In Morocco, the regulatory framework for banking and financial services is comprised of a combination of laws, decrees, orders, regulations, and regulatory rules and guidance. Morocco, not being a member of the European Union, does not directly implement EU law; however, in an effort to modernize its financial system and encourage investment, Morocco often aligns some of its regulatory practices with international standards, including those influenced by the EU in areas such as anti-money laundering and combating the financing of terrorism, as well as banking and financial services regulation.

The main regulatory rules governing the banking and financial sector can be found in the following:

• Law No. 103-12 on banking institutions and similar bodies (Banking Law), which governs the activities of banks and credit institutions, outlining licensing requirements, the scope of permissible activities, and prudential regulations
• Law No. 43-05 on Money laundering prevention (Anti-Money Laundering Law), which establishes the legal framework for combating money laundering and the financing of terrorism, including the obligations of financial institutions to report suspicious transactions
• Law No. 19-14 on the stock exchange, brokerage companies and financial investment advisers
• Law No. 42-12 on the futures market in financial instruments
• Law No. 44-12 relating to public offerings of securities and the information required from legal entities and bodies making public offerings of securities, as amended and supplemented by Law No. 19-14
• Law No. 33-06 on asset securitization
• Law No. 70-14 relating to property investment funds
• Law No. 41-05 relating to undertakings for collective investment in capital

In addition, the Ministry of Economy and Finance, BAM and the AMMC can provide more detailed rules and procedures for the implementation of the laws:

• The Ministry of Economy and Finance issues decrees on financial reporting, governance and other aspects of financial institution operations.
• BAM provides circulars on prudential requirements for banks and similar bodies, including capital adequacy, liquidity and risk management.
• AMMC publishes circulars and decisions providing guidance on securities market operations, including listing requirements, disclosure obligations, and market conduct rules.