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  • Standard Chartered Bank Eyes Expansion into Morocco, Reversing African Divestment Trend
    9 April, by Sylvanus

    After expanding its activities in Egypt, a major British banking group intends to establish itself in Morocco as part of an expansion plan in Africa.
    While it has been disinvesting on the African continent, Standard Chartered has recently made a surprising decision. The British bank is considering setting up in Morocco. "Just as we have expanded our presence in Egypt with a full-fledged bank, we are looking at one or two other countries," said Chris Egberink, CEO and head of banking and (…)

  • Morocco Raises Contactless Payment Limit to 600 Dirhams, Boosting Digital Transactions
    24 February 2021, by Bladi.net

    After its adoption during the health period, contactless payment seems to be taking hold in the habits of Moroccans. In collaboration with Visa and Mastercard, the Interbank Monetary Center (CMI) has raised the ceiling for contactless payments without PIN entry on electronic payment terminals (POS) to 600 DH instead of 400 DH today.
    Contactless payment in Morocco is on the rise after a period of hesitation, says the Interbank Monetary Center (CMI). During the lockdown, it was widely (…)

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    31 May 2021, by Ginette
  • Armed Robber with Fake Explosive Belt Steals 80,000 Dirhams from Casablanca Bank
    18 May 2022, by Ginette

    A robbery took place on Tuesday, May 17 in Hay Al-Azhar, in the Sidi Moume district of Casablanca.
    Around thirty years old, the robber was armed with an "explosive belt" and threatened to blow up the premises. He managed to get away with 80,000 dirhams before fleeing, reports Alyaoum24.
    Even though he was stopped in his tracks by passers-by, his "explosive belt" allowed him to escape. Informed, the police services conducted investigations by viewing the surveillance camera images in (…)

  • Oxfam Urges EU to Blacklist Morocco as Tax Haven Amid Reform Concerns
    10 March 2019, by Said

    For its lack of willingness to reform its banking and tax system, Morocco should be included in the European Union’s blacklist of tax havens, according to the non-governmental organization (NGO) Oxfam.
    In a report published this week, and cited by the HuffPost website, the NGO considers that 18 countries, including the kingdom, should be included in this list, which already includes 5 countries "due to their lack of willingness to reform their tax policies".
    The same source recalls that (…)

  • Morocco to End 0% Auto Loan Rates, Citing Financial Risks
    17 March 2019, by Amine

    This will certainly displease many! Media sources claim that 0% interest rates on auto loans will disappear next month from the credit options offered to automotive customers. They will be stopped by Bank Al-Mahgrib. In other words, "prohibited".
    The reason is the Professional Association of Financing Companies (APSF) which considers this type of product to be "toxic". Not for the consumer, no! But for the credit institutions... Even the vehicle importers are not complaining about it. (…)

  • Moroccan Banking Giant BMCE Rebrands as "Bank of Africa" in Continental Expansion Move
    4 April 2019, by Bladi.net

    It is President Othman Benjelloun who announced the news at a press conference at the BMCE headquarters in Casablanca on April 2nd. Thus, 25 years after the privatization of the Banque Marocaine du Commerce Extérieur, it will change its name for the delight of all of Africa.
    Created in 1959, BMCE has managed to represent a multi-business bank, relying on a wide network of branches. Its international vocation and specialization in Foreign Trade activities, as well as the expansion of its (…)

  • Armed Gang Pulls Off Major Bank Heist in Moroccan City of Ouarzazate
    13 April 2019, by Said

    It was almost a Hollywood-style robbery that occurred yesterday in Ouarzazate where a group of men broke into a bank before leaving with a large sum of money.
    It was around 9 a.m., just after the opening of the agency, when several individuals, five according to witnesses, broke into a bank located in the commune of Tarmikt, near Ouarzazate. On site, no customers but the security guard and the branch manager. The robbers did not hesitate to strike the two employees before taking all the (…)

  • Moroccan Authorities Bust International Cyber Fraud Ring Targeting Bank Accounts
    18 April 2019, by Bladi.net

    Sixteen members of a cyber-embezzlement network were arrested by the Central Bureau of Judicial Investigation (BCIJ). These gang members are accused of diverting large sums of money.
    According to a press release published by the BCIJ, it involves the embezzlement of astronomical sums perpetrated by this powerful group operating "from bank accounts domiciled in several international banking institutions".
    To carry out their operations, the accused collude with call center employees and (…)

  • Moroccan Household Debt Rises 6.1%, Averaging 42,500 Dirhams in 2018
    4 August 2019, by Sylvanus

    The average debt of each Moroccan household has increased from 41,000 DH in 2017 to 42,500 DH in 2018, an increase of 6.1%.
    A 6.1% increase in the average debt of each household, recorded in 2017 and 2018 (41,000 DH and 42,500 DH, respectively). This is revealed by Bank Al-Maghrib’s 14th survey. To conduct this survey, the Central Bank of Morocco turned to 11 banks and 10 consumer credit companies.
    The survey indicates that the debt contracted is related to consumption (36%) and real (…)