Morocco’s Removal from FATF Grey List Benefits Local Banks, Moody’s

The Removal of Morocco from the Financial Action Task Force (FATF) grey list will give more opportunities to local banks at the international level, said Moody’s, an American Rating Agency, in a press release on Thursday.
Moody’s described this achievement as positive for local banks and the national financial system, as it will reduce reputational risk and support confidence in the Moroccan financial system.
The agency said that this decision will open new doors for local banks to build ties with International Correspondent Banks, clearing houses and investors by slashing the risk of delays in the settlement of cross-border transactions and supporting capital inflows to the country.
The agency highlighted this achievement as a fruit of many efforts by the country to ameliorate its counter-money laundering and terrorism financing.