The Minister of Economy and Finance chaired the (OPCI) launching conference in Morocco : 11/06/2019

The Minister of Economy and Finance chaired the (OPCI) launching conference in Morocco

Mr. Mohamed BENCHAABOUN, Minister of Economy and Finance, gave Tuesday, June 11th 2019 in Rabat, the opening speech of the conference for the launch of the Organizations of Real Estate Collective Investment Undertaking (OPCI) in Morocco.

Held jointly by the Ministry of Economy and Finance and the Moroccan Authority for the Capital Market (AMMC), this event, attended by representatives of several bodies including the Supervisory Authorities, the banking and insurance sectors, public companies, the World Bank Group and international donors as well as representatives of the Spanish Capital Market Authority, aimed to present the legislative and regulatory framework governing the (OPCIs) and discuss funding and investment opportunities of this new instrument in the Moroccan capital market.

During his speech, the Minister first drew attention to the Government’s efforts to develop and enhance the capital market. He pointed out that 2019 is the year that sets the basis for inclusive and sustainable growth, based in particular on an in-depth reform of the tax system, but also on the involvement of the private sector and the stimulation of the Capital Market.

Moreover, the Minister stated that the organization of this conference is taking place in a key phase, characterized by the completion of the main regulations required for the entry into force of the law no. 70-14 on the (OPCIs)

He asserted that the (OPCI)s will help to the diversification and the modernization of the methods and instruments of the financing of our economy, to the dynamisation of the capital market so that it can fully fulfil its role of the mobilization of the savings and its efficient allocation for the benefit of investment.

Created in August 2016 by the promulgation of Law No. 70-14 and framed by regulatory, tax and accounting texts, the (OPCIs) are regulated investment instruments whose main purpose is the construction or acquisition of real estate exclusively for rent.