Bank Al-Maghrib (BAM), Morocco's central bank, has reported that stricter European Union regulations on anti-money laundering and counter-terrorism financing are making it more difficult for Moroccans living abroad (MRE) to transfer funds to Morocco. The statement was made during a recent press briefing in Rabat.
According to BAM officials, the enhanced due diligence requirements imposed by EU financial institutions have led to increased documentation and verification processes. This has resulted in delays and, in some cases, rejections of transfers, particularly for smaller amounts that were previously processed more easily.
The central bank noted that the volume of remittances from MREs remains a crucial source of foreign currency for Morocco, totaling over 115 billion dirhams in 2025. However, the new rules, part of the EU's broader effort to combat financial crime, have created friction for many senders who lack formal banking histories or face language barriers.
BAM is in discussions with European counterparts to find solutions that balance security concerns with the need to facilitate legitimate transfers. The bank advises MREs to ensure their documentation is up to date and to use formal banking channels to avoid disruptions.
