Morocco’s apex bank, third African institution to join the bank of central banks

MOROCCO – The administration council of the Bank for International Settlements (BIS), known as the bank of central banks, has invited Morocco’s central bank, Bank Al-Maghrib, to join its network. Morocco’s membership makes it the third African country to join the network, after Algeria and South Africa. “Reviewing membership at regular intervals ensures that the membership base remains in keeping with the Bank’s global profile and its mandate to promote global monetary and financial stability,” said the president of the German central bank, Bundesbank, and Chair of the BIS Board,…

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