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Morocco's Central Bank Enhances Security and Identity Verification with Innovative Digital Partnership

In a significant move to bolster security and streamline operations, Bank Al-Maghrib, Morocco's central bank, has entered into a groundbreaking partnership with the General Directorate of National Security (DGST). This collaboration, formalized through a protocol signed in Rabat, marks a pivotal......

EU Banking Reforms Spark Concern for Vital Moroccan Remittances

The European Union's latest banking regulations, initially designed to address post-Brexit financial concerns, have inadvertently raised alarms in Morocco. These new rules threaten to disrupt a crucial economic lifeline for the North African nation – remittances from its diaspora in Europe. In......

Saham Group's Strategic Move: Acquiring Société Générale Maroc

In a significant development for Morocco's financial sector, the Saham Group has received the green light to acquire Société Générale Maroc, a prominent banking institution. This strategic move, approved by the country's regulatory authorities, marks a pivotal moment......

Credit du Maroc Reaffirms Commitment to Anti-Corruption Standards with System Certification Renewal

In a significant move underscoring its dedication to ethical business practices, Credit du Maroc has successfully renewed the certification of its anti-corruption management system. This renewal, which aligns with the international standard ISO 37001, reflects the bank's ongoing commitment to combating......

Surging Liquidity Demand in Morocco: Central Bank's Strategic Response

Morocco's Banking Sector Faces Heightened Liquidity Needs In a recent report by Morocco's central bank, Bank Al-Maghrib (BAM), July saw a notable rise in liquidity demand within the country's banking sector. The average weekly requirement soared to MAD 125.3 billion, surpassing June's......

Moroccan Firms Shine in Forbes Middle East 2024 Rankings

Morocco's corporate landscape has made a remarkable impact in the Forbes Middle East 2024 rankings, with four companies earning prestigious spots among the top 100 listed firms. Attijariwafa Bank Group: A Financial Powerhouse Attijariwafa Bank Group, under the leadership of Chairman and CEO Mohamed......

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......

Moroccan Financial Landscape Shifts as Saham Finances Acquires Societe Generale Maroc

In a significant development that underscores the changing dynamics of the African banking sector, Morocco's Competition Council has given the green light for Saham Finances to acquire a controlling stake in Societe Generale Marocaine de Banques. This move, valued at over 8 billion Moroccan dirhams......

Morocco's Central Bank Spearheads Initiative to Curb Cash Dominance

In a bold move to address Morocco's burgeoning cash economy, the country's central bank, Bank Al-Maghrib (BAM), has established a high-level committee tasked with tackling the unprecedented surge in cash circulation. This initiative comes as Morocco grapples with a staggering MAD 430 billion......