The launching ceremony of a tourist investment Fund took place on June 14, 2006 in Rabat, in the presence of Mr Adil Douiri, the Minister of Tourism, Handicraft and Social Economy, and Mr Fattahallah Oualalou, the Minister of Finance and Privatization.

The first tourist investment fund is put in place by the CDG, the Popular Central Bank and Attijari Wafa Bank.

The 2 nd investment Fund which was announced during that meeting is that of BMCE-Bank.

Such funds whose target-size varies between 2,5 and 5 billion DHS, will hold tourist assets directly or by means of ad-hoc structures.

On that occasion, Mr Douiri presented the national tourist program, "the 2010 Vision", to the institutional investors, putting much emphasis on the contribution of these two funds in the realization of Morocco's strategy in the field of tourism.

For his part, Mr Oualalou referred to a series of measures which would encourage the insurance societies to participate in this national program. Besides the simplification of the procedures, it is planed to "exempt the insurance-agents from renewing annually their permission application for the coverage of technical "deposits" concerning the invested assets in "the 2010 Vision".

They will be permitted also to use, under some conditions, a part of the assets of their frozen accounts in order to invest them in the national tourist program.

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