Moroccan Bank Offers Relief Measures for Businesses Impacted by COVID-19 Crisis

To support companies affected by the covid-19 health crisis and enable them to cope with their cash flow problems. This is the objective of the new measures taken by the Banque Populaire.

These include, among other things, the postponement to June 30, 2020 of fixed maturities without late payment penalties; an additional line of treasury, as a loan maturing on December 31, 2020, which will cover 3 months of current expenses, including salaries; the payment of suppliers; the payment of rent, etc. This loan is essentially covered by the guarantee of the Caisse Centrale de Garantie. The Banque Populaire has also planned to provide a 5-year amortization to companies unable to repay this loan. These measures are accessible to the bank’s corporate clients. To benefit from them, they will only need to contact their business centers or Banque Populaire branches by phone or email.

The Banque Populaire also offers its customers digital services for monitoring their activities. These include activity monitoring and management services, exchange channels and systems, which allow exchanging instructions with the bank and remote banking solutions to securely manage advisory or transactional banking operations.