The National Authority for Probity, Prevention and Fight against Corruption (INPPLC), the Insurance and Social Security Supervisory Authority (ACAPS) and the Moroccan Insurance Federation (FMA) have signed a framework agreement to promote transparency and the prevention of corruption in the insurance sector.
The agreement provides for:
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staging training programmes, joint seminars, awareness campaigns
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carrying out studies, research and risk mapping
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supporting insurance companies in introducing systems for preventing and combating corruption
The agreement was signed at a meeting during which the INPPLC and the United Nations Office on Drugs and Crime (UNODC) presented the results of a study undertaken to identify the areas most exposed to corruption risks and to assess the degree of vulnerability of related procedures.
The study also aims to propose operational prevention measures that contribute to strengthening the overall stability of the sector, consolidating its regulatory framework, and facilitating the gradual adoption of a risk-based approach, in line with international standards. It highlights the need to strengthen monitoring mechanisms and adapt vigilance systems to support the emergence of new risks.
The study was based on an international benchmark of experiences conducted in several countries and included insurance and reinsurance companies.
Collaboration
The president of the INPPLC, Mohamed Benalilou, emphasised the importance of this initiative in promoting integrity in the Moroccan financial sector. He called for a collective and coordinated approach among all stakeholders in preventing and combating corruption, in line with national guidelines and international commitments.
ACAPS president Abderrahim Chaffai highlighted that the study provides an objective basis for developing a clear sectoral action plan. He noted that the insurance sector, although less exposed to corruption according to national and international statistics, still needs to strengthen its prevention mechanisms.
FMA deputy vice president Bachir Baddou spoke of the importance of promoting a culture of integrity in the insurance sector and restoring trust, believing that this is not just a formal administrative procedure, but represents a platform for joint work aimed at strengthening transparency and developing tools to prevent corruption risks.
Mr Baddou also highlighted the diversity and complexity of stakeholders in the insurance sector, which requires special vigilance and appropriate prevention mechanisms.