Maroc Telecom (IAM) announces the launch of its Mobile Money solution via its subsidiary MT Cash. Called “MT Cash”, the solution offers a range of financial services, comparable to those of banked customers, which users can carry out safely and easily from their mobile phone. Subscribing to the solution allows …
Read More »Moroccan HPS teams Bank of Cyprus
HPS, a multinational leader in the provision of payment solutions and services, announces today that Bank of Cyprus, the largest banking and financial services group in Cyprus, has finalized the migration and replacement of its legacy systems to PowerCARD, the HPS software solution. After successfully migrating its Base24 Switch to …
Read More »Coronavirus: AfDB mobilizes 264 million euros to support Morocco
The Board of Directors of the African Development Bank (AfDB) approved, on Wednesday, May 27, financing of 264 million euros for Morocco as part of its program to support the response of Covid-19 (PARC-19), indicates a press release from the bank. “Faced with this unprecedented situation, we are doing everything …
Read More »Attijariwafa bank launches the first chatbot in Morocco
Attijariwafa bank launches a new online assistance service accessible 24/7, based on artificial intelligence, allowing customers to conduct an interactive dialogue, to obtain answers to their questions quickly, efficiently and on time that suits them. This virtual assistant constitutes real added value for the Customer Relations Center, which was in …
Read More »Morocco: Fitch downgrades the outlook of 3 banks
The Fitch Ratings Agency has just revised the ratings of Attijariwafa bank, Bank of Africa and CIH from stable to negative, while confirming to “BB +” the rating of long-term issuer default in foreign and local currencies of the three banks. The rating actions follow Fitch’s review of Morocco’s sovereign …
Read More »No dividends this year for banks in Morocco
Bank Al-Maghrib (BAM) has called on credit institutions to suspend all dividend distributions for the 2019 fiscal year until further notice, BAM said in a statement. In the context of the pandemic Covid-19 crisis, credit institutions are called upon to strengthen their role in financing the economy, notes the press …
Read More »Fitch changes Morocco’s rating from stable to negative
In question, the shock of the Covid-19 pandemic on the Moroccan economy, the indicators of which should deteriorate in 2020. This expected revision does not suit Morocco, which plans to raise money internationally. The international rating agency Fitch Ratings revised the outlook for the long-term credit rating in Moroccan currencies, …
Read More »Moody’s reviews the outlook for Moroccan banks
If Moody’s was positive for Morocco and its banking system a few days ago while maintaining its rating and its outlook, the financial assessment agency has just shrunk slightly. In a report released on April 27, Moody’s has reviewed the outlook for banking systems in Morocco, South Africa and Nigeria …
Read More »PLL: Morocco draws nearly 3 billion dollars
The Covid-19 crisis forced the Kingdom to use the IMF’s Precautionary and Liquidity Line (PLL). To cope with the shock, Morocco proceeded on April 7, 2020 to draw on the PLL for an amount equivalent to nearly $ 3 billion. The latter is repayable over a period of 5 years, …
Read More »EBRD invests in olive oil in Morocco
The European Bank for Reconstruction and Development (EBRD) is contributing to the development of the olive oil sector in Morocco with a loan of 55 million dirhams (5 million euros). The EBRD loan will be allocated to the subsidiaries of Al Dahra Holding Maroc, Al Dahra Morocco Factories (ADFAC) and …
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