Morocco Tightens Rules on Foreign Currency Accounts for Residents
14 February 2020
Foreign currency accounts, authorized for residents and persons who have subscribed to the exchange regulation amnesty, can only be fed by resources from abroad.
Banks
Moroccan Bank Attijariwafa Adopts SWIFT Global Payment Innovation Standard
10 February 2020
Since January 13, Attijariwafa Bank is the first Moroccan bank to comply with the international SWIFT Global Payment Innovation (GPI) standard. The announcement was made by the (…)
Attijariwafa Bank Breaks Record with Nearly 1 Million Transactions in January
10 February 2020
The "Attijariwafa bank" group has distinguished itself for the fifth consecutive year, with 976,000 stickers cashed in at the end of January.
New Tax Rules Require Banks to Report Beneficial Owners to Authorities
1 February 2020
The tax administration has set new obligations that apply to banks and insurance companies as part of the reporting of beneficial owners.
Morocco’s Cash Circulation Surges by 17 Billion Dirhams in 2019, Bank Al-Maghrib Reports
1 February 2020
During the year 2019, the banking system recorded more cash outflows. According to the latest monetary statistics from Bank Al-Maghrib, 17 billion dirhams have swelled the (…)
Cash Dominates Moroccan Payments: 80% of Card Transactions Used for ATM Withdrawals
26 January 2020
A significant number of Moroccans have remained attached to the practice of cash when they wish to make their purchases.
Moroccan Bank Fined €4.2 Million for Pension Violations in France
17 January 2020
The Banque Centrale Populaire du Maroc, the parent company of Banque Chaabi, has been ordered to pay 4.2 million euros to 18 of its former employees for not paying their (…)
Banque Populaire Unveils Modern Logo and Digital-Focused Rebrand
7 January 2020
The visual identity of Banque Populaire is improving with the adoption of a new logo and the implementation of a new website.
Moroccan Personal Debt Crisis: Unpaid Bank Loans Surge 168% in 7 Years
7 January 2020
The unpaid bank debts of Moroccans have been multiplied by 2.7, from 2013 to 2019, reaching more than 23 billion dirhams. Personal bank loans, on the other hand, have only (…)
Alert: ’Skimming’ Scam Targets Moroccan ATMs, Banking Data at Risk
28 December 2019
"Skimming", the new bank card fraud, is in vogue at Moroccan ATMs. The DGSN and the banking supervision department are on alert and are calling on agencies to be extremely (…)