A group of Moroccan expatriates has raised concerns about European regulations that hinder their money transfers to Morocco.
According to the parliamentary group of the Justice and Development Party (PJD) in the House of Representatives, the financial transfers of Moroccans living abroad are now threatened by a European measure that could affect a vital source of foreign currency.
The parliamentary group explained that the European Union requires these transfers to go through European banks instead of Moroccan credit institutions, which could pose significant challenges for the national economy, banks, and Moroccans worldwide.
In a written question directed to Prime Minister Aziz Akhannouch, the group highlighted that these transfers are a crucial resource for Morocco’s economy and finances. They have seen consistent growth in recent years, surpassing 115 billion dirhams in 2023.
As a result, the PJD parliamentary group has called on the Prime Minister to disclose the actions that will be taken to protect the financial transfers of Moroccans abroad, and to urge the European Union to reconsider this approach, which is deemed not to serve the interests of either party, whether Morocco or the European Union.
