The Moroccan Capital Markets Authority published a press release on the twenty-third meeting of the Coordination and Systemic Risk Monitoring Committee, which approved the 2025 Financial Stability Report, reviewed progress on the 2026-2030 financial stability roadmap and assessed systemic risk conditions. The committee concluded that Morocco’s financial system remains resilient, supported by solid fundamentals and overall comfortable prudential margins. The assessment combined a macroeconomic review with sector findings. National growth rose to 4.9 percent in 2025 and Bank Al-Maghrib projects 5.2 percent in 2026 before a slowdown to 3.1 percent in 2027, while inflation remained low at 0.8 percent in 2025 and is projected at 1.5 percent in 2026 and 2.1 percent in 2027. In banking, loans to the non-financial sector increased 6.5 percent in 2025, the non-performing loan ratio edged down to 8.3 percent and average solvency and Tier 1 ratios stood at 16.1 percent and 13.5 percent, with stress tests indicating resilience under severe shocks. The committee also highlighted strong resilience in financial market infrastructures, continued expansion and stronger solvency in insurance, persistent structural imbalances in public pension schemes despite some improvement in indicators, and mixed capital market conditions, with equity market consolidation in the first half of 2026, sustained bond issuance and continued growth in collective investment vehicles and retail investor participation. It also noted progress in anti-money laundering and counterterrorist financing work, while calling for continued efforts ahead of the next MENAFATF mutual evaluation cycle. Alongside the meeting, Bank Al-Maghrib, the Moroccan Capital Markets Authority and the Supervisory Authority of Insurance and Social Welfare signed a new data exchange agreement updating their 2014 arrangement. The agreement is intended to strengthen information sharing needed for their financial stability mandates.
Moroccan Capital Markets Authority2026-07-07
Moroccan Capital Markets Authority reports systemic risk committee approval of 2025 Financial Stability Report and new data sharing pact
The Moroccan Capital Markets Authority said the Coordination and Systemic Risk Monitoring Committee approved the 2025 Financial Stability Report and found Morocco’s financial system remains resilient with comfortable prudential margins. The committee pointed to solid bank capital and liquidity, resilient financial market infrastructures and stronger insurance sector solvency, while also noting continued pension sector imbalances and equity market consolidation in early 2026. Bank Al-Maghrib, the Moroccan Capital Markets Authority and ACAPS also signed an updated data sharing agreement.