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What's David up to in Morocco?

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Since some people have mentioned the Bank of International Settlements as of late, I did a little digging with the search terms of BIS and morocco to see if they have any specific operations there.. The central bank of Morocco seems to participate in the BIS, but separately, this paper on worldbank.org seems like we might be able to glean some inferences.. It seems to be in reference to a study of the current financial system's structure and its shortcomings. Still digging into it myself, but figured I'd share the link in case someone with more of an understanding of the finance world's underpinnings could see anything that sticks out to them. Happy hunting! 

http://documents.worldbank.org/curated/en/802191484661795353/Morocco-FSAP-Update-FSA-Public-01132017.docx

 

One point that sticks out to me:

"30. Financial infrastructure: The strategy should aim to lower costs in payment and money transfer chains, and incentivize the use of electronic payments, starting with payments to and from entities in the public sector. Morocco’s credit reporting system would benefit from higher data integrity and greater coverage beyond financial institutions, as well as governance and oversight that deliver on agreed targets. The planned, major reform of the legal and operational framework for secured transactions holds great promises for enabling more bank lending to SMEs. The draft law should uphold the principle of no hidden interest by mandating the registration and low-cost verification all interests. It should consider granting absolute priority ranking for new financing. Both would lead to more credit by enhancing creditor certainty and increasing competition in the provision of credit."

Edit: adding an additional publication from the IMF that discusses Morocco's positioning as the home of three "systemically important cross-border banks"

https://www.imf.org/external/pubs/ft/scr/2015/cr15106.pdf

Edited by Guest
Added context

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Guest

Living his life. Next time Joel Katz orders a big mac. OMGOMG Mcdonalds rumor.

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Holidays, taking a rest I assume. The country has an interesting history.

I would not expect major developments would we orchestrated out of Morocco. From a banking point of view, Morocco is not a major player and I cannot find any conferences / forums taking place there at the moment. 

There are dozens of countries that are home of at least three "systemically important cross-border banks".

 

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4 minutes ago, frenktenk said:

Living his life. Next time Joel Katz orders a big mac. OMGOMG Mcdonalds rumor.

He seems to be using Apple Pay as well and has ordered stuff at Amazon recently. He even used Google, the search engine :lol: 

OMGOMG...

Edited by alottaripples

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2 hours ago, CC1 said:

Since some people have mentioned the Bank of International Settlements as of late, I did a little digging with the search terms of BIS and morocco to see if they have any specific operations there.. The central bank of Morocco seems to participate in the BIS, but separately, this paper on worldbank.org seems like we might be able to glean some inferences.. It seems to be in reference to a study of the current financial system's structure and its shortcomings. Still digging into it myself, but figured I'd share the link in case someone with more of an understanding of the finance world's underpinnings could see anything that sticks out to them. Happy hunting! 

http://documents.worldbank.org/curated/en/802191484661795353/Morocco-FSAP-Update-FSA-Public-01132017.docx

 

One point that sticks out to me:

"30. Financial infrastructure: The strategy should aim to lower costs in payment and money transfer chains, and incentivize the use of electronic payments, starting with payments to and from entities in the public sector. Morocco’s credit reporting system would benefit from higher data integrity and greater coverage beyond financial institutions, as well as governance and oversight that deliver on agreed targets. The planned, major reform of the legal and operational framework for secured transactions holds great promises for enabling more bank lending to SMEs. The draft law should uphold the principle of no hidden interest by mandating the registration and low-cost verification all interests. It should consider granting absolute priority ranking for new financing. Both would lead to more credit by enhancing creditor certainty and increasing competition in the provision of credit."

Edit: adding an additional publication from the IMF that discusses Morocco's positioning as the home of three "systemically important cross-border banks"

https://www.imf.org/external/pubs/ft/scr/2015/cr15106.pdf

Thanks for your insight CC1. It could be anything but hey..... its still very much appreciated.

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What I find interesting about his trip is the routing. I believe he was just in the Far East (I could be wrong). While Morocco is a fine country, the journey, after already being jet lagged and tired from a long road trip, to get to Morocco, is a pain in the butt. You really would want to visit Morocco in order to book that journey. And I mean REALLY want to visit :-)

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