Strategic Framework for 2026
Since its adoption in 2021, the AMMC's commitment has allowed the authority to align its interventions with market developments and operator expectations. This approach enhances transparency by linking the achievements of 2025 with the key initiatives planned for 2026.
The action priorities for 2026 are structured around five key pillars of the AMMC's strategic plan for 2024-2028. These priorities aim to strengthen the foundations of an efficient and accessible market while actively supporting major transitions in sustainability, technological innovation, and financial inclusion.
Central to the AMMC's vision is the establishment of an efficient and future-oriented capital market that serves as a strategic lever for financing the real economy, safeguarding savings, and enhancing Morocco's competitiveness.
Key Action Areas
Pillar 1 – Development of an Efficient and Accessible Capital Market: This includes enhancing market financing and supporting the dynamics of the stock market.
Pillar 2 – Addressing New Challenges in Financial Innovation and Sustainability: The AMMC aims to contribute to the implementation of a sustainable finance framework and governance, support innovation to foster new financing solutions, promote financial inclusion, and enhance market efficiency while strengthening regional cooperation.
Pillar 3 – Strengthening Financial Education for Savings Mobilization and Investor Protection: The authority plans to expand the scope of financial education initiatives and consolidate the empowerment spectrum.
Pillar 4 – Adapting Supervision to an Evolving Capital Market: This involves reinforcing a risk-based supervisory approach, ensuring market integrity, protecting investors, and enhancing the effectiveness of anti-money laundering and counter-terrorism financing (AML/CTF) measures.
Transversal Pillar – Enhancing Internal Organizational Performance: The AMMC will continue its digitalization strategy and integrate artificial intelligence while strengthening internal competencies and corporate social responsibility (CSR) initiatives.
Review of 2025 Achievements
The year 2025 was marked by significant momentum in the capital market, reinforcing its role in financing the real economy. Notable developments included a more than doubling of bond issuance volumes and a nearly 70% increase in equity market activity, driven by three initial public offerings totaling 6 billion dirhams.
Collective investment management also saw substantial growth, with net subscriptions in mutual funds reaching 84.8 billion dirhams—almost double the level of 2024. Additionally, the securitization market experienced a significant increase, with amounts raised reaching 15.5 billion dirhams, compared to 2.4 billion dirhams the previous year.
Key achievements of the Moroccan Capital Market Authority in 2025 included: advancements in the regulatory framework for asset management, oversight of the futures market, support for fintech companies, enhanced international cooperation, diversification of financial education initiatives, ongoing professional empowerment efforts, intensified and digitalized controls, strengthened market abuse surveillance, continued commitment to AML/CTF, progress in digital transformation and data strategy implementation, and bolstered cybersecurity measures.
