Kingdom of Morocco : Financial Sector Assessment Update

A joint World Bank and International Monetary Fund team visited Morocco in November 2007 at the request of the authorities to update the analysis and recommendations made in the framework of the Financial Sector Assessment Program (FSAP) in 2002 and to assist the authorities in preparing their medium-term strategy for modernizing financial intermediation in Morocco. This Financial Sector Assessment (FSA) summarizes the following main topics: (i) analysis of the progress made by the Moroccan authorities in implementing the recommendations of the 2002 FSAP; (ii) identification of potential risks in the financial sector that could have macroeconomic repercussions or could hamper the development oft he financial system; (iii) assessment of the stability of the financial system and its capacity to manage the risks resulting from the policy of openness, and the system's resistance to these shocks; (iv) review of the authorities' initiatives to increase the rate of bank penetration and improve access to financial services; and (v) assessment of the degree of compliance with the Basel Committee core principles for Effective Banking Supervision (BCP) and with the core principles of the International Association of Insurance Supervisors (IAIS). This report also discussed with the authorities the main points of the capital market surveillance assessment prepared in 2006 by International Organization of Securities Commission (IOSCO), the evaluation by the Arab Initiative for payments and securities settlement systems in 2007, and the MENAFATF assessment of compliance with the Financial Action Task Force on Money Laundering (FATF's) Anti Money Laundering and Combating the Financing of Terrorist (AML-CFT) recommendations in 2007.

Bibliographic Details

Main Author:	World Bank
Format:	Financial Sector Assessment Program (FSAP) biblioteca
Language:	English en_US
Published:	Washington, DC 2008-09
Subjects:	ACCESS TO BANK, ACCESS TO FINANCIAL SERVICES, ACCESS TO FINANCING, ACCOUNTABILITY, ACCOUNTABILITY STRUCTURES, ACCOUNTING, ACCOUNTING SYSTEMS, ASSET QUALITY, AUCTIONS, AUDITS, BALANCE SHEET, BALANCE SHEETS, BANK ACCOUNT, BANK ACCOUNTS, BANK ASSETS, BANK BRANCHES, BANK CREDIT, BANK CREDITS, BANK FINANCING, BANK LIQUIDITY, BANK RESTRUCTURING, BANKING LAW, BANKING SECTOR, BANKING SECTOR ASSETS, BANKING SERVICES, BANKING SUPERVISION, BANKING SYSTEM, BOND ISSUES, BOURSE, BROKERS, CAPITAL ACCOUNT, CAPITAL ACCOUNT LIBERALIZATION, CAPITAL ADEQUACY, CAPITAL FLOWS, CAPITAL INFLOWS, CAPITAL MARKET, CAPITAL MARKET FINANCING, CAPITAL MARKET SUPERVISION, CAPITAL MARKETS, CAPITALIZATION, CASH TRANSACTIONS, CENTRAL BANK, CHECKS, COLLATERAL, COMMERCIAL BANKS, COMMERCIAL CODE, CONSOLIDATION, CONSUMER CREDIT, CONTRACTUAL SAVINGS, CORPORATE GOVERNANCE, CREDIBILITY, CREDIT BUREAU, CREDIT INFORMATION, CREDIT INSTITUTIONS, CREDIT RISK, CREDIT RISKS, CREDITORS, CURRENCY EARNINGS, DEBT, DEBT MARKET, DEBT MARKETS, DEMAND FOR CREDIT, DEPOSIT, DEPOSIT INSURANCE, DEPOSITOR, DEPOSITORS, DIRECT INVESTMENT, DOMESTIC EQUITY, ECONOMIC POLICIES, EFFICIENT MARKET, EMERGING MARKET, EMERGING MARKET COUNTRIES, EQUITY MARKET, EXCHANGE RATE, EXTERNAL DEBT, FACTORING, FEE INCOME, FINANCIAL CONGLOMERATES, FINANCIAL DEEPENING, FINANCIAL INFORMATION, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FINANCIAL INTERMEDIARIES, FINANCIAL INTERMEDIATION, FINANCIAL MARKETS, FINANCIAL OPENNESS, FINANCIAL REGULATORS, FINANCIAL RESTRUCTURING, FINANCIAL SECTOR ASSESSMENT, FINANCIAL SERVICES, FINANCIAL STATEMENTS, FINANCIAL SYSTEM, FINANCIAL TRANSACTIONS, FISCAL AUTONOMY, FIXED INCOME, FLEXIBLE EXCHANGE RATE, FOREIGN CURRENCY, FOREIGN EXCHANGE, GOVERNMENT PAPER, GOVERNMENT SECURITIES, GUARANTEE FUND, HOLDING, HOUSING, INFLATION, INSTITUTIONAL INVESTORS, INSTRUMENT, INSURANCE, INSURANCE COMPANIES, INSURANCE MARKET, INTEREST INCOME, INTEREST RATE, INTEREST RATE POLICIES, INTEREST RATE RISK, INTEREST RATES, INTERNAL CONTROLS, INTERNATIONAL STANDARDS, INVESTMENT OPPORTUNITIES, INVESTMENTS IN GOVERNMENT SECURITIES, IRREGULAR INCOMES, LAWS, LEGAL FRAMEWORK, LEGISLATION, LENDER, LIQUIDATION, LIQUIDITY, LIQUIDITY MANAGEMENT, LIQUIDITY RATIOS, LIQUIDITY RISK, LOAN, LOAN AMOUNT, LOAN PORTFOLIO, LOAN PORTFOLIOS, LOCAL MARKET, MACROECONOMIC CONDITIONS, MACROECONOMIC ENVIRONMENT, MACROECONOMIC POLICIES, MARKET ACCESS, MARKET CONDITIONS, MARKET DEPTH, MARKET FOR TREASURY SECURITIES, MARKET RISK, MARKET SHARE, MARKET SUPERVISION, MARKET SURVEILLANCE, MARKET-MAKING, MATURITIES, MICROCREDIT, MICROFINANCE, MICROFINANCE INSTITUTIONS, MINORITY SHAREHOLDERS, MONETARY AUTHORITIES, MONETARY FUND, MONETARY POLICY, MONEY MARKET, MORAL HAZARD, MORTGAGE, MORTGAGES, MUTUAL FUNDS, NEW ENTRANTS, NONBANK FINANCIAL INSTITUTIONS, NONPERFORMING LOANS, OFFSHORE BANKS, OPEN ECONOMY, OPERATING EXPENSES, PAYMENT SYSTEM, PAYMENT SYSTEMS, PENALTIES, PENSION, PENSION FUND, PENSION FUND ASSETS, PENSION FUNDS, PENSION SYSTEMS, PORTFOLIO, PRIMARY MARKET, PRIVATE BANKS, PRIVATE SECTOR CREDIT, PROBLEM BANKS, PROFITABILITY, PROPERTY OWNERSHIP, PRUDENTIAL STANDARDS, PRUDENTIAL SUPERVISION, PUBLIC BANKS, PUBLIC SECTOR BANK, PUBLIC SECTOR BOND, RATING SYSTEMS, REAL SECTOR, REGULATORY FRAMEWORK, RETAIL BANKING, RETURN, RETURN ON EQUITY, RISK MANAGEMENT, RISK MANAGEMENT TOOLS, SECONDARY MARKET, SECONDARY MARKET ACTIVITY, SECURITIES, SECURITIES MARKET, SETTLEMENT, SETTLEMENT PERIODS, SETTLEMENT STRUCTURES, SETTLEMENT SYSTEM, SETTLEMENT SYSTEMS, SHORT-TERM DEPOSITS, SMALL SAVERS, SOLVENCY, SPECIALIZED BANKS, STOCK EXCHANGE, STOCK MARKET, STOCK MARKET CAPITALIZATION, STOCKS, TAX, TERRORISM, TIER 1 CAPITAL, TIME DEPOSITS, TRANSACTION, TRANSACTION COSTS, TRANSFER RISK, TRANSPARENCY, TREASURY, TREASURY BILLS, TURNOVER, WITHDRAWAL, YIELD CURVE,
Online Access:	http://documents.worldbank.org/curated/en/2008/09/9857831/morocco-financial-sector-assessment-update http://hdl.handle.net/10986/8091
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