MSCI, the global index provider, has released its 2026 Market Accessibility review for Morocco, maintaining a 'Neutral' assessment. The report acknowledges improvements in Morocco's stock market infrastructure but stops short of upgrading the status, which would be a prerequisite for potential reclassification to emerging market status.
Key factors cited include progress in settlement and custody systems, as well as increased foreign investor participation. However, MSCI flagged ongoing concerns about market liquidity, the efficiency of the trading platform, and regulatory transparency. The review is based on data as of June 2026.
The Moroccan capital market authority (AMMC) has been actively working to align with international standards, including adopting T+2 settlement and enhancing corporate governance. MSCI's cautious stance suggests that while the trajectory is positive, further structural reforms are needed before a full upgrade can be considered.
Market participants view the 'Neutral' rating as a signal that Morocco remains on the radar for potential reclassification, but no immediate changes are expected. The next annual review is scheduled for June 2027.
