Transforming Debt Collection to Boost the Economy
The Moroccan Minister of Justice has emphasized that overhauling the banking debt collection system is a strategic initiative directly linked to enhancing the business environment and supporting the national economy, particularly due to the impact of non-performing loans on financing businesses. He elaborated that this reform is based on a comprehensive approach founded on a precise diagnosis of the existing issues, aiming to balance economic efficiency with the protection of rights.
This statement was made during a national seminar held in partnership with Bank Al-Maghrib on Tuesday, March 24, 2025, in Rabat, titled “Effectiveness of the Legal Framework for Recovering Bad Debts: Practical Challenges and Development Perspectives.” The event was attended by the Head of the Public Prosecution, the Governor of Bank Al-Maghrib, along with various ministry officials and prominent figures.
Modernizing Legal Frameworks and Encouraging Alternative Dispute Resolution
In line with modernizing the system, the Minister indicated that the ministry is actively working on enhancing the legal framework related to debt recovery, particularly through a draft law on civil procedures aimed at simplifying processes and improving the effectiveness of notifications and executions. Additionally, the integration of digital solutions is seen as a fundamental lever for modernizing the justice system and enhancing transparency.
The ministry also aims to develop alternative mechanisms for dispute resolution by promoting amicable solutions, thereby alleviating pressure on the courts and expediting case processing, especially in banking and financial sectors, while aligning with international standards.
The Minister highlighted the vital role that credit institutions play in this initiative through digital initiatives for data exchange with the courts, which will contribute to speeding up procedures. He stressed the necessity of adopting practical, actionable recommendations supported by mechanisms for monitoring and evaluation to ensure tangible results and the sustainability of the reforms.
As reported by bayanemarrakech.com.
