1. Under the provisions of this decree-law, an independent committee named ‘Grievances and Appeals Committee’ shall be established. The Cabinet shall issue a resolution, based on a proposal by the Board of Directors, establishing the committee’s formation, duration, mandate, and all procedures and rules related to adjudication of grievances and appeals, including fees due for consideration. 2. In the formation of the committee, the presence of one or more judges and two experts with competence in matters related to the work of such committee. 3. Nominated committee members by the Board of Directors shall not be members of the Board of Directors, nor holders of any position at the Central Bank or at any of the Licensed Financial Institution. 4. The chairman of the committee or any of its members shall have no interest with any party to the dispute, otherwise he shall be required to disclose such interest, and in such case another member shall be temporarily appointed to hear the presented dispute. 5. With the exception of the regulations, directives, instructions, policies, and regulatory and supervisory decisions of a general nature, the committee shall have sole and exclusive jurisdiction to adjudicate on grievances and appeals against any decisions, procedures and measures issued by the Central Bank in accordance with the provision of this decree-law. For the purposes of exercising its powers, the committee may take all or some of the following actions: a. Require any Person to appear before the committee to present and consider any evidence, testimony, information or statement. b. Hear the testimony of any witnesses, it deems appropriate, under oath. c. Commission any experts it deems appropriate to provide opinion on any matter relating to the dispute. d. Take whichever actions and issue directives it deems appropriate for discharge of its mandate. 6. A decision issued by the committee on the grievance or appeal shall be final and shall only be challenged at the Higher Federal Court within a period of twenty (20) working days from date of its notification. The Higher Federal Court may, upon request of the appellant, suspend the execution of the decision issued by the committee until it reaches its decision on the subject, if it deems that the appeal is based on genuine grounds and that execution of the committee’s decision would result in irreversible consequences. 7. Appeals, before the Higher Federal Court, against decisions that fall within the competence of the committee in accordance with the provisions of this article shall not be accepted before being challenged or appealed before the committee, and the grievance is adjudicated as the case may be. 8. Should the committee decide to reject or not accept the grievance or appeal, it may impose on the applicant a fine, not exceeding one hundred thousand (100,000) Dirhams. 9. The committee may suspend the implementation of the decision being grieved or appealed, if it deems necessary, until it reached a decision on the dispute. 10. The grievance or appeal against any decision before the committee shall not be accepted after the lapse of twenty (20) working days from the date on which the concerned party was notified thereof or his knowledge of such decision is proven with certainty.
Interpretation and application must be checked against the official text and current version.