Bank Al-Maghrib, Morocco’s Central Bank, and the International Finance Corporation, member of the World Bank group, held Thursday an international conference on Public Credit Registry best practice, focusing on how credit reporting data can support regulators’ institutional functions and help ensure financial stability. The joint work is part of a wider project aiming to strengthen credit reporting infrastructure in Morocco to improve financial inclusion, and help the Central Bank better exert its institutional responsibilities through a modern technological environment. The Moroccan Central Bank has so far opened two credit bureaus, the first country in MENA to do so. While the credit bureaus will continue to provide risk management and information services to the lending industry, the PCR will be used by Central Bank regulators to support its internal needs and responsibilities. The event brought together experts from more than 20 central banks, mostly from the Africa and MENA regions, and host speakers from advanced Central Banks like Brazil, Germany, Italy, Spain, Turkey, and the European Central Bank.

Source: The North Africa Journal February 23, 2018 15:22 UTC