Moroccan Banks Restrict Household Loans Amid Economic Uncertainty
25 November 2020
Banks will lend less and less to households in Morocco. After noting a sharp slowdown in the repayment pace, they are tightening credit granting conditions.
Banks
Contactless Payments Surge in Morocco Amid COVID-19 Pandemic
21 November 2020
Contactless payment, which has been in place in Morocco for a few years, is experiencing a boom following the outbreak of the health crisis related to the coronavirus pandemic. (…)
Tax Amnesty Deadline Looms: Businesses and Professionals Urged to Regularize
19 November 2020
Delinquent taxpayers covered by the tax amnesty still have a little over three weeks to regularize their situation.
Islamic NGO BarakaCity to Sue Société Générale for Withholding Donations
17 November 2020
The NGO BarakaCity is preparing to file a complaint against Société Générale for theft and fraud.
Morocco’s Central Bank to Tighten Loan Requirements in 2021 Amid Rising Household Debt
16 November 2020
New recommendations from Bank Al-Maghrib (BAM) are expected at the beginning of 2021. They concern the conditions for granting loans by banks and consumer credit companies.
Moroccan Bank Deposits Surge Despite COVID-19 Economic Challenges
16 November 2020
Until the end of September, the economic activity of banks does not seem to be affected by the effects of the health crisis. The outstanding deposits and loans have recorded an (…)
Morocco’s Bank Lending Rates Drop to 4.30%, Lowest in Years
12 November 2020
Interest rates in Morocco have fallen further in the third quarter of this year, reaching 4.30%, according to the Bank Al-Maghrib survey. The rates have fallen by 0.79 (…)
Moroccan Tourism Sector Receives Pandemic Aid, but Financial Concerns Persist
9 November 2020
Moroccan tourism professionals will soon be in possession of the subsidies granted to them for the month of September. Despite this subsidy, they still fear bankruptcy.
Moroccan Banks See Surge in Cash Withdrawals Amid Tax Concerns and Pandemic Fears
9 November 2020
The member of the Party of Authenticity and Modernity, Abdelwahed El Messaoudi, sounded the alarm on an anti-banking practice in Morocco. Moroccans no longer trust their banks (…)
Fitch Downgrades Moroccan Banks, Citing Government’s Limited Support Capacity
6 November 2020
The long-term foreign and local currency issuer default ratings of three Moroccan banks have been downgraded by Fitch Ratings. The ratings drop to "BB" with a more or less (…)