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Morocco's digital transformation: Blockchain and AI as catalysts for economic growth

Morocco is making significant strides in establishing a vibrant digital economy through its ambitious Digital Morocco 2030 strategy. This initiative aims to modernize the nation’s economy by leveraging blockchain technology and artificial intelligence (AI), addressing longstanding challenges that......

BBVA gains approval for Banco Sabadell acquisition in Morocco

Spain’s second-largest bank, BBVA, has received approval from Morocco's central bank, Bank Al-Maghrib, for the indirect change in control of Banco Sabadell’s operations in the country. This development marks a significant step in BBVA's broader strategy to enhance its presence in......

Morocco's grain harvest forecast: slight increase amid ongoing water crisis

Morocco's central bank, Bank Al-Maghrib (BAM), anticipates a modest rise in the country's grain harvest this year, though outcomes are expected to fall short of government projections. In a recent press conference, the Governor of BAM, Abdellatif Jouahri, revealed that the estimated grain harvest......

Growing concerns over digital fraud in Morocco's cryptocurrency landscape

In a troubling development, the Moroccan government has issued a warning regarding a fraudulent account on X (formerly Twitter) impersonating Prime Minister Aziz Akhannouch. This fake account has been promoting a fictitious Moroccan cryptocurrency, raising alarms about the increasing sophistication of......

Bank Al Maghrib issues alert over fraudulent investment platform

Bank Al Maghrib (BAM), Morocco’s central bank, has released an official warning against fraudulent media content promoting a fake investment platform falsely attributed to the bank. According to BAM, the content illegitimately uses the bank’s identity and the image of its governor, likely......

Morocco’s economy set for 5% growth in 2025 amid rising FDI and tourism boom

Morocco’s economy is forecasted to grow by 5.0% in 2025, up from 3.3% in 2024, despite challenges posed by a weak agricultural sector, according to a report by Fitch Solutions published on February 26. This revised forecast, down from an earlier projection of 5.6%, reflects “emerging signs......

Morocco’s crypto boom: 6 million citizens embrace digital currencies

The allure of cryptocurrency is spreading rapidly in Morocco, with 6 million individuals—approximately 16% of the population—owning digital assets as of 2024, according to data from French broker HelloSafe. This marks a staggering 60% increase over the past five years, with 2.5 million new......

Morocco deepens financial markets with interbank forward market launch

Bank Al-Maghrib (BAM), Morocco’s central bank, has officially launched an interbank forward market for foreign exchange swaps and overnight index swaps (OIS) tied to the Moroccan Overnight Index Average (MONIA). This initiative, which began operations on February 19, marks a significant step in......

6 Million Moroccans Embrace Cryptocurrencies Despite Strict Regulations

Morocco is witnessing a significant rise in cryptocurrency adoption, despite stringent restrictions imposed by the central bank on digital asset transactions. A recent report by the financial services platform "HelloSafe" highlights the increasing number of Moroccans engaging with cryptocurrencies,......