The monitoring committee of the mortgage insurance fund for access to housing “DAMANE ASSAKANE” held its eighth meeting, Tuesday, April 17th, 2018 at the headquarters of the Ministry of Economy and Finance under the chairmanship of the Department of Treasury and External Finance. Took part in this event representatives from the Ministry of Housing, Bank Al-Maghrib, banks and the Central Guarantee Fund (CCG) as the fund’s manager.
During this meeting, the discussion mainly focused on the Fund’s activity in 2017, the portfolio’s quality as well as the ways to improve the Fund’s operation.
Since its start in 2004, as part of the Government’s efforts to reinforce the financial inclusion of private individuals, “DAMANE ASSAKANE” allowed a production activity of approximately 35 billion MAD of secured credits allocated to 193 000 households on which there are 156 000 households by way of the FOGARIM guarantee, with a total of 24 billion MAD in loans.
In 2017, there were 16 779 beneficiaries from the “DAMANE ASSAKANE” Fund, with mobilized credits amounting to 3.39 billion MAD
The meeting was an opportunity to review the advancement of both the Ministry of Finance and the CCG’s study being conducted, with the Islamic Development Bank’s financial support, aiming to set up a facilitation system to access participatory financing instruments in Morocco.
At the end of the monitoring committee’s meeting, the members welcomed the performance of “DAMANE ASSAKANE” Fund, which became, since its launch, a key component of the Government’s policy when it comes to promoting access to housing for low and/or irregular income population.