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Global Access: CIH BANK’s CODE 212 Transforms Banking for Moroccans Abroad
CIH BANK Unveils Innovative Remote Banking Service for Moroccan Expatriates
In a groundbreaking move, CIH BANK has launched CODE 212, a cutting-edge remote banking service designed to cater to the needs of Moroccans living abroad. This innovative service allows users to open and manage bank accounts online, facilitating seamless and instant money transfers from European accounts.
According to a statement from CIH BANK, CODE 212 aims to simplify banking for the Moroccan diaspora by enabling full online account management without the need for in-person branch visits. The service offers free account maintenance and bank card fees for the lifetime of the account, making it both convenient and cost-effective.
A standout feature of CODE 212 is its foreign account aggregation service. This enables users to consolidate and manage all their bank accounts—whether with CIH BANK or other European financial institutions—through the CIH Mobile application. Users can add European accounts to their CIH Mobile space, view real-time balances and transaction histories, and make instant, fee-free transfers from their European accounts to their CIH BANK accounts.
To further support this service, CIH BANK has established a dedicated Customer Relations Center for Moroccans worldwide. This center provides comprehensive information on CODE 212 and assists with any inquiries, ensuring that expatriates have the support they need to manage their finances effectively.
This new service builds on CIH BANK's recent technological advancements. In March, the bank partnered with Google to introduce Google Pay in Morocco, enabling Mastercard cardholders to make contactless payments via Android smartphones and Wear OS devices. This followed the bank’s introduction of Apple Pay in July 2023, making it the first Moroccan bank to offer this service.
CIH BANK's commitment to innovation and customer service is reflected in its strong financial performance in 2023. The bank reported a 9.3% increase in consolidated net income, reaching MAD 776.9 million, and a 27% growth in net banking income, totaling MAD 4.46 billion. The bank continues to play a crucial role in financing the national economy and promoting financial inclusion, particularly for women and young people, while also expanding its branch and ATM network.
With CODE 212, CIH BANK is not only simplifying banking for Moroccans abroad but also setting a new standard for remote banking services. This initiative underscores the bank's commitment to leveraging technology to enhance customer experience and provide accessible financial services to all Moroccans, regardless of their location.