The Role of Bank Al-Maghrib as a supervisory authority

Article 13-1 of Law No. 43-05 on the fight against money laundering, as amended, expressly refers to Bank Al-Maghrib as the authority responsible for ensuring the compliance of institutions under its control with the provisions of this anti-money laundering law.

This role has been enshrined by the new banking law. In this regard, Bank Al-Maghrib carries out off-site and on-site inspections to ensure the implementation by the entities subject to its control of the rules laid down by the anti-money laundering legislation.

According to Articles 6 and 7 of Decree No. 2-08-572 dated 25 Hija 1429 on the establishment of the Financial Intelligence Unit (UTRF), the latter is composed of a President and 13 members representing the ministries and agencies responsible for AML/CFT, including two from Bank Al-Maghrib.