Morocco consolidates its diplomatic success at the head of the international forum of sovereign wealth funds.
Morocco has achieved a significant diplomatic milestone by securing leadership of the International Forum of Sovereign Wealth Funds (IFSWF). Obaid Amrane, CEO of Morocco's Ithmar Capital, was elected as chair of the organization for a three-year term. This appointment underscores Morocco's growing influence in global finance and its commitment to fostering international cooperation among sovereign wealth funds. Ithmar Capital, formerly known as the Moroccan Fund for Tourism Development, has evolved into a strategic state-owned enterprise with a broader mandate to cover all productive sectors of the Moroccan economy. With committed capital of 15 billion dirhams ($1.8 billion), Ithmar Capital plays a crucial role in mobilizing national and international investment. This leadership position at IFSWF allows Morocco to shape discussions on best practices, transparency, and responsible investment among sovereign wealth funds globally. It also provides a platform for Morocco to showcase its economic potential and attract further international investment.
meli77
Morocco consolidates its diplomatic success at the head of the international forum of sovereign wealth funds.
Morocco has claimed his diplomatic leadership on the international stage at the Annual Summit of the International Forum of Sovereign Wealth Funds (IFSWF), held in Muscat from 3 to 6 November. Thanks to the presidency renewed Ithmar Capital, the Board of Directors of the organization for a second term of three years, the Kingdom continues to play a central role in the redefinition of the global strategies of sovereign wealth.
Under the patronage of HH Sayyid Theyazin bin Haitham Al Said, the crown prince of the Sultanate of Oman, the event brought together over 200 representatives of sovereign wealth funds and multilateral institutions from more than 50 countries. The theme of this edition, "To adopt the change and to build a future resilient," has helped to advance the collective responses to global challenges such as the energy transition, artificial intelligence, and the management of global policies in a context of rapid change.
A diplomatic role key to a Moroccan influence
The presidency of Ithmar Capital within the IFSWF illustrates the commitment of Morocco to promote inclusive global economic governance and proactive. Since his election in 2021, Ithmar Capital, under the direction of Obaid Amrane, has amplified the voices of emerging economies and Africa, thus strengthening South-South cooperation in the field of sovereign wealth.
Obaid Amrane has played a decisive role in the structuring of the strategic priorities of the IFSWF, strengthening the attractiveness of the Forum while promoting the accession of new members, such as the Ghana Petroleum Funds and the Maharlika Investment Corporation of the Philippines, thus allowing Morocco to position itself as a player in the pivot of the international discussions on key issues such as sustainable finance, technological innovation, and the energy transition.
This diplomatic success confirms the ability of Morocco to forge strategic links between the continents and to focus attention on global priorities such as the energy transition and sustainable development. By positioning the sovereign wealth funds as a vital part of the economic transformation, Morocco consolidates its image as a visionary leader.
Strategic debates and international alliances
The exchange of Muscat has highlighted the importance of sovereign wealth funds as a catalyst of economic resilience in the world. The discussion of innovative approaches to integrate leading-edge technologies and ensure responsible investment, aligned to the objectives of climate and societal change.
Among the prominent figures present was his EXCELLENCY. Salim Al Aufi, minister of Energy and Minerals of Oman; Abdulsalam bin Mohammed Al Murshidi, president of the sovereign wealth fund of Oman; and Yan Liu, a representative of the IMF. Private sector leaders, such as Robert Smith of Vista Equity Partners, Antonio Gracias of Valor Equity Partners, and Elon Musk, speaking at a distance, have enriched the debate with their expertise on technological innovation and artificial intelligence.
Strategic positioning for the future
The Moroccan presidency of the IFSWF reflects a major diplomatic success, confirming the ability of the Kingdom to occupy a central place in economic forums in the world. This leadership allows Morocco to promote cooperative solutions in the face of global challenges while strengthening its influence in strategic areas such as green investment and emerging technologies.
Through his leadership, Morocco once more demonstrates his vocation to the shaping of an economic future that is resilient and inclusive, reinforcing its status as a bridge between nations and continents.
