BNP Paribas Reaffirms Commitment to Morocco Amid African Restructuring
10 January 2023
The French banking group BNP Paribas would have decided to leave Morocco. The information disseminated by certain media has been denied by the group’s managers.
Banks
Moroccan Police Arrest 24-Year-Old in Major Credit Card Fraud Scheme
8 January 2023
A 24-year-old man was arrested by the judicial police elements of Meknes for his alleged involvement in a case of fraud and credit card fraud.
Moroccan Bank Customers Warned of Mobile App Hacking Scheme
6 January 2023
Calls for vigilance are multiplying in the face of the number of complaints received by Moroccan banks. Several customers have reported attempted hacking of their account (…)
CIH Bank Sells Three Hotels in Ouarzazate and Fès, Seeks Investors for Tourism Projects
20 December 2022
Crédit Immobilier et Hôtelier (CIH Bank) has launched the call for expressions of interest (AMI) for the sale of three hotel establishments intended for tourism projects.
Morocco’s New Tourist Allowance Policy Limits Travel Options for Citizens
13 December 2022
While the Office of Exchange says it has undertaken a reform to simplify the regime of tourist allowances for all stakeholders, including banks, it has been found that the new (…)
Former Moroccan Bank Director Jailed for Embezzlement in Ouezzane
17 November 2022
A former director of a bank agency in Ouezzane, accused of embezzlement, was placed in detention on the order of the investigating judge of the criminal chamber in charge of (…)
Morocco Set to Launch Instant Bank Transfer System in Early 2023
17 November 2022
The final tests are underway to allow instant receipt of bank transfers for individuals and businesses in Morocco. The general deployment of this system is planned for early 2023.
Nationwide Card Payment Outage Hits Morocco, Disrupts Retail Transactions
17 November 2022
On Wednesday evening, payments by Moroccan bank cards on the internet experienced significant disruptions. This failure would be due to a computer failure of the National Switch.
Moroccan Banks Face 40% Tax Rate by 2026 as Government Expands Financial Sector Levies
11 November 2022
In order to broaden the tax base, the government is considering taking new measures towards companies in the financial sector. Thus, from 2026, banks must bear a rate of 40% on (…)
Moroccan Bank BCP Expands Services for Expats in UAE, Launches Investment Initiative
19 October 2022
The BCP Group has strengthened its activities in the United Arab Emirates with the launch of new banking operations dedicated to Moroccans living abroad. The objective is to (…)