Financial Services

Once reserved for ambitious start-ups and industry-leading tech operators, financial technology (fintech) has more recently caught the attention of major private sector firms and government planners alike, becoming a regular feature in budget speeches and strategic development plans. As fintech progressively plays a larger part in the lives of...

With a network comprised of 19 banks, 6388 branches and 7235 ATMs, the Moroccan banking sector is among the most structured in its region. However, with a banking penetration rate of 56% – versus the global average of 62% – there is still ample room for improvement. In recognition of the need to boost financial inclusion, Bank Al Maghrib (BAM...

Compared to most of its regional peers, Morocco’s banking sector has achieved a high level of sophistication. This has translated into high penetration rates for financial services, regional expansion of major banks and the development of services targeting lower-income populations. These factors have allowed the country’s financial system to...

In 2018 Morocco implemented the ninth International Financial Reporting Standard (IFRS) standard, effectively replacing the previous accounting regime. The new system covers three main topics: the classification and valuation of financial instruments, the impairment of financial assets and the hedging of accounts.