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AI Adoption Drives 30% Efficiency Gain in Morocco's Banking Sector

A groundbreaking study of Morocco's three largest banks reveals substantial performance improvements following artificial intelligence implementation, with operational processing times reduced by 30% across urban and rural branches. The comprehensive research, conducted by Mohammed V University......

Saham Group Completes €745 Million Acquisition of Société Générale’s Moroccan Subsidiaries

Saham Group has finalized its acquisition of Société Générale’s Moroccan banking and insurance subsidiaries, marking a significant milestone for the company and a notable return to the financial sector for its founder, Moulay Hafid Elalamy. The transaction, valued at......

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......

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......

Holmarcom Solidifies Dominance in Moroccan Banking Sector

In a strategic move consolidating its position in the Moroccan financial landscape, Holmarcom, the renowned conglomerate, has finalized its acquisition of Credit Agricole's entire stake in Credit du Maroc, a major banking institution in the country. This transaction grants Holmarcom an impressive......

Russia's African Ambitions: Exploring Opportunities in the Banking Sector

In a move that could potentially reshape the financial landscape across the African continent, Russia has expressed keen interest in establishing representative offices of Russian banks in various African nations. This revelation came directly from Maria Zakharova, the spokesperson for the Russian Ministry......

Bank Al-Maghrib: 145 Bank Branches Closed Their Doors in 2023

In the digital era where convenience is paramount, the Moroccan banking sector experienced a notable transformation in 2023. According to a report by Bank Al-Maghrib, the nation's central bank, 145 bank branches ceased their physical operations, while only 42 new branches emerged, resulting in a......