Morocco and UAE explore cross-border card payments
Using a Moroccan bank card in the UAE—or a UAE card in Morocco—could become possible as the two central banks study ways to connect their payment systems and strengthen banking cooperation. Two agreements announced on October 3 set out plans to bring the systems closer together.
Abdellatif Jouahri, governor of Bank Al-Maghrib, and Khaled Mohamed Balama, governor of the UAE central bank, signed the agreements in Abu Dhabi. One concerns the infrastructure needed to enable payments to flow between the two countries, reports Fintechgate.
On Bladi.net : Diaspora card payments Morocco: hidden fees and exchange costs
For cards, the aim is to explore connecting the national networks so they can accept each other’s cards. A card intended for local payments could therefore be used in the other country through this link, in accordance with the rules of both markets.
The planned work goes beyond card payments, however. It also covers instant payment platforms and financial messaging systems. Connecting them should make it easier to process and settle cross-border transactions.
Faster payments between the two countries
The central banks also want to share their experience with digital currencies, both for individuals and financial institutions. They will explore their use in payments between Morocco and the UAE, according to Al Khaleej.
Alongside these technical exchanges, the institutions will cooperate on banking supervision and Islamic finance. In particular, they want to develop cross-border Sharia-compliant financing for trade and infrastructure.
In Morocco, this closer cooperation comes as Bank Al-Maghrib is also seeking to make cards easier to use in everyday transactions. Since October 1, the cap on interchange fees for local payments has fallen from 0.65% to 0.50%. It drops to 0.15% for digital public services and neighborhood shops, known as hanouts.
On Bladi.net : Morocco Card Payment Fees Drop 23% in 2026
The reduction is intended to lower costs for Moroccan merchants. The initiative with the UAE, meanwhile, focuses on card acceptance beyond the domestic market and the flow of payments between the two countries.
