Study: Morocco Leads World in Unbanked Population, 71% Lack Access to Financial Services

According to data from the British research platform Merchant Machine, Morocco tops the list with 71%, or 26.19 million unbanked people in the world. The Kingdom is followed by Vietnam with an unbanked population of 69%, then Egypt with 67%, the study notes.

These data contrast sharply with the ambition and vision displayed since 2007 by Bank Al-Maghrib, which is working on financial inclusion through the promotion of access to formal financial services and responsible and regular use for the benefit of the population, all segments combined.

According to Finbold (Finance In Bold) data, 287 million adults, or 20% of the Chinese population, were unbanked in the first quarter of 2021. In the United States, 23.17 million people do not have a bank account, or about 7% of the adult population.

Financial inclusion, according to the World Bank, represents "the possibility for individuals and businesses to access at low cost a whole range of useful and adapted financial products and services (transactions, payments, savings, credit and insurance) offered by reliable and responsible providers".