Moroccan Bank Investigates Officials Over Suspicious Credit Facilities

A prominent Moroccan banking group is actively investigating allegations that its officials facilitated credit lines using potentially fraudulent documents. The central risk management department in Casablanca has initiated a swift response following internal audit findings.

These audits reportedly uncovered the involvement of officials in bank branches located in Casablanca, El Jadida, and Marrakech. They are accused of trading credit facilities, including short-term "cash facilities," for clients, both individuals and companies. These facilities were allegedly granted based on financial statements and documents suspected of being forged.

Initial inquiries suggest that some bank employees developed relationships with contractors and company managers, often through intermediaries like accountants. These connections allegedly helped clients transfer their accounts and secure credit facilities. The internal audit identified a significant role played by intermediaries in misleading loan processing departments by submitting falsified financial data for clients. This allowed some beneficiaries to obtain substantial amounts, exceeding 500,000 dirhams (approximately $50,000 USD), before disappearing and ceasing repayments.

Several banking officials have reportedly been suspended and stripped of their administrative powers pending the outcome of the investigation. This probe, conducted by the central risk management department in coordination with the human resources and legal departments, aims to uncover the full extent of the alleged misconduct. The investigation is examining specific cases, including a road transport company in Casablanca that allegedly obtained significant credit facilities through fabricated transactions and a questionable commercial lease for a gas station.