The Capital Market Authority (CMA) and the Supervisory Authority of Insurance and Social Welfare (ACAPS) in Morocco have signed a Memorandum of Understanding (MoU) in the field of supervision and auditing of the insurance sector. The MoU was signed by Abdullah Salim Al Salmi, CEO of the CMA and Othman Khalil El Alami, Acting Chairman of the ACAPS.
Through the MoU, the two sides will be able to enhance cooperation in the fields of insurance, information exchange, and technical system development. Among the goals of the MoU are to exchange expertise in the field of natural disasters, insurance risks, and technical systems used to audit and supervise insurance companies. It also aims to enhance coordination in the area of fighting money laundering and terrorist financing in the insurance sector.