In 2020, cash demand in Morocco marked an "exceptional" increase, with the currency in circulation growing by 20.1% to 319 billion DH, in value, or nearly 30% of GDP. An unprecedented surge due to the effects of the health crisis.
Bank Al-Maghrib announces a 34% decline in counterfeit banknotes. 6,335 banknotes were seized last year in Morocco.
In 2020, sight deposits recorded by the participatory banking sector in Morocco reached an outstanding amount of 3.8 billion dirhams (MMDH), an increase of 49% compared to the previous year.
Bank credit in Morocco showed growth of 4.1% during the month of June. A pace accelerating compared to the trend observed a month earlier (+2.9%).
Conjunctural indicators suggest a good recovery of economic activity in the coming months. The announcement was made by the Directorate of Studies and Financial Forecasts (DEPF) in its recent economic note.
The Moroccan currency is almost stable against the euro and the US dollar. This is what the indicators published by Bank Al-Maghrib (BAM) during the period from July 15 to 20, 2021 indicate.
In Morocco, withdrawing money through bank ATMs is an impossible mission for many citizens. Some ATMs are severely lacking in cash. Consumer associations are called to the rescue to resolve this situation that deprives the citizen of his right to access his money, especially during a holiday as important as Eid al-Adha.
The judicial police of Rabat arrested an entrepreneur, who is also the president of an anti-corruption body and an association of small businesses, suspected of having scammed a bank and a ministry. The suspect is the subject of about twenty complaints for fraud and forgery and use of forgeries.
A grouping of Crédit Agricole Maroc, CIH Bank, Al Barid Bank and CDG Capital within the same holding company is in preparation. The objective: to harmonize and target the state’s intervention and contribute more significantly to financing economic activities .
Millions of bank cards could be lacking from the second half of 2021 due to difficulties in supplying semiconductors. Like other countries, the concern is growing in Morocco in the face of a shortage. The kingdom renews around 3 million cards per year.
Between 2019 and 2020, in one year, Morocco lost 45 bank branches. This is proof that these physical installations are losing more and more of their importance in the Moroccan banking landscape, in favor of digital services.
In Morocco , the Amazighs used Berber granaries in the Souss Massa region. These ancient granaries could be the world’s first banks.