RESTRICTED
WORLD TRADE GATS/SC/57/Suppl.1/Rev.1
4October 1995
ORGANIZATION(95-2913)
Trade inServices
MOROCCO
Schedule ofSpecific Commitments
Supplement 1
Revision
(This isauthentic inFrench only)
_______________
This textreplaces theFinancial Services section contained inpages 7to12of
document GATS/SC/57.
_______________
Revised Moroccan Offer Concerning Financial Services
Financial Services
Achange inthecontrol ofacredit establishment providing services insubsector Aissubject
tonewapproval. With regard todelivery mode 4,financial services insubsectors AandBmaynot
beprovided bynatural persons.
Withregard todelivery mode 3,concessions aregranted onareciprocal basisandinaccordance
withthefollowing principles:
- Nolimitation onthesetting upofcredit establishments ortheopening ofbranches,
agencies, windows orrepresentative offices provided thatthelawsandregulations in
force arecomplied with.
- Limitation ontheparticipation offoreign capital inthecapital ofthelarge existing
banking establishments where suchparticipation would leadtothetakeover ofthe
establishment within themeaning ofArticle 24oftheBanking Actof6July1993.MOROCCO -SCHEDULE OFSPECIFIC COMMITMENTS
Modes ofsupply: (1)Cross-border (2)Consumption abroad (3)Commercial presence (4)Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
7.FINANCIAL SERVICES
A.Banking andother financial
services excluding insurance
(a)Acceptance ofdeposits and
other repayable funds from
thepublic
(CPC 81115-81119)(1)Unbound
(2)Unbound
(3)None, except asindicated inthe
horizontal section relating to
financial services.
(4)Unbound, except asindicated in
thehorizontal section.(1)None
(2)None
(3)None
(4)None
(b)Lending tofinance investment
inMorocco (CPC 8113*)(1)None
(2)Unbound
(3)None, except asindicated inthe
horizontal section relating to
financial services.
(4)Unbound, except asindicated in
thehorizontal section.(1)None
(2)None
(3)None
(4)None
*Theasterisk means thatthesubsector isan"extract from".
GATS/SC/57/Suppl.1/Rev.1
Page1GATS/SC/57/Suppl.1/Rev.1
Page2MOROCCO (continued)
Modes ofsupply: (1)Cross-border (2)Consumption abroad (3)Commercial presence (4)Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
(c)Lending tofinance
commercial transactions with
Morocco (CPC 8113*)(1)None
(2)Unbound
(3)None, except asindicated inthe
horizontal section relating to
financial services.
(4)Unbound, except asindicated in
thehorizontal section.(1)None
(2)None
(3)None
(4)None
(d)Other lending, including
consumer credit andcredit
cards (CPC 8113*)(1)Unbound
(2)Unbound
(3)None, except asindicated inthe
horizontal section relating to
financial services.
(4)Unbound, except asindicated in
thehorizontal section.(1)None
(2)None
(3)None
(4)None
*Theasterisk means thatthesubsector isan"extract from".MOROCCO (continued)
Modes ofsupply: (1)Cross-border (2)Consumption abroad (3)Commercial presence (4)Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
(e)Financial leasing
(CPC 8112)(1)Unbound
(2)Unbound
(3)None, except asindicated inthe
horizontal section relating to
financial services.
(4)Unbound, except asindicated in
thehorizontal section.(1)None
(2)None
(3)None
(4)None
(f)Allpayment andmoney
transmission services,
including credit, payment and
similar cards, travellers '
cheques andcheques
(CPC 81339)(1)Unbound
(2)Unbound
(3)None, except asindicated inthe
horizontal section relating to
financial services.
(4)Unbound, except asindicated in
thehorizontal section.(1)None
(2)None
(3)None
(4)None
GATS/SC/57/Suppl.1/Rev.1
Page3GATS/SC/57/Suppl.1/Rev.1
Page4MOROCCO (continued)
Modes ofsupply: (1)Cross-border (2)Consumption abroad (3)Commercial presence (4)Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
(g)Guarantees andcommitments
(CPC 81199)(1)None
(2)Unbound
(3)None, except asindicated inthe
horizontal section relating to
financial services.
(4)Unbound, except asindicated in
thehorizontal section.(1)None
(2)None
(3)None
(4)None
(h)Trading foraccount for
customers, whether onan
exchange, inanover-
the-counter market or
otherwise:
-Negotiable securities
(CPC 81321)
-Gold
(CPC 81339)(1)Residents mayacquire foreign
securities subject toprior
authorization inaccordance with
exchange regulations.
(2)Unbound
(3)None
(4)Unbound, except asindicated in
thehorizontal section.(1)None
(2)None
(3)None
(4)NoneMOROCCO (continued)
Modes ofsupply: (1)Cross-border (2)Consumption abroad (3)Commercial presence (4)Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
(i)Participation inissues ofall
kinds ofsecurities, including
underwriting andplacement
asagent (whether publicly or
privately) andprovision of
services related tosuchissues
(CPC 8119)(1)Unbound
(2)Unbound
(3)None
(4)Unbound, except asindicated in
thehorizontal section.(1)None
(2)None
(3)None
(4)None
(l)Provision andtransfer of
financial information, and
financial dataprocessing and
related software byproviders
ofother financial services
(CPC 843)(1)None
(2)None
(3)None
(4)Unbound, except asindicated in
thehorizontal section.(1)None
(2)None
(3)None
(4)None
B.Insurance andreinsurance
(a)Insurance (allbranches)
(CPC 812)(1)Unbound
(2)Unbound
(3)Obligation tohavearegistered
place ofbusiness inMorocco.
(4)Unbound, except asindicated in
thehorizontal section.(1)None
(2)None
(3)None
(4)None
GATS/SC/57/Suppl.1/Rev.1
Page5GATS/SC/57/Suppl.1/Rev.1
Page6MOROCCO (continued)
Modes ofsupply: (1)Cross-border (2)Consumption abroad (3)Commercial presence (4)Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
(b)Reinsurance (allbranches)
(CPC 81299)(1),(2)Establishment ofareinsurance
planintheframework ofthe
existing regulations on
insurance, reinsurance and
exchange, andsubject to
cession ofoperations tothe
national body responsible for
reinsurance.
(3) None
(4) Unbound, except asindicated in
thehorizontal section.(1),(2)None
(3) None
(4) None