Participation of Mr. Driss El Azami El Idrissi in the first international symposium of Microfinance in Morocco : 15/10/2012

Participation of Mr. Driss El Azami El Idrissi in the first international symposium of Microfinance in Morocco

The international symposium of micro-finance in Morocco, organized under the high patronage of His Majesty King Mohammed VI, started its work on Thursday, October 11th2012 in Skhirat, under the theme:"Strategic Perspectives for the microfinance sector in Morocco".

Mr. Driss El Azami El Idrissi, Minister Delegate to the Minister of Economy and Finance in charge of the Budget, took part in this event organized by the National Federation of Microcredit Associations (FNAM) and the Mohammed VI center for Supporting solidarity-based microfinance(CMS) and characterized by the participation of leading international experts and stakeholders gathered to share experiences and best practices globally.

The microfinance national strategy intendsfor 2020, to serve more than 3 million beneficiaries for a total credit of 25 billion dirhams, stated Thursday in Skhirat, Mr. Driss El Azami El Idrissi.

"Measures are planned to improve the national networkgiving a priority to poor areas, especially in rural regions," stated Mr. El Azami El Idrissi at the openingof the first micro-finance international symposium in Morocco, characterized by a message from His Majesty King Mohammed VI, and read out by Mrs. Zoulikha Nasri, Adviser to the sovereign.

Mr. Driss El Azami El Idrissi recalled the impact of micro-finance on the Moroccan financial system "with its role in the financial inclusion, the fight against poverty and the integration of low-income populations through jobs creation and income-generating activities.

It should be stressed that the action of the public authorities within this framework focuseson four main areas, namely "expending the field of activities of MicrocreditAssociations (AMC), setting up tax incentives, developing and diversifying the sector`s financial resources and reinforcing its monitoring framework".

Furthermore, the Minister Delegate in charge ofthe Budget highlighted the Moroccan experience and its positive impact on poverty reduction and financial inclusion, congratulatingall the actors and stakeholders in the sector for their efforts. He urged them to keep up their mobilization, ensuring that the government promised "to support and remain attentive to the sector in order to achieve the objectives assigned to it."

In a statement to the MAP, Mr. El Azami El Idrissi noted that the micro-finance field in Morocco is regulated by law. It benefited also from the support of public authorities through strengthening the supervision of the sector, the regular monitoring of these funds, the setting up of tax incentives, as well as the reform of the law on microcredit that will determine the operating costs terms.

Dedicated primarily to the presentation of the orientations of the new strategic vision of the micro-finance sector by 2020 in Morocco, this two days meetingis an opportunity to deal with various themes as "micro-finance, tool for economic integration", "which integration micro-finance and the global financial system offer? ", "from micro-credit to micro-finance: objectives" and "the sector financing"

This symposium is also an opportunity to reward the best miro-national businesses.