Morocco

Financial Reporting Framework in Morocco

Banks required to use IFRSs

The Central Bank of Morocco (Bank Al Maghrib) requires that all banks and similar financial institutions must use IFRS for the accounting periods starting 1 January 2008.

The Moroccan Stock Exchange Law requires all companies listed on the Casablanca Stock Exchange other than banks and similar financial institutions to choose between IFRSs and Moroccan GAAP.

Related news

  • Update on accounting standards in Morocco

  • Aug 18, 2006

  • Following consultation with the banking and finance industry, the Central Bank of Morocco (Bank Al Maghrib) is developing a regulation that is expected to require Moroccan banks and other financial institutions to prepare their 2008 consolidated financial statements using International Financial Reporting Standards.

  • IFRSs are permitted for listed companies in Morocco

  • Jul 26, 2005

  • Under a revision to the Stock Exchange Law (Law 52-01), which took effect in May 2004, all companies listed on the Casablanca Stock Exchange with the exception of banks and other financial institutions have a choice of preparing their financial statements using International Financial Reporting Standards or Moroccan GAAP.

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