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# Bank Al-Maghrib Governor Sets 10% Target for Green Bond Holdings in Morocco's FX Reserves
- URL: https://www.theglobalbanker.com/bank-al-maghrib-governor-pledges-green-bond-holdings-10-percent-fx-reserves/
- Published: 2024-02-02T15:11:00.000Z
- Updated: 2026-10-02T12:53:29.000Z
- Description: Bank Al-Maghrib's governor said at a climate conference in Rabat on 2 February 2024 that the central bank has a long-term target of raising green, social and sustainable bonds from 7% to 10% of Morocco's foreign exchange reserves.
- Author: TGB Editorial Team
- Tags: ESG, MENA, #archive

Governor Abdellatif Jouahri of Bank Al-Maghrib, Morocco's central bank, said on 2 February 2024 that the institution has a long-term target of raising its holdings of green, social, and sustainable bonds to 10% of its foreign exchange reserves, up from a current allocation of approximately 7%. He was speaking in Rabat at a conference on the macroeconomic effects of climate change, jointly organised by Bank Al-Maghrib and Spain's Banco de España. 

#### CURRENT ALLOCATION

Morocco's central bank already holds approximately 7% of its foreign exchange reserves in green, social, or sustainability-labelled bonds. 

#### CLIMATE-RISK GUIDELINES

At the same conference, Jouahri said central banks would have to consider the impact of climate change in carrying out their missions, and that Bank Al-Maghrib was developing guidelines to help banks collect climate-risk data from major borrowers and assess the green share of their portfolios.