The coronavirus pandemic gave rise to a massive acceleration in the spread of digital payments and cryptocurrency. This in turn has prompted central banks around the world to trial central bank digital currencies, a digital form of hard currency that is based on blockchain, but backed and issued by a central bank.
In what ways can the BHB enhance its contribution to the country’s post-pandemic recovery?
Financial technology (fintech) is advancing rapidly in emerging markets and Morocco is no exception: the country has embraced its efficiency and low costs as a way to bolster financial inclusion and catalyse innovation across various sectors, with both the government and private firms deploying fintech tools for payments.
As companies look to shift towards more environmentally sustainable modes of operation, transition bonds are increasingly being seen as a key financial tool for those operating in fossil fuel or heavy-polluting sectors.
One outcome of the coronavirus pandemic has been a massive acceleration of the digital transformation process. Nowhere is this more evident than in the finance industry, where Covid-19 prompted a complete overhaul of legacy processing systems and the widespread implementation of what are known as ABCD technologies – a catch-all term that encompasses artificial intelligence (AI) and automation, blockchain and bitcoin, cloud computing, and digital and data-driven solutions.
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