MOROCCO’S removal the FATF “grey list” today (Friday) will help Rabat’s position in talks with international financial institutions, the Moroccan government said.
The North African country’s success has come after much assistance from the Spanish government, which publicly vowed to help Morocco get a clean bill of health from FATF.
Spanish officials have been helping local teams to get their AFC processes compliant.
Last month also a Moroccan central bank official said leaving the “grey list” of countries under special scrutiny to implement those standards would be conducive to Rabat’s efforts to regain a higher investment grade.
Morocco has announced plans to issue a dollar-denominated bond and has mandated BNP Paribas, Citi, Deutsche Bank and JPMorgan as joint lead managers and joint bookrunners to arrange meetings with investors, according to a document seen by Reuters.
The task force’s decision “will positively impact the sovereign and local bank ratings in addition to improving Morocco’s image and its position in negotiations with international financial institutions as well as fostering trust of foreign investors,” the prime minister’s office said in a statement.
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