Banking

The banks of Morocco rank among the largest on the continent, with a regional footprint matched only by South Africa’s biggest lenders. Recent years have seen these institutions deepen programmes for small and medium-sized enterprises and expand cashless transactions. The industry is not without challenges, however: having dealt with the issue of depressed liquidity levels several years ago, the sector is now faced with low lending growth and rising levels of non-performing loans, and when faster growth will return is unclear. However, continuing regulatory reform will enhance the stability of the system, and banks’ continuing expansion abroad, as well as the launch of Islamic banking and new payment institutions, will help to maintain profits, bring major new players into the kingdom, diversify the product offering and help boost financial inclusion levels that are already high by regional standards.

This chapter contains interviews with Abdellatif Jouahri, Governor, Bank Al Maghrib; and Adnan Ahmed Yousif, President and Chief Executive, Al Baraka Banking Group.