Governing and management bodies
Bank Al-Maghrib’s governance is based on:
- The administration and management bodies, composed of the Board, the Governor and many committees, including the Management Committee.
- The Bank is supervised by three bodies: the Government Representative, the statutory auditor and the Court of Auditors.
| GOVERNANCE STRUCTURE |
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The Board
Chaired by the Governor, the Board includes the Director General of the Bank, the Finance Ministry’s Director of Treasury and External Finance and six members appointed for their monetary, financial or economic expertise.
The Board is mainly responsible for determining the objectives of monetary policy. To this end, it sets interest rates for the Bank’s operations and may require the constitution of required reserves. Under Article 38 of the Statutes of Bank Al-Maghrib, the Bank Board is composed as follows:
- The Governor of the Bank, chairman
- The Director General of the Bank
- The Director of Treasury and External Finance in the Ministry of Finance
Six members appointed by the Head of Government, including three on the proposal of the Governor, from persons known for their competence in the monetary, financial or economic fields and exercising no elective office and no position of responsibility in banking or financial institutions or in public administration.
Board members are :
- Mr. Abdellatif JOUAHRI, Governor of Bank Al-Maghrib
- Mr. Abderrahim BOUAZZA, Director General of Bank Al-Maghrib
- Mr. Mohammed Tarik BCHIR, Director of the Treasury and External Finance at the Ministry of Finance
- Mr. Mounssif ADERKAOUI
- Ms. Raja CHAKIR
- Mr. Jilali KENZI
- Mr. Fouzi MOURJI
- Ms. Bouchra RAHMOUNI
- Mr. Abdelhak SENHADJI
The Governor
The Governor runs and manages the Bank. He particularly ensures the Bank’s compliance with statutory provisions and regulations as well as the implementation of the Board’s decisions.
The Director General
The Governor is assisted by a Director General who replaces him in case of absence or incapacity. The Director General acts under the authority of the Governor. He is appointed by decree on the proposal of the Governor, after seeking the opinion of the Board.
Management Committee
The Management Committee assists the Governor in managing the Bank’s business. It is composed of the Governor, the Director General and directors chosen by the Governor.
