The group welcomes the fact that the Kingdom has fully implemented its commitments to combat money laundering and the financing of terrorism within the established deadlines. A positive impact is expected on the sovereign rating and positioning during negotiations with international financial institutions.
The Financial Action Task Force (FATF) has decided, unanimously among its members, to withdraw the Kingdom of Morocco from the enhanced supervision process, known as the "grey list", after evaluating the conformity of the national system with international standards. related to the fight against money laundering and the financing of terrorism, and this, since the adoption by the FATF, in February 2021, of the specific action plan for the Kingdom of Morocco. This decision was made at the FATF General Assembly, held in Paris, France, from February 20 to 24, 2023.
This decision by the FATF follows the positive conclusions contained in the report of the group's experts, sanctioning the field visit carried out in our country from January 16 to 18, 2023.
This report, under which Morocco has been removed from the gray list, welcomed the Kingdom's formal political commitment to the conformity of the national mechanism to combat money laundering and the financing of terrorism with international standards, as well as the full compliance by our country with all its commitments within the established deadlines.
The decision to withdraw Morocco from the enhanced monitoring process, known as the "grey list", is the culmination of the efforts and proactive actions of the Kingdom of Morocco, in application of the Royal High Directives, which have involved a battery of legislative measures, organizational, awareness-raising and monitoring measures, applied by the different national authorities and institutions concerned, under the coordination of the National Financial Information Authority, in collaboration with legal entities under public or private law.
Morocco's exit from the gray list will have a positive impact on sovereign and local bank ratings, in addition to reinforcing the Kingdom's image and its positioning in negotiations with international financial institutions, as well as the confidence of foreign investors in the national economy.
In order to consolidate the achievements of recent years, the Kingdom of Morocco reiterates its firm commitment to continue strengthening the national mechanism to combat money laundering and the financing of terrorism, in accordance with the evolution of international standards in the matter, and emphasizes that this commitment now has a strategic and institutional nature aimed at preserving the national financial system against the dangers of financial crimes.