"After a contraction in 2020, the cumulative net income of banks rebounded by 76.4% for the year 2021. The short-term liquidity ratio stands at comfortable levels," said Morocco's Central Bank (Bank Al-Maghrib) in a press release following the 15th meeting of the CCSRS.

In terms of capitalization, solvency and Tier 1 capital ratios stand, at end-2021, at 15.8% and 12%, on an individual basis, for regulatory minimums of 12% and 9%. On a consolidated basis, these ratios stand at 13.9% and 11.2% respectively, it added

The macrosolvency stress test exercise carried out by Bank Al-Maghrib in June 2022 shows the resilience of the banking sector to scenarios simulating the deterioration of macroeconomic conditions.

During its meeting, the Coordination and Systemic Risk Monitoring Committee examined and approved the Financial Stability Report for the year 2021 and reviewed the progress made in the financial stability roadmap covering the period 2022-2024.

It also analyzed the summary of the monthly work of its representatives undertaken since the outset of the health crisis. The reviewed monitoring indicators continue to show, so far, the resilience of the financial sector to the fallouts of the crisis.

The Committee also reviewed the progress of the action plan concerning the implementation of the Financial Action Task Force (FATF) and the Middle East and North Africa Financial Action Task Force (MENAFATF) recommendations on the fight against money laundering and the financing of terrorism and took note of the progress made while recommending continuing to mobilize for its finalization within the set deadlines.