Banking

The last monitoring report of the economic situation in Morocco, established by the World Bank Group, more precisely by the Middle East and North Africa (MENA) unit of the World Practice for Macroeconomics, Trade and Investment (MTI), draws up a worrying inventory of the economic situation in Morocco and announces …

The Kingdom of Morocco ranks seventh in the Arab world in terms of investment in US Treasuries, while the Kingdom of Saudi Arabia leads the way with a total of $ 124 billion. According to a report published by the magazine “Forbes”, Morocco’s investments in US Treasury bonds amounted to …

Morocco has 22.1 tons of gold in its reserves, worth an estimated $ 1.14 billion, ranking 62nd in the world, according to the latest report from the “World Gold Council”. The United States ranks first with 8133.5 tonnes of gold, valued at $ 419.5 billion. Germany comes in second with …

Morocco’s official reserve assets amounted to 289 billion dirhams until August 13, 2020, up by 22.4% compared to the same period in 2019, Morocco’s central bank (Bank Al-Maghrib / BAM) has said. During the week of 13-19 August, Bank Al-Maghrib injected 119.2 billion dirhams. As for the interbank rate, it …

The World Bank, along with the United Nations and the High Commissioners for the Plan (HCP), have published a joint statement recommending Morocco to strengthen investment in public services to address the Covid-19 pandemic. These agencies indicate that it is necessary to strengthen public health, education and administration in these …

The EBRD (European Bank for Reconstruction and Development) has just granted a loan of 40 million euros (MAD 430 million) to the Moroccan branch of Caixa Bank. The latter should distribute the funds in the form of sub-loans to local SMEs. This loan from the EBRD will allow Caixa Bank …

The Bank Of Africa group (BOA) achieved a net income group share of more than 1.9 billion dirhams for the past year, up 5% compared to 2018. The contribution of the activity in Morocco to this result amounted to 60%, while that of the international one reached 40% (33% for …

At the end of 2019, the number of bank accounts recorded an annual increase of 5% to more than 28 million, after 4.7% at the end of 2018, indicates BAM (Bank Al-Maghrib) in its annual report on banking supervision. As for accounts opened by participating banks, their number stood at …

The European Bank for Reconstruction and Development (EBRD) is responding to the impact of the coronavirus pandemic on the Moroccan economy with a US$ 100 million loan to Banque Centrale Populaire (BCP) for on-lending to local private businesses. The loan is the second in the country under the EBRD Solidarity …

The investments of the African Development Bank (AfDB) in Morocco, the financial institution’s first client, have reached more than $ 1.1 billion during the last 8 months, according to the representative resident in the Kingdom, Leila Farah Mokaddem. “Morocco is a country with which we have enjoyed excellent relations for …