Moroccan Banks Ensure Services Amid Coronavirus Panic, Urge Digital Banking

21 March 2020 – bySylvanus@Bladi · 1 min read

While customers are rushing to banks in this period marked by the spread of the coronavirus, the Professional Group of Banks of Morocco (GPBM) ensures the continuity of banking services at the level of all branches in the country and Automated Teller Machines (ATMs).

According to the GPBM, banks have been instructed to direct customers to digital channels for daily operations. This measure has the advantage of preventing the spread of COVID-19. The GPBM has also taken other measures, including reducing staff in some bank branches, such as at the headquarters of some banking groups, implementing rotational operations, etc.

Similarly, arrangements have also been made for the proper functioning of ATMs and their regular supply of liquidity, day and night; which will allow customers to have funds available at all times.

On Tuesday, Bank Al-Maghrib (BAM) lowered the key rate from 2.25% to 2%, during the first session of its council. This is a measure that will allow banks to have more liquidity with the central bank, through the reduction of their refinancing cost.

Category: Economy

Keywords:

Banks Bank Al-Maghrib Professional Association of Banks of Morocco Coronavirus in Morocco (Covid-19)