Microfinance Country Information
- Morocco -

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In April 1999, the government passed the Microfinance Act which provides a legal framework for microfinance in Morocco. The law requires MFIs to register with the Ministry of Finance and, among other stipulations, prohibits MFIs from collecting savings. MFIs are supervised by the Ministry of Finance and are required to be audited. The Ministry is also supposed to determine interest rates, though this has not yet occurred. For such issues related to the industry, the law states that the Ministry be advised by a consultative committee composed of microcredit practitioners, representatives from the Central Bank, a professional bankers' group (GPBM), the Ministry of Trade and Industry and from the federation of microcredit practitioners. With the increased high profile of microfinance, the Government has decided to give funds for loan capital to MFIs (US$ 10 million), through the Ministry of Finance.


Hari Srinivas - hsrinivas@gdrc.org
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