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THE MOROCCAN DEPOSIT INSURANCE CORPORATION

THE MOROCCAN DEPOSIT INSURANCE CORPORATION

MEETING OF THE BOARD OF DIRECTORS OF THE MOROCCAN DEPOSIT INSURANCE CORPORATION OF THE YEAR 2023

English

The Board of Directors of the Moroccan Deposit Insurance Corporation (Société Marocaine de Gestion des Fonds de Garantie des Dépôts Bancaires -SGFG) held its meeting on March 15th , 2023 under the Chairmanship of Mr. Abdellatif JOUAHRI, Governor of Bank Al Maghrib. This meeting was attended by Mr. El Hadi CHAÏBAÏNOU, Managing Director of Moroccan Banking Association (GPBM) as the representative of Mr. Othman BENJELLOUN, Chief Executive Officer of Bank of Africa, Mr. Mohamed KARIM MOUNIR, Chief Executive Officer of Banque Centrale Populaire, Mr. Rachid KETTANI as the representative of Mr. Mohamed EL KETTANI, Chief Executive Officer of Attijariwafa Bank Group, as well as Mr. Mohamed EL HAJJOUJI and Mr. Moulay Driss IDRISSI BICHR, independent members.

MM. Abderrahim BOUAZZA and Lhassane BENHALIMA, respectively General Director of Bank Al-Maghrib and Managing Director of SGFG. Mr. Youssef JALALI, Executive Managing Director, Mr. Nabil BADR, Deputy-Head of the Banking Supervision Department of Bank Al-Maghrib attended this meeting along with the external auditor of SGFG.

The Board of Directors reviewed the management reports of the SGFG and the Deposit Insurance Fund (FCGD) and closed their 2022 financial statements. The Board also reviewed the reports of the Chairs of the Investment Committee, the Remuneration and Nomination committee and the Audit and Risks Committee. The Board then approved The SGFG’s action plan and budget for 2023 and adopted the draft of resolutions to be submitted to the next AGM.

The Board of Directors also took note of the departure of Mr. Lhassane Benhalima as Managing Director of SGFG and thanked him for his dedication and professionalism in the carrying out his duties. The Board of Directors has then appointed Mr. Abderrahim NASSIRI, as the new Managing Director of SGFG as of 1st April 2023.

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