The BMCE Bank launches the Road Show:
Following the new reform for the liberation of the exchange rate regime in Morocco, the BMCE Bank is organizing a Road Show "The Mornings of the Exchange Market" across all regions of the Kingdom for the benefit of the importing and exporting companies from all sectors. This approach aims to contribute to the efforts of the supervisory authorities to present the stakes of the exchange rate regime's reform and to popularize the hedging instruments against the risk of the currency fluctuations. In this direction, the experts of the BMCE Bank and its investment bank, the BMCE Capital, organized, in Tangier on Wednesday the 1st of March 2017, a conference under the theme "The evolution of the Moroccan Exchange Market: Impacts and Prospects". The conference focused on the different changes that the Moroccan exchange market will experience in 2017 and the goals and the prerequisites for a move towards a flexible exchange rate regime.
The Guest Editor: Harraj advocates the profitable growth:
He assumed several responsibilities in various sectors before landing in the insurance field in February 2015. "I feel good. It is an area that I discover and that is very exciting. It calls upon different expertise and trades and therefore represents the synthesis of everything I have had to do so far, because I went through the industry, the cars, the finance (Deposit and Management Fund), the CIH bank,... etc." says Ali Harraj, the CEO of the Wafa Assurance. "Finding yourself in control of the first Moroccan insurance company is obviously a big challenge; being the leader of a market. The performance of Wafa Assurance should also reflect the sector for which it is expected a double-digit increase."
Morocco: Drug trafficking represents nearly a quarter of the GDP in 2016 (Department of State):
"Drug trafficking accounted for nearly a 23% of the Morocco's GDP in 2016, the equivalent of 23 billion Dollar," said the State Department on Thursday. "The total cannabis production in Morocco in 2015-2016 is estimated at 700 metric Ton, which is potentially equivalent to a 23% of the Moroccan GDP estimated at 100 billion Dollar," said the State Department in its 2017 Report on Drug Trafficking and the Financial Crime in the World. "In Morocco, 19,000 people are in custody for cases related to drug trafficking, or a 25% of the number of detainees in that country," according to the report. The State Department is concerned about the extent of money laundering in Morocco resulting from the trafficking of cannabis and the transit of Cocaine destined to Europe. "The funds are easily laundered through real estate transactions and the acquisition of luxury goods such as jewelry or high-end vehicles," the report said. Offshore banks located in the Tangier Free Zone have become a veritable black hole in the Moroccan finance. The State Department quotes reports from the Moroccan Unit for the Processing of the Financial Information, MUPFI, which confirmed the use of this free zone in the money laundering.
"Between art and melancholy", by Aziz Abou at the Museum of Bank Al-Maghrib:
The Exhibition "Between art and melancholy" of the artist Aziz Abou Ali continues at the Bank Al-Maghrib Museum until the 10th of March 2017. This temporary exhibition features a great master engraver, a draftsman, a sculptor and a visual artist. Through an important legacy painted and engraved, the compositions of forms both neo-figurative and abstract, the exhibition resurrects the memory of a man profoundly marked by the melancholy and the suffering.
On the Occasion of the 8th of March, a "Concrete" Look at the Women Situation with Mouna Benrhanem:
Today, at the head of the Directorate of Communication & the RP department of Crédit du Maroc, a subsidiary of the Crédit Agricole France Group, Mouna Benrhanem has also worked in the Ministry of the Social, Family and Solidarity Development. A privileged witness to discuss with us the women condition in Morocco, as well as the key to make progress: The education.
The participating banks: Morocco involves the Islamic Financial Services Board:
Bank Al-Maghrib, BAM, and the Islamic Financial Services Board, IFSB, with the support of the Islamic Development Bank, recently co-organized a regional workshop in Rabat entitled "Facilitating the Implementation of IFSB Standards". This workshop, which focused on the 3 applicable standards to the participatory banking, gathered nearly sixty participants representing the Shariah Committee for the Participatory Finance, the Ministry of the Economy and the Finance, the General Secretariat of the Government, the regulatory and supervisory authorities of Africa and the Middle East and the banks.
Morocco has made a good progress in the extra-financial reporting in only three years:
Morocco has made a very good progress in the Extra-Financial Reporting in only three years (2014-2017). A reporting that has a strategic purpose. This is the act by which the company not only accounts for its extra-financial performance, but also a time when it delivers the result of its negotiations on the ESG issues (Environment, Social and Governance). In Morocco, the Extra-Financial Reporting now concerns a dozen companies: the BMCE Bank, the OCP, Managem, the ONCF, Lafarge, the BMCI, Banque Populaire, the Attijariwafa bank, Maroc Telecom and Lydec.
The BMCE Bank launches promotion of 'Club SMC', dedicated exclusively to Women:
The BMCE Bank has launched, on the sidelines of the International Women's Day, a special edition of the "SMC Club" aimed at supporting the executives women of the Small and Medium-sized Companies, SMC.
The BMCE Bank continues its approach of the accompaniment and the sustainable partnership:
Following the success of several SMCs promotions Club, the BMCE Bank is continuing its support and the long-term partnership with the SMCs' executives and launched a special edition for women in the 7th of March in the margins of The International Women's Day. The goal: To accompany and sensitize some forty women (entrepreneurs, financial managers, executives in charge of treasury, BMCE costumers...), offering them a certifying training cycles. This will allow the members to further deepen their banking knowledge and to develop their strategic and technical skills. This year's training cycle was enriched by a new module, developed in collaboration with the MorSEFF team, on the value of the sustainable development and the impact of the energy efficiency, in addition to modules in the markets, insurance...etc.
Salafin realizes a 30% of its turnover outside Morocco:
Salafin, like the large national companies, is satisfied with its results abroad. Excluding costs, the subsidiary of the BMCE Group, realizes a 30% of its turnover thanks to its activities abroad. In the sub-Saharan Africa, the subsidiaries are growing smiling, including the commission margin which increased by a 6.3%. To support its African presence, the company moved to Niger and Tanzania, beginning in 2017. A strongly desired presence for Salafin that seems to lose some market share in Morocco. The outstanding loans were down by a 0.5% in the cars financing.
The Attijariwafa bank: A bullish figure waiting for a solid validation:
The ATW rates has consolidated since several sessions, its dynamic short-term configuration changes from the neutral to the bullish. This consolidation has compressed the year-to-date performance of the stock to a 3.03%. The daily ATW chart shows a downward bevel formation. In fact, the title alternates between a bearish oblique support (point A, C and E) and a three-fold downside oblique resistance (point B, D and F), the two lines tending to approach. This consolidation structure has occurred post-strong bullish trend observed at the beginning of the year. The maximum wedge goal is 488 Dirham. An intermediate resistance is 440 Dirham.
Crédit : IMPERIUM MEDIA
