The Foreign Exchange Office, in collaboration with Customs and the Directorate General of Taxes (DGI), has launched a series of audits and strict controls on investments made by Moroccans abroad, with particular attention paid on the African continent, according to media reports. This initiative aims, in particular, to ensure that cross-border financial flows fully respect Moroccan legislation.
Close collaboration between different national and international authorities and increased supervision of different sectors constitutes a key strategy to preserve the integrity of Morocco's financial system. To this end, the first phase of this operation launched by the Exchange Office consists of analyzing transfers and financial transactions carried out to African countries.
This initiative is part of a financial transparency approach, with the aim of combating the risks of tax fraud and money laundering. The sectors targeted by these controls are varied, including construction, public works, agri-food, textiles, clothing and pharmaceutical distribution.
The services of the Foreign Exchange Office focus particularly on Moroccan companies that have opened international subsidiaries over the last three years. Thanks to expanded access to tax and banking reports, the Office closely scrutinizes tax declarations as well as fund transfers to verify that profits made abroad are indeed repatriated to Morocco, in accordance with current regulations.
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As part of this audit, Moroccan companies that have requested funds transfer authorizations in previous years are now asked to provide supporting documentation regarding the use of the capital sent as well as the exact nature of their commercial activities. This action aims to prevent any attempt at fraud or misappropriation.
According to the same source, the Moroccan authorities work closely with customs services and international organizations to ensure the traceability of financial flows. This action aims to quickly identify any irregularities in fund transfers and ensure that investments are not diverted for illicit activities.
In 2024, Moroccan investments abroad experienced strong growth, reaching nearly 20 billion dirhams. This dynamic reflects a growing interest of Moroccan companies in the internationalization of their activities, particularly in Africa, where Morocco is a major economic player, both in the infrastructure and services sectors.
Furthermore, another important measure within the framework of these controls concerns the authorized ceilings for the export of capital intended to finance projects abroad. Remember, in 2022, the Foreign Exchange Office revised these ceilings, now allowing Moroccans to invest up to 200 million dirhams per year without geographical constraints, compared to 150 million previously with geographical restrictions. This revision aims to encourage international investments while ensuring reinforced monitoring of outgoing financial flows.
The Foreign Exchange Office, thanks to its international partnerships and access to financial data, aims to guarantee the regularity of these investments. The main objective of this action is to ensure that Moroccan companies comply with national legislation while consolidating financial transparency and preventing risks linked to tax evasion and money laundering.
