MSCI Global Market Accessibility Review 2026 - Morocco

MSCI keeps Morocco Frontier in 2026: strong on ownership rules and custody, weakest on settlement plumbing and English disclosure.

Not a law, but the benchmark that drives index-tracking capital. Morocco stays classified FRONTIER in the 2026 review (no upgrade, no downgrade; ~11% of the MSCI Frontier Markets index weight). Highest ratings: investor registration & account setup, foreign ownership limits, custody, CSD, availability of instruments. Weakest: clearing & settlement (no nominee accounts, no overdrafts for foreign investors). Other flags: corporate disclosures/regulations not systematically published in English; restricted offshore MAD trading; onshore FX must be linked to a securities trade; high trading costs from limited broker competition; restrictions on off-exchange transactions. Six other frontier markets improved in 2026; Morocco did not move.