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Deposit and Management Fund During Khaled Safir’s Era Achieved Record Profits Despite Hidden Losses and Unresolved Governance Issues
Since the appointment of Khalid Safir as General Manager in 2022, the Deposit and Development Fund has experienced a significant financial improvement. It moved from a loss of 2.022 billion dirhams in 2022 to a net profit of 4.974 billion dirhams in 2025. However, assessing its overall performance requires examining the quality of its investments and the sustainability of its profits, as accounting figures do not address governance challenges. This is particularly true in the tourism and territorial development sectors, which still suffer from losses. Despite reform measures and legislative improvements, some issues such as corruption cases and structural challenges remain unresolved. The fund still needs a comprehensive review to ensure alignment between financial results, governance, and sustainability.
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