Circulars related to the payment institution status have been published recently by Al-Maghrib Bank and specifies the details of implementation of the “banking law” dated 5 March 2015 in Morocco.
1 – What does it mean?
It’s a new payment instrument available 24/7/365 and resulting in the immediate or close-to-immediate interbank clearing of the transaction and crediting of the payee’s account with confirmation to the payer. (Definition of the Euro Retail Payment Board (ERPB)
Jonathan Hill, former European Commissioner, took stock of his achievements on 12 July, during a speech at the Bruegel Institute. He drew up the work carried out during his mandate as Commissioner for Financial Stability, Financial Services, and Capital Markets (FISMA) and detailed upcoming challenges for the institution.