Combating Corruption in Morocco: Ongoing Debate About Procedures and Causes
March 20, 2025, 3:29 pm

Combating Corruption in Morocco: Ongoing Debate About Procedures and Causes

علم المغرب_ أرشيفية

Combatting corruption in Morocco remains a controversial issue, with varying opinions on the causes of corruption's prevalence and its effects on the political and economic structure. This was highlighted during a party seminar discussing "Initiatives to Combat Corruption," where participants noted that society has begun to "normalize" corruption, and that some political parties exploit the fight against corruption as an electoral slogan.

Mohammed Al-Ghalousi, the president of the Moroccan Association for the Protection of Public Funds, viewed corruption in Morocco as a structural phenomenon used as a means to control society and entrench authoritarianism. He emphasized that the absence of democracy and weak accountability contribute to the expansion of corruption, thereby maintaining the interests of powerful elites at the expense of development and reform.

Al-Ghalousi also pointed out that there is a tightening against democratic forces and the press, while corrupt powers enhance their influence through legislation that obstructs accountability, noting that some elites attempt to legitimize corruption, turning oversight institutions into mere formalities.

For her part, parliamentarian Fatima Zahra Al-Tamni, from the Democratic Left Federation party, stated that the spread of corruption has reinforced a culture of impunity and disrupted institutional functioning, which has undermined citizens' trust in the state and threatened political and social stability. She highlighted the lack of genuine political will to combat corruption.

In his comments, economist Azeddine Akasbi explained that society's normalization of corruption is a cumulative result developed over decades. Despite civil and legislative efforts, Morocco has regressed in international corruption indices, indicating a lack of political will to combat this phenomenon. He stressed that vital sectors such as judiciary, health, and security have also been affected by corruption, fostering a lack of justice.

In the context of anti-corruption reforms, Rashid Lzarq, head of the North Africa Studies Center, stated that political parties exploit the corruption issue as an electoral slogan without any real intention for reform. Although the legal texts to combat corruption issued by the 2011 constitution exist, their effectiveness remains hindered due to the absence of political will.

In this context, Al-Alam mentioned that Moroccan society expresses its rejection of corruption, yet some individuals are forced to deal with it due to daily necessities, pointing to the need for multiple measures to confront it, such as tightening penalties and enhancing integrity and community involvement.

In contrast, the Moroccan government defends its commitment to fighting corruption through specific strategies, noting that the national anti-corruption strategy (2016-2025) has achieved 76% of its goals. Government spokesperson Mustapha Baitas confirmed that the government has taken measures to improve public administration and foster transparency, emphasizing the importance of digital transformation in fighting corruption.

In conclusion, these dynamics show that combatting corruption in Morocco requires more political will and cooperation among various stakeholders to be effective and genuinely make a difference.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.