Agadir 24 | Agadir24
The vigilance services of the National Financial Information Authority have become involved in manipulations in the paths of subsidized bank loans, as it relates to the integrated program for supporting and financing enterprises, “Intilaaqah.”
This case erupted after beneficiaries disappeared after they withdrew funds within the framework of the integrated program to support and finance enterprises “Intilaaqah” and did not pay any installment of the total loan amounts they obtained, which precipitated the opening of an in-depth investigation into the matter.
In this context, research conducted by the Financial Authority’s vigilance monitors revealed that construction companies exploited the identities of people working for them in order to prepare files for loan applications through the aforementioned program, before exploiting them for the benefit of their activities.
The same research found that these suspicious companies, in light of their need to revive their treasuries and reduce their operational costs, resort to circumventing the public financing program and exploiting private individuals in order to request “Intilaaqa” loans, through sham projects to finance the purchase of small construction machinery and equipment.
According to what was reported by sources familiar with the progress of the investigation, the aforementioned companies benefited from the mechanisms acquired within their affiliated factories, and from amounts of financial support released to the benefit of the supposed beneficiaries, exceeding 50 thousand dirhams, in order to exploit it to revive their coffers, which are facing pressure from suppliers, suppliers and banks. .
The same sources confirmed that the observers’ research stopped at a group of imbalances in the processing of the files of applications for “Intilaaqah” loans, the course of which had been tampered with, including the reproduction of the feasibility studies themselves in the files, which contained false data regarding the expected costs, as well as the profits programmed for the three years. Subsequent to obtaining a bank loan.
This misleading information directly contributed to decisions to approve financing of files at the level of regional credit committees for examining and processing loan applications at banks, in addition to deliberately depositing applications with banking agencies on the outskirts of major cities, especially Casablanca.
This comes at a time when the loans granted by banks within the “Intilaaqah” program stabilized at 8.6 billion dirhams, while the number of beneficiaries reached 32 thousand beneficiaries, 17 percent of whom were women, while 17.5 percent of the loans distributed were concentrated in rural areas.
It is also noteworthy that the committee that manages this program includes as members the Ministry of Economy and Finance, the “Tamweelcom” Foundation, and the Bank of Morocco, and has recently reviewed the conditions and standards approved in the business financing program, with the aim of avoiding a group of imbalances related to the sustainability of the funded projects and keeping pace with them.
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