Highlights

M. Mohamed BOUSSAID, Minister of Economy and Finance, took part on Thursday 26th April 2018, in Paris, in the international conference to fight against the financing of terrorism.

At that meeting, Morocco reaffirmed its unwavering, continuous and proactive commitment to combating terrorism and its financing. This initiative is part of the national strategy to combat terrorism adopted in accordance with King Mohammed VI's directives.

Led by Mr. Mohamed BOUSSAID, the Moroccan delegation to the International Conference to Combat the Financing of Terrorism stressed that this fight against the financing of terrorism is a priority for the Kingdom through bringing national legislation and regulations into line with international standards, and particularly the resolutions of the United Nations Security Council and the recommendations of the FATF (Financial Action Task Force), improving national coordination among all stakeholders, developing international cooperation and strengthening the capacities of the services concerned.

Speaking on this occasion, Mr. Mohamed BOUSSAID noted that Morocco has embarked on the path of promoting and supervising the development of new "fintech" channels such as mobile payment or collaborative financing (crowdfunding) in order to develop access to basic financial services, reduce the use of cash and promote regulated financing channels.

To this end, Morocco has adopted "an approach that consists of combining, on the one hand, the objectives of developing financial inclusion assigned to each instrument and, on the other hand, the imperatives related in particular to monitoring and controlling the risks of terrorist financing," he announced.

The Moroccan delegation to this conference also included the President of the Financial Intelligence Processing Unit and representatives of the Treasury and External Finance Directorate, the Ministry of Justice, the General Directorate of National Security and the Moroccan Embassy in France.

This conference was jointly organized by the French Ministries of Finance, Europe and Foreign Affairs and the French Financial Intelligence Unit (TRACFIN) at the headquarters of the Organization for Economic Co-operation and Development (OECD). It brought together nearly 500 experts and 80 ministers from 72 countries. Held on the initiative of the President of the French Republic, Mr. Emmanuel Macron, under the slogan "No money for terror", this meeting aims to take stock of the current crises and to propose concrete solutions in the fight against terrorist financing.

The conference, which is being held behind closed doors, with the exception of the concluding speech by the French Head of State, was preceded on Wednesday by a meeting at expert level. The work of this conference will be concluded with the adoption of a final declaration.