The Moroccan Deposit Insurance Corporation (SGFG) was established in May 2015, by the virtue of the Banking Law of 24 December 2014 (Law n°103.12 relating to credit institutions and alike).

In accordance with this Banking Law, the mandate of the SGFG is to manage the Deposit Insurance Fund of commercial banks (called FCGD) as well as the Deposit Insurance Fund of participatory banks (Islamic banks).

These two Funds which are established by aforementioned Banking Law aim to protect the rights of depositors, natural or legal persons, in the event of the bank’s inability to repay depositors. These Funds are also an important tool to contribute to the recovery of credit institutions ‘difficulties.

The capital stock of the SGFG amounts to one million dirhams and the SGFG’s shareholders are Bank Al-Maghrib (the Central Bank of Morocco) and all member banks.

The SGFG is a full member of the International Association of Deposit Insurers and acts as Vice-Chair of Middle East and North Africa Committee.

The SGFG works in close collaboration with Bank Al-Maghrib (the Central Bank of Morocco) and banking industry.