Bank Employee in Morocco Arrested for $280,000 Embezzlement Scheme
13 March 2020
An employee of a bank branch in Immouzer was arrested by the Royal Gendarmerie for his alleged involvement in the embezzlement of the sum of 2.8 million dirhams.
Banks
Moroccan Bank BCP Partners with HSEVEN to Boost Startup Funding and Innovation
12 March 2020
The collaboration between BCP and HSEVEN, sealed this Tuesday, March 10, by the signing of a partnership, aims to support and finance entrepreneurs and startups with high added (…)
Muslim Association Loses $450,000 in Bailiff’s Mistaken Seizure
26 February 2020
The vice-president of the Montfermeil Socio-Cultural and Educational Association (ASCEM), Farid Kachour, saw red when the bank statement displayed on his mobile phone screen (…)
Islamic Scholars Debate Legality of Low-Interest Loans in Morocco
18 February 2020
Bank credit, authorized by the president of the International Union of Muslim Scholars (UIOM), Ahmed Raissouni, for the Intilaka program, is the subject of heated debate. The (…)
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.
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.