Banking

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 …

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 …

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 …

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 …

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 …

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 …

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, …

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 …

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, …

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 …