Casablanca Finance City Authority (CFCA) is a limited company born from a public-private partnership aiming to position Casablanca as a regional financial hub in Africa. CFCA was established in July 2010 through a roundtable meeting of high-level representatives of the kingdom’s financial sector, including the Central Bank of Morocco, the main Moroccan banks, the central securities depository, the insurance industry and the Casablanca Stock Exchange.
The CFC Commission, in charge of granting the CFC status, is chaired by the Minister of Finance and Economy and is composed of the following members:
- The Chief Executive Officer of Casablanca Finance City
- The Director of Treasury and External Finance
- The President of L’Autorité Marocaine du marché des capitaux (AMMC)
- The President of l’Autorité du Contrôle des Assurances et de la Prévoyance Sociale (ACAPS)
- A representative of Bank Al Maghrib;
- A representative of Casablanca Finance City Authority
The main missions of CFCA are:
- The implementation and management of Casablanca Finance City’s development strategy
- Institutional promotion of CFC to international institutions and investors
- Developing an attractive “CFC value proposition” for international institutions and investors
- Drive new reforms to improve the business environment
- Advise and support companies with the CFC status.
These missions are subject to a regular monitoring by a steering committee composed of the Minister of Finance and Economics, the Governor of Bank Al Maghrib and delegated representatives of major national financial institutions and authorities.