Morocco: King appoints banker as ministry of economy

It is therefore a bank manager, Mohamed Benchaaboun, 57, who succeeds Mohamed Boussaid at the Ministry of Economy and Finance. The latter was fired at the heart of the summer by the sovereign, wiped out by the social crisis that made the kingdom uneasy. "In accordance with the provisions of Article 47 of the Constitution, King Mohammed VI, after consultation with the Head of Government, decided to put an end to the functions of Mohamed Boussaid", the communiqué of the royal cabinet said , relayed by the MAP agency. A royal decision reaches "within the framework of the principle of accountability that the king would like to apply to all officials regardless of their rank or membership." Words that sound like a "result obligation" that the former minister would not have achieved. Officially there are no further details about this dismissal.

A technocrat for the government of Saâdeddine El Othmani

Mohamed Benchaaboune was sworn in on Monday before the end of the war by King Mohammed VI, a statement from the royal cabinet passed on by the MAP Bureau. Born in November 1961, the banker has run the Central People & # 39; s Bank (BCP) group since February 2008, where he was appointed by the king, according to information from the local press who calls him a "technocrat".

This graduate from Supelec Paris (National School of Telecommunications) was born in 1961 and began his career with the International Monetary Fund (IMF) as an expert before returning to Morocco by the CGE. In 2001 he joined the People & # 39; s Bank as deputy director general. He is then appointed by the sovereign director general of the National Telecommunication Regulations. He will stay there for five years.

The speech of Al Hoceima

In 2008 it was the return to the Banque Populaire group, but this time as President and Chief Executive Officer. When it takes the lead, the group consolidates its position as the country's leading bank and quickly expands into Sub-Saharan Africa, particularly through the acquisition of many banks on the continent. Since 2010, the Sherifian kingdom has reconfirmed African status and Sub-Saharan Africa has made its new place of growth. Mohammed VI travels the continent himself to strengthen economic and political ties with his African peers. And IThe three main Moroccan banks – Attijariwafa Bank, BMCE Bank of Africa and Banque Populaire – have acquired local subsidiaries to compete with France, historically a leader. In 2017, international activity contributed 18% to the net bank income of BCP (net banking product). Mohamed Benchaaboun has also implemented many reforms and developed the telecom sector when he headed the National Telecommunications Regulatory Agency (ANRT).

His appointment comes in a context of social and political tension. King Mohammed VI was very critical of the Moroccan political class and called for "urgent" social measures in a speech marking the 19th anniversary of his accession to the throne. A report that the Court presented at the same time pointed to the "high public debt" and the "growing pace" of the country. Mohamed Benchaaboun will be responsible for the presentation of a reform budget for 2019.

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