bensaid; Mohammed VI Polytechnic University, represented by Khalid Baddou; Attijariwafa Bank, represented by Mohamed El Kettani; Banque Centrale Populaire, represented by Naziha Belkeziz; Bank of Africa, represented by Mounir Kabbaj; CDG Invest, represented by Yassine Haddaoui; and HPS, represented by Mohamed Horani, are also part of the initiative.

Moreover, the general assembly approved that other entities may join the association, according to the statement.

The MFC aims to establish a one-stop shop for fintechs, support their development through programs for mentorship, incubation, acceleration, and skills development, as well as facilitate understanding of the regulatory environment and access to financing. It also seeks to promote a collaborative fintech ecosystem that fosters partnerships and networking opportunities while encouraging research and development in financial innovation.

Article source: lobservateur