HomeEconomyBad debts: Jouahri announces a commission responsible for setting up a secondary market

Bad debts: Jouahri announces a commission responsible for setting up a secondary market

The Wali of Bank Al-Maghrib (BAM), Abdellatif Jouahri, announced the establishment of a commission to create a secondary market for bad debts.

Speaking at a press briefing held on Tuesday in videoconference mode at the end of the last quarterly meeting of the BAM Board of the year 2021, Jouahri affirmed that the Central Bank is actively engaged in order to be able to this year bring out this secondary market for bad debts.

“We have already worked on what needs to be requested, both fiscal, legal and collections. We’ve also worked with the banks, and the volume is good enough to drive that secondary market, ”he said.

It should be noted that the International Monetary Fund (IMF) estimates that the Central Bank should continue to ensure that banks continue to establish provisions for bad debts, while accelerating, with the authorities concerned, the launch of reforms for the creation of banks. ‘a secondary market for bad debts.

The authorities should complete the legal reform project aimed at establishing a more solid framework for bank resolution, he further notes.

Supporting project leaders

On another note, Abdellatif Jouahri insisted on the need to establish a support policy for young project leaders in order to benefit from funding under the Intelaka program.

The categories to which the Intelaka program is aimed will have to be accompanied in order to prepare bankable files, affirmed the Wali of the Central Bank, noting that “the idea of ​​the project must be supported by a complete file allowing the bank to move quickly to agreement to funding and not rejection ”.

In this sense, he noted that the rejection rate at the level of banks is greater than a third, highlighting the importance of this Royal project launched in October 2019 and which is dedicated to the promotion of entrepreneurship and inclusion. financial.

Highlighting the need for the coordination of regional investment centers (CRIs) at the regional level, he said that BAM “will label with these centers the partners who can make contributions at the level of Intelaka credit applicants”.

The objective, he argued, is to find the appropriate framework, both comprehensive and simple, to make cases bankable and to be able to access funding.




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