AJARINVEST S.A. BECOMES THE FIRST COMPANY TO OBTAIN OPCI MANAGEMENT COMPANY STATUS IN MOROCCO
Rabat, July 25, 2019: On July 23, 2019, AjarInvest SA, a subsidiary of the CDG and CIH Bank, obtained approval from the Moroccan Capital Market Authority (AMMC = Autorité Marocaine du Marché des Capitaux) to operate as a management company for Real Estate Collective Investment Trust Funds (OPCI = Organismes de Placements Collectifs Immobiliers), thus becoming the first company to obtain OPCI management company status in Morocco.
OPCI management companies were granted regulatory approval shortly after the necessary regulatory framework was finalized, thereby taking a further fundamental step towards the effective launch of OPCIs in Morocco. AjarInvest's AMMC accreditation status marks the culmination of the efforts made by its management to build a quality file.
This achievement also reflects the regulator's confidence in the ability of the AjarInvest team to successfully carry out the OPCI management mission and the support of its two key shareholders; the CDG Group and CIH Bank. AjarInvest has been working since the beginning of the legislative and regulatory process to promote the development of the OPCI industry by supporting the Ministry of Economy and Finance and the AMMC in their discussions on the legislative and regulatory framework...