Edited by Frederique Dahan
Chapter 14: Reforming an established secured transactions legal system: Why and how Morocco is approaching the challenge
As part of its many reforms of its banking and financial sector, the Kingdom of Morocco has decided to launch an in-depth reform of the secured transactions legal framework (droit des sûretés mobilières). This reform has two main objectives. First, the reform addresses a national need: it is intended to improve access to credit for Moroccan enterprises and, in particular, the small and medium enterprises which are a vital component of the Moroccan economy. Second, the reform falls within a national strategy to attract international businesses and to make Morocco a regional and international financial hub. The chapter examines the context and importance of the secured transactions reform and the key elements of such reform and how they can serve as a model for jurisdictions that share the legal tradition of Moroccan law and would also want to reform what is a cornerstone of any financial sector.
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