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Bank Al-Maghrib and Swiss SECO Forge Alliance

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Bank Al-Maghrib and Swiss SECO Forge Alliance

with MAPTuesday 19 December 2023 – 09:37

In a ceremony held on Monday in Rabat, a Memorandum of Understanding was inked between Bank Al-Maghrib (BAM, Morocco’s central bank) and the Swiss State Secretariat for Economic Affairs (SECO) to usher in the third phase of the Bilateral Assistance Program and the Strengthening of Central Banks’ Capacities (BCC).

The agreement, formalized by Bank Al-Maghrib’s Governor Abdellatif Jouahri and Swiss Ambassador to Morocco Guillaume Scheurer, underscores the BCC Program’s mission to provide nuanced technical support to Central Banks.

Its overarching objectives include fostering a robust monetary policy, promoting stability and inclusivity within the financial sector, and bolstering the resilience, sustainability, and efficacy of Central Banks’ endeavors, as per a press release from BAM.

This comprehensive initiative spans crucial domains such as the analysis and implementation of monetary policy, cutting-edge research, financial stability, inclusion strategies, payment systems, as well as the management of operational and systemic risks, along with the coordination of international collaborations.

Bank Al Maghrib

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