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Good Corporate Governance Rules

Good Governance is Maroclear’s paramount concern

Good Corporate Governance Rules

After joining the most international standards of the financial sector and obtaining the CGEM’s CSR label in 2013, the Institution is committed to adopt the Moroccan Code of Good Governance Practices for Public Institutions and Organizations. An approach that forms part of the desire to comply with the main standards of good governance both nationally and internationally.


The governance of MAROCLEAR revolves around five founding pillars:


- Reliable and periodic communication of results and prospects in compliance with the regulations in force and the prerogatives of the management bodies;

- Strengthening internal control systems and the risk management policies;

- Definition of an unbiased system that is based on measurable performance criteria for the appointment, assessment and remuneration of managers;

- A functional and informational equity of the shareholders;

- The appointment of an independent board member.


As the guarantor of these good governance principles, MAROCLEAR relies on three committees: the Audit Committee and two internal Committees. The role of these committees is to ensure the smooth operating of strategic projects and optimal risk management.


The Audit Committee is the privileged interlocutor of all stakeholders in the control and monitoring process. It supports the Board of Directors by providing assurance on the reliability of the information provided to shareholders and on the quality of internal control.


Internal Committees enhance the performance and resilience of the Institution.



Executive Committee

This Committee oversees the Institution’s projects, monitors performance and results to adjust, if necessary, the various policies emanating from the strategic orientations of the Board of Directors and the Senior Management.



Security and Risk Management Committees

The Security and Risk Management Committees provide assistance to the Senior Management team and their missions are: propose security and risk management policies and procedures in compliance with the standards; manage the risk management system; review the risk mapping and the level of tolerance of the institution facing risks; monitor the implementation of risk management plans; ensure the security of people, information systems and assets of MAROCLEAR.