Morocco: a banker convicted for stealing his clients’ money
24 March 2024
The chamber in charge of financial crimes of the Rabat Court of Appeal has just confirmed the judgment of the court of first instance, which had sentenced to five years in (…)
Banks
Moroccan Saham Group Eyes Expansion: Targets Société Générale’s African Banking Network
12 March 2024
In addition to the acquisition of a large part of Société Générale du Maroc, the Saham Finances group, founded and led by the former Minister of Industry and Trade, Moulay (…)
Moroccan bank branches on the way to disappearing
10 March 2024
Bank Al-Maghrib announced the decrease in the total number of bank branches on the territory of the kingdom, from 5,914 in 2022 to 5,811 in 2023.
Société Générale is separating from its Moroccan subsidiary
8 March 2024
Negotiations are very advanced for the acquisition by the Saham Finances group, founded and led by the former Minister of Industry and Trade, Moulay Hafid Elalamy (MHE), of a (…)
Rabat Bank Fraud: 7 Charged in $1.9 Million Embezzlement Scheme
27 February 2024
Seven people, including four in pre-trial detention, are being prosecuted for embezzlement in a bank branch in Rabat.
Bank Employee Flees After Allegedly Draining Deceased Client’s Account in Morocco
17 February 2024
Accused of misappropriating client accounts, an employee of a bank branch in Tétouan fled after being summoned by the police.
Moroccan Dirham Strengthens Against Euro, Official Reserves Rise to 356.5 Billion
11 February 2024
The dirham appreciated by 0.12% against the euro and depreciated by 0.34% against the US dollar between February 1 and 7, 2024, according to Bank Al-Maghrib (BAM).
Morocco Introduces Amnesty Program for Bounced Check Offenders
11 January 2024
In Morocco, the centralized service for fines for lack of provision on checks recorded 559,918 payment incidents in 2022, an increase of nearly 12% compared to the previous (…)
Moroccan Labor Group Slams Government’s Approach to Expatriates, Calls for Policy Changes
18 December 2023
The Democratic Labor Organization (OMT) has strongly criticized the government’s policy towards Moroccans residing abroad, pointing to an approach deemed superficial and (…)
Morocco Launches New Currency Series: Banknotes and Coins Enter Circulation
24 November 2023
The new banknotes and coins issued by Bank Al-Maghrib (BAM) went into circulation on Friday, November 24, 2023.