Morocco’s central bank accelerates steps to regulate digital currency as Jouahri warns of the impact of talent migration
The Governor of Bank Al Maghrib, Abdellatif Jouahri, announced that the Kingdom has officially entered the phase of preparing a legal framework for digital currency. He clarified that the central bank has prepared a draft law in this regard and submitted it to the Ministry of Economy and Finance, which has initiated the formation of a special committee to study it.
During a press conference held on Thursday, July 3, 2025, on the sidelines of the 23rd Islamic Financial Stability Forum in Rabat, Jouahri explained that the central bank is concurrently working on drafting the regulatory and application texts related to digital currency. He emphasized that accelerating the pace of this initiative has become essential, given the rapid advancements in the field of digital assets amid a global context marked by geopolitical and economic uncertainty.
The official noted that efforts to regulate digital currency also encompass the regulation of dealings with cryptocurrencies, particularly Bitcoin, considering the risks associated with them. He stressed that he has urged the Ministry of Finance to expedite the submission of the draft law to Parliament.
In discussing the challenges, Jouahri asserted that the issue does not lie in the technical or technological side, but in the lack of qualified human resources. He stated, “We lose about 20 engineers annually from Moroccan talent who are recruited abroad,” referring to the brain drain that hinders the development of the national digital and financial ecosystem.
He confirmed that international institutions are generous in providing support and expertise; however, the real difficulty arises during the project implementation stage, where securing specialized talents in technology and risk management becomes vital. He noted that Bank Al Maghrib has established a special committee on digital currency that operates under a clear vision and defined priorities.
Jouahri also indicated that the competition for Moroccan talents has intensified, with foreign countries luring them with attractive offers that include residency, citizenship, and social benefits.
