Author: OBG Admin

Mark Geilenkirchen-CEO-Port of Sohar

Morocco extends regional ties with Africa

Posted OBG AdminPosted in Uncategorized

A tour of West and Central Africa by Morocco’s head of state in May 2015 has underlined the country’s increasing efforts to strengthen trade and investment ties with its neighbours south of the Sahara. Morocco’s government has sought to expand the country’s economic footprint in Africa in recent years, with King Mohammed VI spearheading a number of trips to West and Central African markets. The May delegation, which also included ministers and business leaders, followed a four-nation itinerary across West Africa. Facilitating investment and increasing economic cooperation were the focus of the tour – the third such trip to the region in as many years

Emmanuel Macron-President of France

Morocco increases role for the private sector

Posted OBG AdminPosted in Uncategorized

In line with a global trend to increase private sector activity in infrastructure development, Morocco is now host to several major public-private partnership (PPP) projects, including the kingdom’s largest power station and port at Jorf Lasfar and Tanger-Med, respectively. PPP success has left the government keen to boost the number of such projects, and privately financed public infrastructure initiatives in particular, in the process expanding government services and infrastructure without upfront investment. This interest in PPPs has gained traction under a new law to enhance clarity around the regulatory framework governing contracts. Benefits While procedures vary depending on the arrangement involved, many PPP contracts require

Pham Hong Hai-CEO-HSBC Vietnam

Morocco expanding trade and investment to develop partnerships

Posted OBG AdminPosted in Uncategorized

Over the past 15 years Morocco has signed free trade agreements (FTAs) with some of the largest economies in the world. This has impacted the kingdom’s trade figures, though in some cases it has also been followed by increases in trade deficits with these partners. The next major accord Morocco is likely to sign is a Deep and Comprehensive FTA (DCFTA) with the EU that expands the existing Association Agreement (AA) to cover trade in services as well as harmonising Morocco’s trade regulatory framework with the EU. The accord has, however, faced some domestic opposition and negotiations remain on hold. The kingdom has also been

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Morocco develops new framework for sharia-compliant finance

Posted OBG AdminPosted in Uncategorized

Of all the measures included in the new banking law – which came into force in February 2015 and is designed to enhance sector stability (see overview) – those that have received the most attention have to do with developing the kingdom’s Islamic banking segment. Since 2007, Moroccan banks and insurers have been allowed to offer three Islamic products: ijara (a form of lease contract), musharaka (a profit-sharing partnership) and murabaha (a type of cost-plus financing). Yet these all remained subject to conventional banking laws, and the segment failed to get off the ground, hampered by a variety of problems, such as double taxation of

Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Large clients get the largest share of loans in Morocco

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By regional standards, Moroccan banks have substantial lending capacity. The kingdom is home to some of the largest banks in Africa: Attijarawafa Bank is the continent’s third-largest, and its three biggest banks are also the three largest in North Africa by tier-1 capital. Credit extended to the local private sector was equal to 70.1% of GDP in 2013, compared to 16.5% in Algeria and an average of 25% for developing countries in MENA (excluding the GCC), according to the World Bank, indicating its intermediation levels are high for the region. Steady falls in non-performing loans have also lifted lending capacity by reducing the need for

Pham Hong Hai-CEO-HSBC Vietnam

Morocco expanding trade and investment to develop partnerships

Posted OBG AdminPosted in Uncategorized

Over the past 15 years Morocco has signed free trade agreements (FTAs) with some of the largest economies in the world. This has impacted the kingdom’s trade figures, though in some cases it has also been followed by increases in trade deficits with these partners. The next major accord Morocco is likely to sign is a Deep and Comprehensive FTA (DCFTA) with the EU that expands the existing Association Agreement (AA) to cover trade in services as well as harmonising Morocco’s trade regulatory framework with the EU. The accord has, however, faced some domestic opposition and negotiations remain on hold. The kingdom has also been

President Abdel Fattah El Sisi

Spirit of the law: New regulations are intended to give local communities more control over project implementation

Posted OBG AdminPosted in Uncategorized

For several months, the use of local development companies (LDCs) seems to be the solution to all the evils inherent in the implementation of public projects. The city of Casablanca alone created seven of them between 2008 and 2014, with varying degrees of success and reservation, voiced mainly by locally elected representatives. However, these firms are an effective tool when certain parameters are anticipated. It is therefore important to recall their legal status and their interest in the implementation of projects. Legal Framework Applicable to

President Alassane Dramane Ouattara

Clearer legal guidelines for health care and real estate sectors in Morocco

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New rules are set to be implemented to secure infrastructure; open investments in health care assets and in hospitality assets; ease real estate transactions and financing; and rebalance sales. Investors can look forward to many new developments in the Moroccan real estate legal framework in 2014 and 2015. New Evacuation Regulations The Decree No. 2-14-499 dated October 15, 2014 is the general regulation concerning the safe construction of structures, as well as procedures intended to prevent any panic during fires or other emergencies. For example, the law stipulates preventative measures against fires by taking into consideration the materials used for construction and the design of

Attijariwafa Bank: Banking

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Attijariwafa Bank is the leading bank in Morocco in terms of outstanding loans, with a 26.1% market share, and the number two bank in terms of collected deposits, with 25.1% of the market as of December 2014. The bank operates 3265 branches in Morocco. The group also conducts business outside Morocco, having begun a regional expansion in 2005. Attijariwafa is now positioned in Tunisia, which comprises 5.4% of the group’s consolidated net income, and in nine French-speaking sub-Saharan countries, which comprise 9.7% of the group’s consolidated net income. The bank is a universal bank operating in all banking business segments: retail banking, consumer loans, mortgages

Auto Hall: Vehicles and industrial equipment

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Founded in 1920 and floated on the Casablanca Stock Exchange since 1941, Auto Hall is one of the leading Moroccan operators in the automotive equipments imports and distribution sector. The group operates in five main business segments: 1) passenger cars, where the company distributes the Ford and Mitsubishi brands and where it also operates as an agent retailer of Fiat cars in some regions of Morocco with a market share of 11%; 2) light commercial vehicles, where the company distributes Ford, Mitsubishi and Fiat cars with an estimated market share of 26%; 3) industrial vehicles, where Auto Hall is the exclusive seller of the Fuso