King Mohammed VI stressed the social role that banks and financial institutions have to play in supporting Morocco’s development efforts through notably facilitating access of young graduates and SMEs to funding.
The King insisted, in a speech at the opening of the Parliament’s fall session, that banks and financial institutions should be at the heart of the development endeavor and should shoulder their social role.
“Several segments of society still have a negative perception of the banking sector, as if banks were only interested in quick, guaranteed profit,” said the King, citing the difficulty young entrepreneurs have in obtaining loans, and the limited financial support provided to graduates and for the creation of small and medium sized enterprises.