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Morocco · Country watch

BAM-Emirates MoU, Severe Weather, ONMT-GNV Deal

Morocco signs banking MoUs with UAE, severe weather disrupts, and ONMT partners with GNV to boost tourism.

· · 10 sources

The picture Mixed

Business conditions in Morocco are mixed today, with new banking agreements enhancing financial cooperation with the UAE, while severe weather disrupts logistics and agriculture. Meanwhile, the tourism sector sees potential growth through a new maritime partnership with Italy.

In this briefing Abdellatif Jouahri · Bank Al-Maghrib · Central Bank of the United Arab Emirates · Moroccan Meteorological Authority · Office National Marocain du Tourisme · Grandi Navi Veloci

Regulation

  • finance

BAM and UAE Central Bank sign MoUs on banking

Bank al Maghrib after adding Tifinagh
Bank al Maghrib after adding Tifinagh Bananakingler, CC0 via Wikimedia Commons

Bank Al-Maghrib (BAM) and the Central Bank of the United Arab Emirates have signed two memorandums of understanding to enhance cooperation in banking supervision and Islamic finance, as reported by Telquel. The agreements aim to interconnect payment systems and financial messaging between the two countries. The MoUs were signed by Abdellatif Jouahri, Wali of Bank Al-Maghrib, and his UAE counterpart, marking a significant step in strengthening financial ties.

Impact Banks and financial institutions in Morocco will benefit from improved cross-border transaction efficiency with the UAE.

Sources: Telquel ↗, La Vie Eco ↗

Disruption

  • logistics
  • agriculture

Severe thunderstorms hit multiple Moroccan regions

The Moroccan meteorological authority has issued an orange alert for severe thunderstorms expected to bring 50 to 80 mm of rain in several regions today and tomorrow, according to Hespress. The storms are anticipated to be accompanied by hail and strong winds, potentially disrupting transportation and agricultural activities.

Impact Logistics operators and farmers in affected regions face disruptions due to severe weather conditions.

Sources: Hespress ↗

Internal tension

Nothing significant reported today.

Safety & health

Nothing significant reported today.

Companies

Nothing significant reported today.

Markets

Nothing significant reported today.

Trade

  • tourism
  • logistics

ONMT and GNV aim for 350,000 ferry passengers

SNAV Sardegna (ship, 1989). Sète, Hérault, France.
SNAV Sardegna (ship, 1989). Sète, Hérault, France. Christian Ferrer, CC BY-SA 4.0 via Wikimedia Commons

The Moroccan National Tourist Office (ONMT) and Italian shipping company GNV have signed a three-year partnership to enhance maritime tourism between Italy and Morocco, aiming to reach 350,000 passengers, reports La Vie Eco. The agreement was ratified in Rabat during GNV's annual convention held in Marrakech from October 2 to 5.

Impact Tourism operators and maritime logistics companies will see increased activity from the Italy-Morocco ferry route.

Sources: Telquel ↗, La Vie Eco ↗, yabiladi.com ↗

Politics

Nothing significant reported today.

Also today in Morocco

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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