MOROCCO : Rabat is UNESCO World Book Capital for 2026

The Director-General of UNESCO, Audrey Azoulay, announced the designation of Rabat (Morocco) as World Book Capital for 2026, based on the recommendation of the World Book Capital Advisory Committee.

Following Rio de Janeiro in 2025, I am pleased to announce the designation of Rabat as World Book Capital for 2026. Rabat is a cultural crossroads where books help transmit knowledge and the arts in all their diversity. The growing local book industry is also playing a crucial role in advancing education. These actions resonate with UNESCO’s mandate.

UNESCO Director-General

Audrey AzoulayUNESCO Director-General

With 54 publishing houses, the third largest international book and publishing fair in Africa and a growing number of bookstores, Rabat’s book industry is not only a vital part of the city’s creative economy but also at the forefront of democratizing knowledge. 

UNESCO and the World Book Capital Advisory Committee have recognized Rabat for its clear commitment to literary development, the empowerment of women and youth through reading and the fight against illiteracy, especially among underserved communities.

As World Book Capital for 2026, Rabat will roll out a series of initiatives with the aim of fostering sustainable economic growth and social benefits by enhancing access to books and supporting the local publishing industry. In particular, the city will launch a major initiative to reinforce literacy of all its citizens.

The year of celebrations will start on 23 April 2026, on World Book and Copyright Day.

About the world book capitals

Cities designated as UNESCO World Book Capital undertake to promote books and reading for all ages and groups, within and across national borders, and to organize a programme of activities for the year.

As the twenty-sixth city to bear the title since 2001, Rabat follows Madrid (2001), Alexandria (2002), New Delhi (2003), Antwerp (2004), Montreal (2005), Turin (2006), Bogota (2007), Amsterdam (2008), Beirut (2009), Ljubljana (2010), Buenos Aires (2011), Erevan (2012), Bangkok (2013), Port Harcourt (2014), Incheon (2015), Wroclaw (2016), Conakry (2017), Athens (2018), Sharjah, (2019), Kuala Lumpur (2020), Tbilisi (2021), Guadalajara (2022), Accra (2023), Strasbourg (2024) and Rio de Janeiro (2025).

The UNESCO World Book Capital Advisory Committee comprises representatives of European and International Booksellers Federation (EIBF), the International Authors Forum (IAF), the International Federation of Library Associations (IFLA), the International Publishers Association (IPA), and UNESCO.

More about

UNESCO’s World Book and Copyright Day

About UNESCO

With 194 Member States, the United Nations Educational, Scientific and Cultural Organization contributes to peace and security by leading multilateral cooperation on education, science, culture, communication and information. Headquartered in Paris, UNESCO has offices in 54 countries and employs over 2300 people. UNESCO oversees more than 2000 World Heritage sites, Biosphere Reserves and Global Geoparks; networks of Creative, Learning, Inclusive and Sustainable Cities; and over 13 000 associated schools, university chairs, training and research institutions. Its Director-General is Audrey Azoulay.

“Since wars begin in the minds of men, it is in the minds of men that the defenses of peace must be constructed” – UNESCO Constitution, 1945.

More information: www.unesco.org

source/content: unesco.org (headline edited)

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Shutterstock.com / auralaura

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MOROCCO

SAUDI ARABIA: Winners of 09th Iqra competition from Iraq, Morocco and Saudi were crowned in Dhahran

Boasting an attendance of 16,000 people, including Nobel laureates in literature, the King Abdulaziz Center for World Culture concluded its ninth annual Iqra competition on Saturday.

Amin Nasser, Saudi Aramco’s president and CEO, and other senior officials attended the two-day event in Dhahran.

Nobel literature laureates Abdulrazak Gurnah and Olga Tokarczuk were also present and offered insights during speaking sessions.

Visitors experienced a series of activities, culminating in the announcement of the competition’s winners.

Moroccan Meryem Bououd was awarded Reader of the Year, while 10-year-old Moroccan Fatima Kettani won the Promising Reader prize.

Iraqi Hira Karkhi secured the Text of the Year prize, while the Reading School award went to Tarbiyat Al-Ajial of the Private International School, Hafr Al-Batin, Saudi Arabia.

Saudi Safia Al-Ghubari claimed the People’s Reader award, while teacher Najla Ghazi Al-Suhaimi took home the Reading Ambassador prize.

Noura Al-Zamil, Ithra’s program director, spoke of the competition’s significant milestones since its inception in 2013.

Over nine editions Iqra has attracted more than 225,000 applicants and offered 48,000 hours of educational programming.

It has also engaged more than 600 speakers from 30 countries, bringing three Nobel Prize-winning authors to its stage.

Al-Zamil stressed Ithra’s continued efforts to innovate, introducing new elements like the Iqra Travels, Iqra Marathon, and Kitabiya Exhibit, to foster a reading culture among Arab youngsters.

The closing event featured cultural sessions, including a talk by Tokarczuk, who discussed literature as a tool for bridging languages and cultures.

Discussing the future, Tokarczuk expressed both optimism and caution, adding: “I embrace modern tools like ChatGPT but remain concerned about their potential misuse.”

Gurnah, reflecting on his roots, said: “Zanzibar will always be my true homeland, despite my long absence.”

source/content: arabnews.com (headline edited)

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Boasting an attendance of 16,000 people, the King Abdulaziz Center for World Culture concluded its ninth annual Iqra competition on Saturday. (Supplied)

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IRAQ / MOROCCO / SAUDI ARABIA

MOROCCAN-FRENCH: Would French-Moroccan Karim Bouamrane become the next French PM?

Often described as the rising star in the French political scene, French-Moroccan Karim Bouamrane stands as a strong candidate for the position of Prime Minister in France.

Born in 1973 to Moroccan immigrant parents, Karim Bouamrane, the current socialist mayor of Saint-Ouen, had an exceptional journey that is leading him to the position of Prime Minister, garnering admiration in France, Europe, and even the United States.

Bouamrane, the youngest in a family led by a mason, initially made his mark in politics with the Communist Party before joining the Socialist Party. After working in cybersecurity in Silicon Valley, he returned to France to become the mayor of Saint-Ouen in 2020, the city where he grew up, while also launching his own business.

He gained significant recognition during the Paris Olympics, hosting Brazilian athletes in Saint-Ouen. Known for his leftist values, he also emphasizes authority, security, and patriotism.

With a master’s degree in economics and European law, Bouamrane held a leadership role in a cybersecurity company at the dawn of the internet, which allowed him to travel extensively, including to the U.S. In 1995, he was elected to the Saint-Ouen municipal council and later became the Socialist Party’s spokesperson.

Dubbed the “Obama of the Seine” by the German newspaper Die Welt, Bouamrane is praised for his political acumen and impeccable style. His potential as a future Prime Minister is recognized by both allies and opponents, including a close associate of President Emmanuel Macron.

His reputation has even reached the U.S., with The New York Times highlighting his inspiring story as the son of an illiterate Moroccan immigrant who worked on construction sites in Paris.

Supported by influential figures like former Minister Jean-Louis Borloo and banker Matthieu Pigasse, Bouamrane is seen as a transformative leader. His name is frequently mentioned in discussions about future Prime Ministers, reflecting his growing influence and the possibility of making history as a prominent political leader in France.

source/content: northafricapost.com (headline edited)

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Mayor of Saint-Ouen-sur-Seine, Karim Bouamrane poses during a photo session in his office in Saint-Ouen-sur-Seine, northern surburb of Paris, on February 15, 2024. Saint-Ouen-sur-Seine, suburban city of Paris will be one of the host cities for the Paris 2024 Olympics. (Photo by JOEL SAGET / AFP)

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MOROCCAN Writer Abdelfattah Kilito Wins 2024 Grand Francophonie Prize

Kilito has won several accolades, with his most recent being the International Prize of King Faisal for Arabic Language and Literature in 2023.

The renowned Moroccan writer Abdelfattah Kilito has been awarded the 2024 Grand Prix de la Francophonie by the French Academy.

Since its establishment in 1986, the Grand Prix of the French Academy has been dedicated to acknowledging Francophone individuals whose impactful efforts, whether locally or globally, have greatly supported the maintenance and propagation of the French language.

The French Academy revealed its roster of 2024 honorees on Thursday evening, recognizing 67 individuals across diverse domains such as literature, poetry, criticism, philosophy, history, cinema, theater, and French music.

Born in 1945, Kilito is a professor emeritus in the French department at Mohammed V University in Rabat. He has also taught in Paris, Princeton, and Harvard. 

He has authored numerous works in both Arabic and French, in addition to publishing studies and research in Moroccan and Arab journals and scientific reviews.

Kilito has been recognized with numerous accolades, most notably the 2023 International Prize of King Faisal for Arabic Language and Literature.

Among his other awards, Kilito has received the Great Moroccan Award in 1989, the Atlas Award in 1996, the French Academy Award in 1996, and the Sultan Al Owais Prize for Criticism and Literature Studies in 2006.

The Grand Prix represents a pinnacle of achievement in celebrating Kilito’s profound influence on the French language and culture, both in his homeland and on a global scale. 

As his scholarly contributions and literary talent continue to resonate globally, this latest award is another resounding acknowledgement of Kilito’s enduring legacy and his dedication to advancing intercultural dialogue within the global francophone community. 

source/content: moroccoworldnews.com (headline edited)

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MOROCCO’s Ilias Akhomach Ranks Among Top 3 Arab Dribblers in Europe

The new Atlas Lion played in Morocco’s first friendly game against Angola and is expected to be present in the second friendly against Mauritania on March 26.

Moroccan international footballer Ilias Akhomach is one of the top 3 most successful Arab dribblers in Europe’s top 5 leagues this season, according to the sports statistics website Sofascore.

The Villarreal CF’s right-winger has no fewer than 39 successful dribbles and comes after Algeria’s Rayan Ait-Nouri with 45 successful dribbles and Jordan’s Mousa Al-Taamari with 40 dribbles.

For the young Moroccan, who is participating in his debut season with the Spanish club, this is a huge honor. His coach Marcelino Garcia Toral has confidence in him because of his rapid rise to the starting lineup.

The 19-year-old player was recently called up by  Walid Regragui, the Moroccan national football team’s coach, to take part in the Atlas Lions’ training camp. 

On his official Instagram account, Akhomach expressed his joy over his selection to defend the Moroccan colors, saying: “Thanks God the dream has come true. I am proud of wearing the national jersey.”

Speaking to the media, the Moroccan player stated: “I always give my all when I play football … Since I was a child, I have always dreamt of being here and the opportunity has come now.” 

Akhomach made his debut in the friendly match against Angola, replacing Eliesse Ben Seghir in the 88th minute.

The game ended with a 1-0 victory in favor of Morocco with Angola’s defender David Carmo scoring an own-goal in the 72nd minute.

Akhomach is also expected to be back in the second friendly game against Mauritania on March 26, which will take place at the Adrar stadium in Agadir at 10 p.m.

source/content: moroccoworldnews.com (headline edited)

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Ilias Akhomach during the Morocco-Angola match

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MOROCCO Assumes Leadership of Human Rights Council with Pledge of “Credible” Engagement

FM Bourita stressed the need to confront attempts to distort human rights issues in favor of unrelated agendas, while launching initiatives to strengthen the Council’s effectiveness.

Morocco’s Minister of Foreign Affairs, Nasser Bourita, affirmed in Geneva that the Kingdom’s tenure leading the Human Rights Council will prioritize “credibility and dynamism,” aiming to foster constructive consensus towards the council’s objectives.

Addressing the high-level segment of the 55th session of the Human Rights Council, chaired by Morocco, Bourita emphasized the adherence to principles synonymous with Moroccan diplomacy.

He highlighted Morocco’s dedication to credibility in action, dynamism in performance, innovation in methods, and the pursuit of constructive consensus.

The election of Morocco to preside over this crucial United Nations body, with 30 out of 47 votes, serves as international validation of the nation’s unwavering dedication to human rights under the leadership of King Mohammed VI.

Surpassing South Africa in the vote, Morocco’s victory signals recognition of its far-sighted vision and commitment to the rule of law and fundamental rights.

Following his election, Morocco’s permanent representative to the UN in Geneva, Omar Zniber, reiterated the kingdom’s pledge to promote, respect, and guarantee universally recognized human rights.

Zniber highlighted Morocco’s role as a unifying leader on key issues such as interreligious dialogue, tolerance, environmental sustainability, migrants’ rights, and the impact of new technologies.

According to Minister Bourita, the Moroccan presidency builds on significant progress in establishing a comprehensive human rights framework.

He noted that despite the challenges posed by a complex international landscape marked by polarization and human rights violations, the country remains committed to advancing the Council’s agenda.

Bourita stressed the need to confront attempts to distort human rights issues in favor of unrelated agendas, while launching initiatives to strengthen the Council’s effectiveness.

In parallel with these efforts, Bourita took part in bilateral discussions with his counterparts from Bahrain, Kazakhstan and the Netherlands, as well as meetings with the UN High Commissioner for Refugees and the UN High Commissioner for Human Rights.

source/content: moroccoworldnews.com (headline edited)

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Nasser Bourita, Morocco’s Minister of Foreign Affairs

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MOROCCAN: Sara Chraibi, Founder of Maison Sara Chraibi Discusses Her Haute Couture Designs

This January, Sara Chraibi, founder of Maison Sara Chraibi presented for the first time at Paris Haute Couture Week. The Moroccan designer greatly impressed critics with her collection which combines traditional Moroccan craftsmanship with modern elements and materials for a unique style that celebrates her heritage but also appeals to the contemporary woman.

After living in Paris and working as an architect for several years, Chraibi returned to her home country to establish her fashion brand. It was a major shift in cultures but she wanted to be in her homeland in order to find ways to embrace the traditional craftsmanship techniques and find new ways to express this as a form of contemporary luxury. Her designs are deeply rooted in traditions but also appeal to the wider world. This season Chraibi presented her Spring/Summer 2023 collection at Paris Fashion Week after being invited by the Fédération de la Haute Couture et de la Mode to showcase her designs to the world. Here we find out more about the experience and what we can expect to see from her brand moving forward.

Tell us a little about how your brand came to life.

I grew up in an environment of art and culture. As a child, I was introduced to sewing and embroidery by my mother. After my architectural studies in Rabat, I moved to Paris where I wrote a diploma (DEA) in “Philosophy and Theory of Architecture”. In Paris, my passion for fashion and couture is nourished by the vitality and ​​creativity of the city. Alongside my job as an architect, I then began to draw, sew and embroider a multitude of couture pieces.

In 2012, I presented my first collection “Anatomic Architecture” during the final of a Competition organized by “Ateliers de Paris”. In the same year, I participated in Festimode Casablanca Fashion Week where the models paraded in front of the Casablanca cathedral. Greeted unanimously by the public and the press, these first appearances were the beginning of my professional retraining.

Congratulations on the Spring/Summer 2023 collection – tell us about this collection and how it came to life. 

When I started working on this collection, I wanted to share several elements of my personal story, my influences and my sensitivity to the world. I had this idea of ​​weaving a collection where each thread would represent part of the story: beginning with the architecture, the relationship to the structure of the garment, then there is the know-how, coming from a Moroccan textile tradition and the memory of the elegance of Moroccan women, there is this double culture that makes the originality of my point of view on fashion. I wanted to weave all this together and make it into a framework to tell a new reality.

This was your first time showing at such a level tell us about your experience being a guest member of the FMHC. 

For me, Haute couture is a dream, a celebration of uniqueness and being part of it as a guest member is a milestone for my brand.

Can you tell us about some of the traditional techniques that you used in your designs and how you have evolved the techniques and craftsmanship to give them a modern twist?

With my work, I take patterns, shapes and ancient techniques from Morocco but I add a certain twist or reinvent them in a new way. For example, I used the “sfifa” weaving technique to create a fabric rather than using it as an ornament, as is done traditionally. I mixed raw materials from Morocco, and I used golden thread and silk fringe to build garments as a link between two cultures and realities. I see traditional craftsmanship both as an inspiration and a call to innovation.

How do your heritage and upbringing influence your work today?

My brand is built around the Moroccan art of living, my architectural background and my interest in couture know-how inspire it. My brand aesthetic evolves around the idea of subdued femininity. With a timeless approach to eveningwear, I merge the East and West through one-of-a-kind couture garments.

Tell us about your first memory of fashion. 

I remember times before my mother had an important party, we would stroll from stall to stall in the markets in search of fabric and she would make dresses from scratch. I would sit next to her and watch her assemble the pieces of fabric one by one and sculpt the garment. At that time I started to collect fabric scraps to in turn sew something for my barbie doll. There was something magical about those moments. As I grew up, I remember my impatience to get dressed for these events; to put on a beautiful dress, to finally be part of the adult world, with all those sophisticated ladies, perfumed, richly adorned in silk and lace, with an appearance that made everyone’s heads turn. The women of Morocco are beautiful and sensual and wearing a caftan is an ancestral tradition, a ritual that is passed down from mother to daughter.

How do you think your background in architecture has influenced your designs and the way you put looks together?

I quickly realised that fashion and architecture could share the same vision. As an architect, I liked the modern period. In my clothing designs, I am influenced by modern architecture. All my attention goes to the purity of the lines, to the elegance and the lightness of the structure, it is a sort of quest for the essential.

What is the vision for your brand moving forward?

For me, succeeding in the world of fashion comprises several essential elements: commercial success, of course, but also and above all, success together as a team to share values ​​and wealth, to ensure that each person in the company grows through their work. There is also a cultural success, where in addition to offering products, a brand manages to permanently establish its universe in the collective imagination. That’s all I want to achieve for my brand.

Who are some of the designers or brands that you admire?

Madeleine Vionnet, Jeanne Lanvin, and Elsa Schiaparelli, all made contemporary fashion history with a feminine point of view. I also admired Lee McQueen’s vision and Azzedine Alaia’s sharpness.

There are few brands from the Arab region that have managed to reach success on a global level – what is your opinion on this and what advice would you give to aspiring designers in the Middle East?

I wish that there are more and more brands with an Arab or oriental DNA on the international scene. Fashion is a great tool of soft power. Each new designer who launches in the region is responsible for spreading our culture to the rest of the world.

In this issue we are celebrating the month of Ramadan, what does this time mean to you and how will you be spending it this year?

Ramadan is one of my favourite times of the year. It’s time to reconnect with our faith. I like to spend it with my family and friends, to celebrate with pride and joy and I also like to share iftar with my non-Muslim friends.

What is next for you this year and for the rest of the year?

I’m working on the Maison Sara Chraibi Fall/Winter 2023 couture collection. I will also launch an e-commerce site later in the year.

What can you tell us about your brand in the Middle East and can we expect to see you here soon?

I plan to do some trunk shows in the Middle East over the coming months. The Middle East is an important market for my brand and It’s very important to establish long-term commercial partnerships there.

source/content: aeworld.com (headline edited) / Lindsay Judge

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MOROCCO

MOROCCO: Zineb Rechiche, First Arab Woman in UAE to obtain a FIFA Football Agent licence

Zineb, a remarkable 34-year-old Moroccan woman with a passion for football and an extraordinary career journey, has made history as the first Arab woman in the UAE to obtain a FIFA Football Agent licence. This achievement marks the pinnacle of a multifaceted career that spans two decades of professional football, executive leadership roles in global corporations.

Born with a profound love for the beautiful game, Zineb embarked on her professional football journey at the tender age of 14. For an impressive 20 years, she showcased her exceptional skills on the pitch, earning acclaim and respect both locally and internationally. Her unwavering dedication and talent opened doors that would eventually lead her to a groundbreaking role as a FIFA agent.

Parallel to her football career, Zineb pursued her academic dreams, earning a Trilingual Finance Degree from HEC Montreal and further honing her skills at ICADE Business School. Armed with a strong educational foundation, she ventured into the corporate world, joining prestigious global corporations such as GE. Zineb seamlessly balanced her roles on and off the football field, demonstrating exceptional leadership and managerial prowess.

One of Zineb’s most impressive accomplishments is her cultural and linguistic versatility. Having lived in 13 countries, she possesses a deep understanding of international cultures, fostering an open-mindedness and adaptability that have been instrumental in her career success. Fluent in four languages – Arabic, English, French & Spanish – she transcends cultural and geographical boundaries with ease. Her ability to connect with individuals from diverse backgrounds has played a pivotal role in her professional success and global experiences. Her journey through these diverse landscapes has imbued her with a unique perspective that she now brings to her role as a FIFA agent.

In a life defined by extraordinary achievements, Zineb’s latest feat as the first Arab female FIFA agent in the UAE is nothing short of groundbreaking. She successfully passed the rigorous FIFA Football Agent exam, solidifying her position as a trailblazer in the world of sports and representation. Her new role will enable her to empower athletes, foster talent, and advocate for gender equality in the world of football.

Zineb serves as an inspiration to aspiring athletes, young professionals, and women worldwide, proving that determination, passion, and a commitment to excellence can break down barriers and open doors to limitless possibilities.

With this historic achievement, Zineb continues to write her own remarkable story, leaving an indelible mark on the world of sports, corporate leadership, and international relations. Her journey stands as a testament to the power of ambition and the potential of the human spirit.

source/content: gulftoday.ae (headline edited)

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Zineb Rechiche

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MOROCCO

MOROCCO: First “Made in Morocco” car brand NEO’s ‘NamX’ presented to King Mohammed VI

Morocco’s King Mohammed VI presides at the Royal Palace in Rabat the presentation ceremony of the model of the first Moroccan car manufacturer “Neo Motors” and the prototype of a hydrogen vehicle “NamX” developed by a Moroccan.

Morocco’s King Mohammed VI presided, on Monday at the Royal Palace in Rabat the presentation ceremony of the model of the first Moroccan car manufacturer and the prototype of a hydrogen vehicle developed by a Moroccan, two innovative projects that will strengthen the promotion of the “Made In Morocco” label and consolidate the Kingdom’s position as a competitive automotive production platform.

The presentation to the King of the car of “Neo Motors”, a company owned by Moroccan capital, and of the prototype of a hydrogen vehicle of the company NamX, named HUV (Hydrogen Utility Vehicle), underlines the Sovereign’s willingness to encourage and promote the pioneering national entrepreneurial initiatives and the creative capacities, particularly of the Moroccan youth, that these projects embody.

These two industrial initiatives are in line with the High Royal Directions aiming at directing the private sector towards productive investment, in particular in the advanced and future sectors and at stimulating the emergence of a new generation of companies in the Kingdom.

They also confirm the King’s far-sighted vision in terms of sustainable development and the promotion of renewable energies, particularly the emerging field of green hydrogen.

Neo Motors company has set up an industrial unit in Ain Aouda (Rabat-Salé-Kenitra Region), to manufacture motor vehicles for the local market and for export, with a projected annual capacity of 27,000 units and a local integration rate of 65%.

The total projected investment for this project amounts to 156 million dirhams ($15.6 million) and will eventually create 580 jobs.

The final approval of the first vehicle was issued by the National Agency for Road Safety in February 2023. The company has launched the pre-production and plans to inaugurate the industrial unit during the month of June 2023 and to launch the marketing.

This project, which gives birth to the first Moroccan consumer car brand, is carried by national skills. It relies mainly on the ecosystem of local automotive suppliers developed by the Kingdom.

As for the prototype of the hydrogen vehicle of NamX, it was designed in collaboration with the Italian design office and coachbuilder of reference Pininfarina. The interior design of the vehicle has been realized by Moroccan talents.

Indeed, the HUV model will be supplied with hydrogen by a central tank that will be completed by six removable capsules, guaranteeing a significant autonomy and facilitating the hydrogen recharge in a few minutes.

This pilot project places Morocco firmly in the ongoing worldwide momentum to develop new forms of transport that combine efficiency and respect for the environment.

The monarch awarded the Wissam Al Kafaa Al Fikria to Nassim Belkhayat, founder and CEO of Neo Motors company, and Faouzi Annajah, President and founder of NamX company.

source/content: middle-east-online.com (meo) / headline edited

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The two industrial initiatives are in line with the High Royal Directions aiming at directing the private sector towards productive investment

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MOROCCO

MOROCCO’s Abdellatif Jouahri Named Africa’s ‘Central Banker of the Year 2024’

The Banker highlighted Jouahri’s strategies to safeguard Morocco’s economic stability in 2023, as well as his dedication to social causes.

International financial affairs magazine The Banker has named the Governor of Morocco’s Bank Al-Maghrib (BAM) Abdellatif Jouahri Africa’s Central Bank of the Year 2024.

Earning the top spot for Africa in the Financial Times-owned outlet’s ranking highlighted Jouahri’s leadership in the African banking sector, as well as his contributions during a period of remarkable growth and resilience.

Jouahri’s tenure spans two decades, marked by his adept steering of Morocco’s banking sector and the broader economy.

The Banker acknowledged Jouahri’s role in the relief efforts following the devastating Al Haouz earthquake that hit central Morocco in September of 2023.

The magazine noted that Bank Al-Maghrib, Morocco’s central bank, donated MAD 1 billion to the country’s relief fund for the earthquake, and “was quick to offer support for sectors of the economy most impacted by the tragedy.” 

In addition, the Banker lauded Jouahri’s decisions, including BAM’s “relative success” in tackling inflation. The Moroccan central bank was one of the first African central banks to hold interest rates in 2023, after lifting them to 3% in March, allowing the economy to absorb the impact of rate rises. 

“After a slight uptick in August, the bank continued to hold its nerve, a move that was vindicated by inflation falling back down to 4.3% in October from a high of 10.1% in February,” the magazine explained.

The Banker also highlighted the launch of Morocco’s instant payment system (IPS) in June, which aimed to advance the country’s financial infrastructure.

Commenting on the recognition, Jouahri expressed “considerable satisfaction” for receiving the top spot in the ranking, emphasizing the key role of central banks in overcoming global challenges.

“I am convinced of central banks’ pivotal role in overcoming the major challenges that beset the world. Foremost among these is climate change: the consequences of which are steadily worsening,” he said.

In light of escalating political tensions and the prolonged inflationary trends, Jouahri underlined the heightened challenges that central banks face. 

He called on these financial institutions to “optimise their monetary policy decisions to safeguard the purchasing power of citizens, especially the most underprivileged among them, and improve investor confidence in the future of their companies.”

source/content: moroccoworldnews.com (headline edited)

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MOROCCO