Keywords: Bam
Bank Al-Maghrib (BAM) has announced a significant reduction in the rate of counterfeit banknotes in circulation for 2024, marking a major achievement in Morocco’s ongoing efforts to combat counterfeiting. The rate dropped to 1.5 counterfeit notes per million banknotes, a considerable improvement......
Morocco’s central bank, Bank Al-Maghrib (BAM), is spearheading the introduction of the e-Dirham, a Central Bank Digital Currency (CBDC) designed to accelerate the nation’s digital transformation. This initiative seeks to enhance financial inclusion, modernize payment systems, and establish......
Moroccan households saw a modest reduction in their debt burden in 2024, with the average debt-to-income ratio falling to 34%, down from 35% in 2023. The findings come from the 2024 annual financial stability report, jointly published by Bank Al-Maghrib (BAM), the Insurance and Social Welfare Control......
Bank Al-Maghrib (BAM), Morocco’s central bank, concluded 2024 as one of its most profitable years, recording a net profit of MAD 6.46 billion. This marks a 27% increase compared to the MAD 5.1 billion reported in 2023, despite rising operational expenses and economic challenges. Key drivers of......
Abdellatif Jouahri, Governor of Bank Al-Maghrib (BAM), Morocco’s Central Bank, emphasized the importance of international collaboration in advancing Islamic finance during the 23rd Forum on Islamic Financial Stability held in Rabat. The event, organized by BAM and the Islamic Financial Services......
Morocco and France are advancing toward a landmark agreement to protect Moroccan banks operating within Europe from the stringent effects of the European Union’s Capital Requirements Directive VI (CRD VI). The directive, a key part of the EU’s efforts to tighten financial regulations, limits......
Morocco’s central bank, Bank Al Maghrib (BAM), has decided to keep its benchmark interest rate unchanged at 2.25%, signaling a cautious approach amid significant uncertainties in both domestic and global economic conditions. The decision reflects the bank’s commitment to balancing economic......
Morocco has taken a bold step in promoting women’s economic empowerment through the launch of the WE Finance Code initiative. Spearheaded by Bank Al-Maghrib (BAM), the European Bank for Reconstruction and Development (EBRD), and the International Finance Corporation (IFC), the initiative aims to......
The Moroccan dirham demonstrated varied performance in foreign exchange markets during January 16-22, appreciating 0.6% against the US dollar while declining 0.5% against the euro, according to Bank Al-Maghrib (BAM). During this period, BAM reported no currency auction operations in the foreign exchange......
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