Europe seeks to block MRE transfers

Faced with the continuous increase in the transfer of funds from Moroccans residing abroad (MRE) to Morocco, the European Union is preparing to take a directive to reduce these transfers via Moroccan banks located in Europe.

MRE transfers exceeded 108 billion dirhams at the end of November and should reach more than 110 billion dirhams at the end of 2024. The continuous increase in these transfers to Morocco worries the European Union member countries , said Assabahwhich indicates that the authorities of these countries of residence of the MRE are working to “tighten the vice on the transfer channels in order to reduce the volume of funds from European Union countries to abroad”.