King Mohammed VI is preparing to mark twenty years on the throne of Morocco, a North African country seen as a regional island of stability but bedevilled by financial inequality. The kingdom’s towns and towns have been decked out with flags to mark the anniversary on Tuesday, while newspapers have released editorials praising the monarch’s accomplishments. But recent weeks also have seen a wave of criticism on the “Moroccan decline”, with commentators citing financial stagnation and its crippling results on the young. When the throne was taken by him in 1999 following a death of his dad Hassan II, the then-35-year-old inspired great expectations, generating the nickname “king of the poor”.
In his first conversation as king he detailed the ills facing the country: poverty, unemployment and sociable inequality. Royal advisor Omar Azziman, in a rare interview with AFP, accepted that there is “dissatisfaction” in the united states. As the Arab Spring swept across North Africa and over and above, Mohammed VI nipped swelling protests in the bud by offering up constitutional reforms and guaranteeing to suppress his power. The country’s long-marginalised Rif region was rocked by a few months of protests from late 2016, sparked by the death of a fisherman and spiralling into a movement demanding more development and railing against corruption and unemployment.
Several hundred protesters are thought to have been arrested and tried regarding the the presentations, but no standard figures are available. While the ruler has pardoned around 250 of them, rights groups noticed regulators’ response to the Hirak protest movement as a step backwards. Amnesty International regularly denounces “arbitrary” arrests and detentions in Morocco and increases doubts within the fairness of its judicial system. But relating to Abdellatif Menouni, a constitutional scholar and royal consultant since 2011, under Mohammed VI “most of (what is needed) in conditions of democracy has been done, it just must be deepened”. For analyst Mohamed Tozi, Morocco’s stability in a tumultuous region is an integral performance sign given the regional context.
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But even though, seven out of ten young Moroccans, viewing few potential clients, say they would like to emigrate, according to the Arab Barometer study. The International Monetary Fund has urged the kingdom to move towards a “more inclusive” model of development and tackle inequality, saying it had been slow to push through reforms. Mohammed VI, who retains control over the country’s most strategic sectors, has overseen an financial strategy focused on attracting foreign investment, from streets and international airports to the vast Tanger Med interface. But even he has admitted the failings of the development model “struggling to meet up with the pressing demands of the citizens”.
The broker arranges a competitive public sale, asking several banks to give them the agreement terms for their suggested LOBO, given some variables. The banks bid then, and the broker selects the best deal for the debtor. Both treasury advisors and brokers (sometimes straight, or indirectly) get paid for their work.
The LA is their customer. They are being paid by, therefore should represents the needs of, the customer. I understand from my very own experience that banking institutions pay commissions to brokers. We realize from the butler statement that agents pay treasury advisors commissions also. I’ve added these payments in red below.
Notice both the broker and the treasury advisor are being paid twice. Once by the customer (the LA), and then again by the lender (the bank). In the entire case of the treasury consultant the lending company payment comes indirectly from the broker. This is an obvious conflict of interest. It’s clear that the bigger the banks revenue on the offer (so the worse the offer is for the LA), the larger the fee the broker can be paid by them. The broker pushes The lender to pay a larger payment if the want to get the deal. The broker is scratching their mind.
Should they get the best offer for their ultimate customer the LA, or go for the lender paying them the largest commission, which is likely to be the worst deal for the LA? Would the LA even understand whether they are getting the best offer or not? It isn’t always apparent which of some proposed loans; with different interest rates slightly, up front teaser rates and maturities; would be the best.
What about the treasury advisors? Are they going to visit agents who they trust to run a good public sale and get the best offer, or to ones who will give them the highest commision? And the ones who provide them with the highest percentage, well aren’t they probably the ones getting the best commission from the bank (which again may very well be a poorer deal for the LA)?