Banks

Fugitive Suspect in Paris Bank Heist Sentenced in Absentia, Millions Still Missing

26 October 2024

Involved in the robbery of the Milleis bank located at the Champs-Élysées roundabout (8th arrondissement) in January 2019, a man on the run in Morocco has been convicted in (…)

Moroccan Bank Employee Arrested for $120,000 Client Account Theft in Dakhla

23 October 2024

The police arrested in Dakhla the employee of a bank in the city, accused of having embezzled more than one million dirhams from the accounts of certain clients.

Moroccan Bank Employee Sentenced to 5 Years for $850,000 Embezzlement Scheme

13 October 2024

The Court of First Instance in Fez sentenced on Thursday to five years in prison and a fine a bank agency employee, who has been in custody for six months for embezzling more (…)

Morocco Slashes Card Payment Fees for Merchants, Boosting Digital Economy

13 October 2024

Following the directive issued by Bank Al-Maghrib (BAM) on September 25, 2024, which now caps the domestic interchange rate at 0.65%, the Interbank Monetary Center (CMI) has (…)

Moroccan Bank Cybercrime: $4.2 Million Stolen from Crédit du Maroc Accounts

10 October 2024

Elements of the National Office for the Fight against Financial and Economic Crime, attached to the National Brigade of the Judicial Police, are investigating the hacking of (…)

Morocco’s Central Bank Caps Card Payment Fees at 0.65% to Curb Excessive Charges

30 September 2024

Bank Al-Maghrib has just put the brakes on the fees generated by card payments. The Moroccan central bank has decided to cap at 0.65% the commission charged on each transaction (…)

Back-to-School Costs Drive Moroccan Families to Seek Bank Loans

30 August 2024

The approach of the school year and the end of the summer holidays often rhyme with the use of bank loans to enable Moroccan parents to meet the needs of their children. And (…)

Kenitra Notary Faces Trial for Alleged $400,000 Fraud and Embezzlement

24 August 2024

A famous notary practicing in Kenitra is accused of fraud by the municipality as well as two banking institutions. His trial will open on September 16 before the criminal (…)

Cash Shortage Frustrates Tourists and Locals in Moroccan Beach Town

22 August 2024

Many citizens and tourists on vacation in the city of Martil and its surroundings have expressed their anger at the lack of cash in the automatic teller machines of bank branches.

Bank of Africa Refutes Claims of Cyberattack on Its Systems

13 August 2024

Bank of Africa (BOA) denies reports of an attempted hacking of its computer system.