Morocco’s Central Bank Publishes Guide to Protect Customers of Credit Institutions and Similar Entities
The Central Bank of Morocco has released a new edition of its “Useful Information” guide aimed at protecting customers of credit institutions and entities considered equivalent.
This guide, available on the Central Bank’s website, details various measures implemented by the central bank to enhance the protection of customers of credit institutions and recognized entities.
The guide focuses on nine issues primarily related to the requirements of the Central Bank, concerning transparency, access to information, banking services, and measures taken to ensure fair competition that serves consumer interests, as well as how to file a complaint against their credit institution. It also addresses staying informed about updates and measures adopted for financial inclusion of individuals in difficult situations, and the Central Bank’s framework for enforcing ethical standards in the relationship between banks and customers, along with the standards it has set to ensure the confidentiality of customers’ personal data and protect their funds, as well as the services the Central Bank can directly offer to bank customers.
The guide emphasizes that the Central Bank places special importance on safeguarding bank customers. This involves establishing a healthy and balanced relationship between credit institutions and their customers, fostering a trustful environment conducive to financial inclusion.
Over the past two decades, significant progress has been made in this field. The Central Bank has addressed various issues through the preparation of regulatory laws, particularly concerning complaint handling, account closures, issuance of certificates lifting guarantees, and banking mobility. Concurrently, the institution has organized awareness, educational, and informational campaigns aimed at promoting financial literacy among banking service users.
The Central Bank continues to take appropriate measures to ensure the protection of customers of credit institutions and recognized entities, especially with the emergence of new models.
