BEAC and the Moroccan Central Bank boost ties

Abdellatif Jouahri and Lucas Abaga Nchama, respectively governors of Bank Al Maghrib (central bank of the Kingdom of Morocco) and the Bank of Central African States (BEAC), recently signed a revised agreement on cooperation in terms of banking supervision, we learned from good sources.

This agreement, according to our sources, strengthens the cooperation between the two central banks, mainly concerning on-site inspection of transnational banking establishments.

This consolidation of the cooperation between BEAC and Bank Al Maghrib comes at a time when Moroccan banks are expanding to the Central African region. Expansion which, according to some experts, could carry some systemic risks.