Othman Benjelloun's father was a large shareholder in a small Moroccan insurance company. Benjelloun took over in 1988, and built it into privately held RMA Watanya, a leading insurance company. He then used it to expand into banking. His publicly traded BMCE Bank is present in more than a dozen African countries due to a majority acquisition of Bank of Africa in 2010. BMCE shares fell in May as Benjelloun denied rumors of ill health. A downgraded rating from Moodys in October reflected increased credit risk due to expansion in sub-Saharan Africa. Benjelloun's net worth increased by $350 million from a year ago due to better performance by Morocco's insurance sector. His holding company, FinanceCom, has also interests in telecom, airlines and information technology. During the 1960s and 1970s, Othman would make strategic alliances with global automobile manufacturers Volvo and General Motors. He is also the chairman of Meditelecom along with being associated with TelefA?nica and Portugal Telecom. Benjelloun is a member of the World Union of Arab Bankers. Mr. Othman BENJELLOUN was Chancellor, from 1998 to January 2004, of Al Akhawayn University in Ifrane, appointed by His Late Majesty the King Hassan II.
In the field of Corporate Social Responsibility, Mr. BENJELLOUN has charged the BMCE Bank Foundation, which he created in 1995, with two main priorities; the promotion of education in rural areas, through the implementation of the Medersat.com Program, and environmental protection.
Mr. Benjelloun was awarded the title Officier de l’Ordre de Trône du Royame du Maroc, Commander of the Swedish Royal Order of the Polar Star, and decorated with the Medal of Commander of the National Order of the Lion of the Senegalese Republic.