The American rating agencies S&P and Moody's have announced the benefits of Morocco's removal from the Financial Action Task Force's gray list.

S&P and Moody's note that removing Morocco from the Financial Action Task Force's gray list will improve confidence in the Moroccan financial system, among other things. According to S&P, this exit from the gray list is justified by the fact that “the supervision and regulation of Moroccan financial institutions have gradually improved in recent years. Specifically, the authorities improved their international cooperation mechanisms, strengthened anti-money laundering surveillance, and increased transparency regarding legal persons. The regulator has also strengthened its ability to conduct investigations, and improved the effectiveness of its financial sanctions.”

For its part, Moody's believes that the exit represents a good opportunity for Moroccan banks. For the agency, “the removal of this list could, however, strengthen the ability of Moroccan banks to engage in trade finance operations, especially with European banks.”