Fourth Financial Sector Support Programme (PASFI IV)

The Fourth Financial Sector Support Programme (PASFI IV) aims to build up the capacities of the Moroccan financial system. It consists in adjusting the institutional and regulatory framework of the financial sector with a view to strengthening the supervisory bodies’ working capacity, reorganizing public finance institutions, reinvigorating capital markets, and strengthening institutional savings. The Programme, which is in line with the continuity of previous PASFIs, and is expected to further open the economy by modernizing the regulatory framework of the financial sector and mobilizing institutional savings internally and externally, with a view to increased private investment in the productive sectors. PASFI IV actions focuses on four components, namely: (i) adjusting the institutional and regulatory framework of the financial sector, (ii) reorganizing public financial institutions, (iii) invigorating the capital market; and (iv) strengthening institutional savings.