VOL. XXXVI

NO. 46

16-AUGUST-1993

Financial and Banking News

REGIONAL BANKING

King Hasan Orders Audit Of Loss-Making State Firms

King Hasan of Morocco has told his cabinet to arrange a full study ofstate-owned companies so as to give a clear picture of their financial health.In a letter to a cabinet meeting held on 5 August, the King said that the statecompanies "should no longer be a burden on the tax payer but on thecontrary a source of profit for everyone." He said the audit, which shouldbe...