2023-12-20 00:32:00
Bank Al Maghrib in Casablanca. Credit: Imaginium Agency / Le Desk
Bank Al-Maghrib (BAM) plans to increase its green foreign exchange reserves by 8%, currently estimated at $200 million, Central Bank Governor Abdellatif Jouahri said Tuesday in Rabat.
During a press briefing held at the end of the fourth and final quarterly meeting of the BAM Board for the year 2023, Jouahri highlighted BAM’s commitment to integrating environmental concerns into its financial strategies. .
Thus, Jouahri addressed the need for the Moroccan banking system to integrate climate change and green credit into its operations, implying an improvement in risk mapping to facilitate the work of banks in this area.
Abdellatif Jouahri also noted the need to prepare for possible trade barriers imposed by importing countries on products that do not meet environmental criteria, thus emphasizing the importance of green investments and preparation for change in the banking sector. Moroccan.
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