Chief among the host of plaudits that followed Benchaaboun’s appointment is his excellent reputation for diligent and purpose-driven projects, which he demonstrated during his long career as an executive, especially his 10-year tenure as CEO of Morocco’s Central Popular Bank (BCP), one of the country’s most successful and revered financial institutions.
At the National Rally of Independents (RNI)—the political party under whose flagship the newly-appointed minster will be overseeing the economy and finance department in the El Othmani-led government—reactions to Benchaaboun’s appointment were overwhelmingly positive.
Reacting to Benchaaboun’s appointment, Aziz Akhannouch, the minister of agriculture and also RNI chairman, made welcoming remarks, praising the new economy and finance minister for his professional qualities and the good reputation he earned in his numerous executive positions.
According to the RNI chief, the new finance minister was a confidante of the party and a regular consultant on various strategic decisions long before his direct involvement in the country’s political life.
The RNI chairman also asserted that the new minister shares similar values with the party, primarily for Benchaaboun’s notable marriage of royalist and liberal-leaning reforms in his previous functions.
Under Benchaaboun’s decade-long tenure at BCP, the bank’s net revenues increased, exceeding the MAD 16 billion threshold for the first time and consolidating its leadership position in Morocco’s banking sector.
During the same period, BCP also extended its continental and global outreach, acquiring banks in 13 countries throughout Africa and inaugurating a representative office in the US in November 2015.
Of Benchaaboun’s established reputation as a diligent CEO and strategist in the private sector, Akhannouch said the private sector has always had a “crop of highly talented officials fully dedicated to Morocco’s socio-political advancement and economic prosperity.”
Akhannouch said he believed that Benchaaboun will live up to his reputation. He added, “Mr. Benchaaboun has always been a resource that the party sought to have in its ranks on various occasions, for counsel and his expertise on numerous dossiers.”
“The party is proud to be able to be able to count on such competencies,” Akhannouch said.