Morocco’s Coordination and Systemic Risk Monitoring Committee (CCSRS) concluded its final assessment of the previous financial stability roadmap and approved a new roadmap intended to strengthen the national financial stability framework. The plan is structured around five pillars covering institutional and legal foundations, analytical capabilities, macroprudential tools, resolution and crisis management, and financial-stability communications. The systemic risk map and the monthly sub-committee’s holistic review pointed to a domestic macroeconomic baseline of faster growth and gradually rising inflation over the projection horizon, alongside contained external and fiscal deficits. In the financial sector, banks’ liquidity needs are projected to widen to MAD 132.1 billion in 2025 and MAD 158 billion in 2027, while credit to the non-financial sector is expected to accelerate; the non-performing loans ratio remains elevated at 8.7% at end-September 2025 with a provisioning ratio of 69%. Banking profitability and capital buffers were described as strengthening, with corporate-basis net income up 25% at end-June 2025 and average Tier 1 and total capital ratios at 13.8% and 16.4% respectively, above regulatory minimums. The update also noted resilience in financial market infrastructures, solid insurance-sector trends, and continued momentum in capital markets, including a 28.2% annual rise in the MASI index and a 38% increase in market capitalisation to MAD 1,039.7 billion as of 22 December 2025. The Committee was also briefed on the official launch of the MENAFATF mutual assessment process for Morocco’s AML/CFT framework, scheduled to start in November 2026, and took note of progress in implementing the financial-sector roadmap under the national AML/CFT strategy led by the ANRF.
Moroccan Capital Markets Authority 2025-12-23
Morocco’s Coordination and Systemic Risk Monitoring Committee approves a new financial stability roadmap
Morocco’s Coordination and Systemic Risk Monitoring Committee approved a financial stability roadmap focusing on institutional foundations, analytical capabilities, macroprudential tools, crisis management, and communications. The financial sector shows widening bank liquidity needs, accelerating credit, and an 8.7% non-performing loans ratio as of September 2025. Banking profitability and capital buffers are strengthening, with a 25% increase in net income and capital ratios above regulatory minimums, while the MASI index rose 28.2% annually.