Morocco has two main regulators responsible for the authorization and supervision of banks and other financial institutions. These are the Bank Al-Maghrib (BAM) and the Moroccan Capital Market Authority (Autorité Marocaine du Marché des Capitaux or AMMC). The allocation of responsibilities between the BAM and the AMMC is as follows:

• BAM is the principal regulator of the banking sector. It is responsible for the prudential regulation and supervision of banks and credit institutions. This includes ensuring the solvency and liquidity of these institutions, overseeing their management and governance practices, and monitoring their compliance with banking regulations. BAM also plays a crucial role in the implementation of monetary policy, management of foreign reserves, and ensuring the stability of the financial system.

  BAM ensures that the banking system operates efficiently and that the laws and regulations governing the operation and supervision of banks and similar institutions are complied with.



• AMMC regulates and supervises the capital markets in Morocco. Its responsibilities include:

• Ensuring the protection of savings invested in financial instruments
• Ensuring equal treatment of investors, transparency and integrity of the capital markets, and of the accuracy and completeness of information provided to investors
• Ensuring proper functioning of the capital markets and ensuring the implementation of legislative and regulatory provisions
• Ensuring control of the activity of different organizations and persons subject to its control
• Ensuring compliance with laws and regulations related to the fight against money laundering by individuals and institutions subject to its control
• Contributing to promoting financial education
• Assisting the government in the regulation of the capital market