Building on several years of sustained growth, Morocco’s insurance sector is implementing a series of significant reforms that appear set to boost future expansion. New rules have changed key aspects of insurance distribution and established a range of new compulsory products that are set to boost the overall issuance of premiums. In addition...
In 2018 Morocco implemented the ninth International Financial Reporting Standard (IFRS) standard, effectively replacing the previous accounting regime. The new system covers three main topics: the classification and valuation of financial instruments, the impairment of financial assets and the hedging of accounts.
The industrial segment in Morocco is one of the country’s main earners of foreign currency, due in large part to its export orientation. This is important because Morocco’s economy continues to grow its trade imbalance. According to Bank Al Maghrib, the central bank, exports stand at Dh201.5bn (€18.1bn) while imports are markedly higher,...
In hand with sustained economic growth in recent decades, Morocco has been able to establish one of the region’s most competitive and sophisticated banking sectors. This has translated into significant penetration levels for banking services, a wide array of products and a handful of large-scale banking players with international reach across...
Increased tourist arrivals coupled with GDP per capita hikes and a rising consumer price index all contribute to Morocco’s expanding retail segment. Tourist arrivals increased by 8.3% in 2018. In addition, GDP per capita reached an all-time high of $7480 in 2017, and the consumer price index rose by 2.4% in 2018, marking the highest increase...
Two of the biggest recent trends in global insurance are premium growth in emerging markets and the rising importance of technology across the supply chain. The latter has come to be referred to as InsurTech, which heralds both threats and opportunities for incumbents and newcomers alike. While technological solutions are being applied along...
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