• Legal Framework

    In-depth coverage of the local legal framework for business is an integral part of OBG’s analysis. Working in partnership with a leading local law firm, we review foreign investment laws, ownership restrictions, requirements for local partners and labour laws, among other topics.
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Law No. 104-12 relating to freedom of prices and competition, instituted by Dahir (royal decree_ No. 1-14-116 on June 30, 2014, its application Decree No. 2-14-652 and Law No. 20-13 relating to the Competition Council instituted by Dahir No. 1-14-117 of June 30, 2014, are now fully in force since the publication of the list of the new...


The following laws form the basis of the Moroccan corporate legislative corpus: the Moroccan civil code, or Dahir (royal decree) des Obligations et des Contrats, of August 12, 1913; Law No. 17-95 on joint stock companies promulgated by Dahir No. 1-96-124 on August 30, 1996; and Law No. 5-96 on limited liability companies, promulgated by...


Recent legal developments in the kingdom have been marked by the reform of the pledge regime introduced by Law No. 21-18 relating to security over moveable assets, which entered into force on April 22, 2019.

Chapter | Legal Framework from The Report: Morocco 2020

This chapter introduces the reader to the different aspects of the legal system in Morocco, in partnership with Dentons Sayarh & Menjra Law Firm. It also contains a viewpoint with Omar Sayarh, Managing Partner; and Mehdi Megzari, Partner, Dentons Sayarh & Menjra Law Firm.

Morocco’s economy is poised to continue along its trajectory of economic growth, but GDP expansion rates will depend on the policy choices made by the government. Although estimates by the IMF project that annual growth rates will reach 4.5% in 2024, there is still the matter of ensuring that GDP growth translates into improving conditions across all segments of the population.


The new Companies Act promotes prudence in management, effective boardroom practice and shareholder activism. The timing of this new law is ideal as 2018 saw a string of collapsed banks, many of which experienced a breakdown in their corporate governance regime. For the first time in Ghana’s corporate governance history, an Office of the...