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Rabat – Morocco’s central bank, Bank Al-Maghrib (BAM) and the National Telecommunications Regulatory Agency (ANRT) signed on February 9 a partnership agreement to boost cooperation between the two institutions.
The agreement aims to establish a collaborative framework for the exchange of data and experiences in areas of common interest.
Signed by BAM governor Abdellatif Jouahri and the Director General of ANRT Az-El-Arabe Hassibi, the partnership agreement will allow the two institutions to benefit from technological developments in the fields of information technology and digital infrastructure.
In a joint statement, BAM and ANRT noted that the joint cooperation actions “will also include digital banking services, innovative means of payment as well as the aspects inherent to these two sectors.”
The agreement also covers aspects related to crypto-asset trading platforms, the statement concluded.
Although Morocco’s Exchange Office has banned trading in cryptocurrencies in 2017, BAM announced last year that its committee was in the process of considering the economic benefits of adopting cryptocurrencies.
Amid the economic crisis caused by the COVID-19 pandemic, cryptocurrency ownership in Morocco reached all-time high levels in 2020, amounting to an estimated $2.18 million.
In 2021, bitcoin trading in the country remained the highest in North Africa, according to Triple, a cryptocurrency research platform.
Earlier this week, BAM announced that it is preparing to hold a joint conference with the International Monetary Fund (IMF) and the IMF Economic Review in Rabat between June 23 and 24, 2022.
Themed “Transformational Recovery: Seizing Opportunities from the Crisis,” the conference will focus on post-COVID-19 challenges amid emerging markets.
