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THE MOROCCAN DEPOSIT INSURANCE CORPORATION

THE MOROCCAN DEPOSIT INSURANCE CORPORATION

Board of directors

The Board of Directors is the highest decision-making and supervising organ of SGFG’s activity. In compliance with the Banking Law 103.12, promulgated by Dahir No. 1-14-193 of 1st Rabii I 1436 (24 December 2014) and the Corporation’s statutes, the Board of Directors is chaired by the Governor of Bank Al-Maghrib and consists of:

  • Three members representing the banking industry.
  • Two independent members appointed by the Governor of Bank Al-Maghrib based on their expertise and experiences.

The position-holding duration for each independent member is three-year term, which is renewable.

When the Board of Directors discusses and decides upon matters pertaining to the resolution of a credit institution, it is composed only of independent members along with Bank Al-Maghrib representatives, excluding the members from the banking industry.

The Board of Directors meets at least twice a year upon convocation by its Chair and as many times as required.

Some of the main responsibilities of the Board are to approve the following:

  • the strategy of the SGFG,
  • its annual budget,
  • the Investment Policy of the Funds’ financial resources,
  • the accounting system of both Funds,
  • the SGFG’s internal procedures,
  • the appointment of the External Auditor of the SGFG,
  • the External Communication Strategy,
  • the Organizational Structure of the SGFG,
  • the Ethical Code of the SGFG’s staff,
  • the cooperation and information sharing agreements with foreign associations or entities performing the same mandate as the SGFG.

The Directors are subject to a Charter of Director , which is based on « Charte du Membre de l’Organe de gouvernance du Code Marocain de bonnes pratiques de gouvernance » published in March 2008. This charter supports sound governance and the adoption of high standards. It is reviewed by the Board of Directors and revised as required.

The Board of Directors membership :

Name Function Title
Mr Abdellatif JOUAHRI Governor of Bank Al-Maghrib Chair
Mr Othman BENJELLOUN CEO of  Bank of Africa Member
Mr Mohamed EL KETTANI CEO of Attijariwafa Bank Member
Mr Mohamed KARIM MOUNIR CEO of Banque Centrale Populaire Member
Mr Mohamed EL HAJJOUJI Financial Expert Independent Member
Mr Moulay Driss IDRISSI BICHR Legal Expert Independent Member