King Mohammed of Morocco appointed Mohamed Benchaaboun, a prominent banker, as the new economy and finance minister on Monday, according to a statement from the Royal Cabinet.
Mr Benchaaboun succeeds Mohamed Boussaid, who was dismissed by the king on Aug. 1, three days after the monarch urged action to tackle Morocco's pressing social and economic problems and said the government should do more to boost investment.
Mr Benchaaboun has been serving as head of Morocco's Banque Centrale Populaire (BCP), one of the North African country's three biggest lenders.
The new minister was appointed at the suggestion of prime minister Saad Eddine El Othmani as the constitution stipulates, the statement said.
It also said King Mohammed had approved a proposal from Mr El Othmani to scrap the state secretariat for water, whose portfolio will be transferred to the ministry for equipment, transport, logistics and water. It said the move would improve management of water supplies.
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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
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Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
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The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
