- The Financial Action Task Force experts' report contained positive conclusions based on their field visit to Morocco in January 2023.
- The Group appreciates our country's full fulfilment of all its obligations in combating money laundering and terrorist financing within the specified deadlines.
- The positive impact of Morocco's graduation from the grey list on its rating and negotiating position vis-à-vis international financial institutions.
- Morocco reiterates its strong commitment to continue consolidating the gains made in protecting the national financial system.
The Financial Action Task Force (GAFI) has decided, by consensus of its members, to exit the Kingdom of Morocco from the process of enhanced follow-up, or what is known as the "grey list", after evaluating the course of compatibility of the national system with international standards on combating money laundering and terrorist financing, since the adoption of the action plan for the Kingdom of Morocco by this group in February 2021, during the General Meeting of the Financial Action Task Force held in Paris, France, from 20 to 24 February 2023.
The GAFI's decision follows the positive conclusions included by the GAFI experts in their report during their field visit to our country between January 16 and 18, 2023.
The report, according to which Morocco left the grey list, praised the Kingdom's firm political commitment to harmonizing the national anti-money laundering and terrorist financing system with international standards, and for our country to fully fulfill all its obligations within the specified deadlines.
The decision to leave Morocco for the enhanced follow-up process, or what is known as the "grey list", is the culmination of the efforts and proactive measures taken by the Kingdom of Morocco in the implementation of the High Royal Directives, which included a number of legislative, regulatory, awareness-raising and supervisory measures, which were implemented by the various national authorities and institutions concerned, in coordination with the National Financial Information Authority, and in partnership with subject persons and the private sector.
Morocco's graduation from the grey list will positively affect the sovereign and local bank ratings, enhance the Kingdom's image and negotiating position vis-à-vis international financial institutions, and the confidence of foreign investors in the national economy.
In order to consolidate the gains made in recent years, the Kingdom of Morocco reiterates its strong commitment to continue strengthening the national system for combating money laundering and the financing of terrorism in line with the development of relevant international standards.