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.
Banks
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.
Moroccan Banker Faces Trial for $1.2 Million Client Fund Embezzlement Scheme
19 October 2023
The banker from Tangier accused of embezzling 12 million dirhams from his clients’ accounts, as well as his 26 co-defendants, will soon be informed of their fate.
Moroccan Banking Giant Attijariwafa Eyes Acquisition of Société Générale’s Tunisian Subsidiary
15 October 2023
Attijari bank, the Tunisian subsidiary of the Moroccan group Attijariwafa bank, would be "very interested" in acquiring the Union Internationale de Banques (UIB), a subsidiary (…)
Moroccan Banker Sentenced to 5 Years for $3.8 Million Embezzlement Scheme
10 October 2023
A former employee of a bank in Tétouan, accused of embezzling funds worth 3 million dirhams and 600,000 euros, was sentenced to five years in prison by the Criminal Chamber of (…)
Bank Employee in Rabat Arrested for $120,000 Embezzlement Scheme
30 September 2023
The investigating judge at the Rabat Court of Appeal in charge of financial crimes has just ordered the detention of an employee of a bank branch in the Riad district, accused (…)
Moroccan Banks and Akwa Group Pledge Over 1.4 Billion Dirhams for Earthquake Relief Fund
16 September 2023
The Professional Group of Moroccan Banks (GPBM) has just made a significant gesture to come to the aid of the victims of the recent earthquake that hit the country. This is (…)