It is not a precedent, and it is not the first exposure of its kind. This happened in an incident similar to an Indian investor in 2002, and another event occurred in 2018, and the days are still repeating themselves. Society, the national economy and the banking system are still shocked by new issues, despite the difference between today and yesterday And, despite the existence of a strong electronic system, and the presence of a link to the systems shows all incoming and incoming!
The issue of NMC's exposure poses many critical questions, and despite our absolute confidence in the ability of our banking system to deal with this exposure and get out of it with minimal losses, with its high solvency, and what it possesses of financial fenders, capable of overcoming such problems, We are talking about billions of dirhams. So did the banks perform their basic and intuitive duties in order not to fall into such a dilemma, and was the credit inquiry about the group’s status by the lending banks, and did they take adequate guarantees before granting these loans, or did the granting of the financing take place only based on the name And other things we might not know ?!
Where are the boards of directors of banks, and did these boards agree to funds with these huge sums, based on the name also without making sure of all matters related to ensuring that there are sufficient assets? If this is what happened, then this is a real catastrophe, especially since we are witnessing most of the banks ’boards with their strength and empowerment, and their keen interest in the bank’s funds and the public interest, and we never doubt that, but what happened is really strange, surprising and astonishing at the same time!
Certainly it is a direct responsibility of the risk departments in these banks, so where is it from what happened, ask the small national companies, how do these departments deal with them, and how they tighten them to the extreme, and even give them financing at high prices, where are their conditions and hardening them from this group, and how many national companies The little girl who could have benefited from these billions that were given to that group, can we imagine the number ?!
It is true that there are more than 91 lenders to the group, but the largest percentage was local entities and banks, and here we have electronic systems, a link between banks and the central bank, and credit information is enough to show the credit status of any customer if the risk departments of these banks do their part as they should!
After this shock, I believe that the time has come for the risky resettlement of banks ’banks in the form of a binding decision by the central bank, it is a national service in the first place, and protection of state funds from practices that were previously repeated, and no one guarantees that they will not be repeated in the future, practices from people who do not They have a sense of belonging to their institutions and to this country, and they do not have the job trust, and because of these practices the reputation of this important vital sector has been damaged, the state's economy has been damaged, and we have lost billions of dirhams, no one will be more keen on the state's money than its sons, so let's give them this opportunity, especially as there are national competencies You may hold this position, But it leaked out of this sector, especially after the many mergers that recently took place between banks, and now it is time to return these citizens and rely on them.
Yes, mergers between banks contributed to ending the future of Mwatana competencies, they had to be preserved, and given them the opportunity to occupy all the functions of risk management in banks, so they must be quickly recollected, as this matter has become unbearable for delay!
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