Morocco’s new securitisation law explained

· Morocco has fully revamped its securitisation law;

· In doing this, it borrowed from the best of Europe’s securitisation laws ;

· The new framework paves the way for Morocco to enter the Islamic finance market;

· Lawyers expect the securitisation vehicle to be the instrument of choice for securing foreign investments in Morocco.

Will Morocco become a new haven for securitisation and, more generally, alternative financing for the real economy?

In anticipation of a tightening regulatory environment for financial institutions in the wake of the regulatory tide that is spreading globally, and taking advantage of the experience gained from the market turmoil in the last couple of years, Morocco has fully revamped law 33-06 in relation to securitisation.

Following a ‘best in class’ approach, Morocco has taken the best of the securitisation laws of the so-called go-to European countries for securitisation and debt funds. ….