Casablanca breaks into the world’s top 50 financial centres

Thursday 03 - 12:42

Casablanca has strengthened its position on the global financial map after climbing seven places in the latest edition of the Global Financial Centres Index (GFCI), ranking 49th worldwide with a score of 700 points.

The Moroccan city had previously ranked 56th with 703 points. Although its numerical score declined slightly, its improved position reflects stronger relative performance compared with several competing financial centres that recorded weaker evaluations in the latest assessment.

The Global Financial Centres Index, produced by Z/Yen in partnership with the China Development Institute, combines professional assessments with quantitative indicators to measure the competitiveness of financial hubs around the world. The latest edition drew on the views of more than 5,200 financial professionals and incorporated 147 quantitative measures from international sources.

Casablanca also maintained a prominent position within the Middle East and Africa region, where it ranked fourth. Dubai led the regional standings in seventh place globally, followed by Abu Dhabi in 21st and Doha in 48th after a significant rise of 14 positions.

The regional picture was generally more challenging, with the average score of financial centres in the Middle East and Africa falling by around 1.23%. Only a small number of centres managed to improve their scores, including Johannesburg, Doha and Kuwait City.

Casablanca’s progress was particularly notable in financial technology. The city climbed 20 places in the fintech ranking to reach 50th among 116 financial centres, scoring 678 points compared with 672 previously.

The improvement places Casablanca among the financial hubs that have made some of the largest advances in fintech competitiveness. The sector has become increasingly important as financial institutions accelerate digital transformation, expand electronic services and adopt new technologies to improve access to finance and efficiency.

The index also classifies Casablanca as a diversified financial centre, a category that includes cities with broad international connections and a relatively wide range of financial activities. Other major centres in this group include Seoul, Kuala Lumpur, Abu Dhabi and Beijing.

Another positive indicator was the perception of Casablanca among professionals surveyed for the index. The city received an assessment of 806 points from respondents, significantly higher than its final overall score. This helped Casablanca rank fifth globally on the index’s reputational advantage measure, which compares professional perceptions with quantitative evaluations.

The outlook for Casablanca is also encouraging. The city was included among 15 financial centres that respondents expect to become more important over the next two to three years, receiving 23 mentions in the survey.

The latest results highlight Casablanca’s growing international profile as a financial and business hub connecting Morocco with African, European and other international markets. Maintaining this momentum will depend on continued investment in financial technology, diversification of financial services, international connectivity and the ability to attract new investment.

As competition between global financial centres intensifies, Casablanca’s progress suggests that its future competitiveness will increasingly depend not only on traditional banking and financial services, but also on digital innovation, international investment and the development of a modern financial ecosystem.