Morocco Banking Mediator Signs Agreements to Expand Consumer Dispute Resolution Services
Rabat, The Gulf Observer: Morocco’s banking mediator on Thursday signed two partnership agreements aimed at facilitating the resolution of disputes between consumers and financial institutions through mediation, reducing the need for court proceedings.
The agreements were concluded with the Moroccan Federation for Consumer Rights and the National Federation of Consumer Associations to broaden access to banking mediation services through an extensive network of consumer protection associations across the country.
The signing ceremony took place during a board meeting chaired by Abdellatif Jouahri, Governor of Bank Al-Maghrib. The session was attended by Bouazza Kherrati and Wadie Madih.
According to a statement issued by the banking mediator, the agreements are intended to encourage the use of mediation mechanisms to resolve disputes involving customers and financial institutions, including banks, credit companies, payment institutions and microcredit associations.
Abdelfattah Azraq said the initiative seeks to make mediation services more accessible to citizens across all regions of Morocco. He noted that consumer associations would assist individuals in understanding procedures, guiding them through the process and enabling online complaint submissions through links integrated into the associations’ websites.
Azraq added that the system would help reduce the need for citizens, particularly those living in remote areas, to travel long distances to file complaints.
The banking mediator, established by Morocco’s banking sector under the supervision of Bank Al-Maghrib, operates as a nonprofit institution that settles disputes through voluntary, free, confidential and out-of-court mediation.
Bouazza Kherrati stated that the majority of banking-related disputes can now be resolved more effectively through mediation. Referring to data from the past two years, he said that “99 percent of cases were resolved in a short time” without resorting to lengthy legal procedures, helping consumers recover their rights without incurring court costs.
Among the most common complaints are poor customer service, unauthorized account openings, refusal to close bank accounts, loan repayment disputes and unexplained banking charges.
Kherrati further noted that the federation’s network of around 70 member associations nationwide would contribute to bringing mediation services closer to consumers.
Wadie Madih said the agreements reinforce existing cooperation and promote mediation as an effective alternative to litigation. He added that more than 50 to 60 consumer service centers across Morocco would assist in receiving, monitoring and resolving complaints.
