Banking

May 26, 2023

New Tax Measures Looming for Moroccan YouTube Content Creators

Rabat - In a move aimed at ensuring fair taxation, the Moroccan government is contemplating the imposition of taxes on income generated by YouTube content creators who have been earning money on the internet without paying any taxes.

Mustapha"...

May 26, 2023

African Development Bank Forecasts Strong Recovery for Morocco's Economy

Rabat - Morocco’s growth rate is projected to more than double to 3.5% in 2024 from 1.1% in 2022, reflecting the waning effects of the earlier supply-side shock on the economy, the African Development Bank reported in its latest African Economic Outlook 2023.

The"...

May 16, 2023

Dirham Gains 1.9% Against US Dollar, Falls 0.44% Against Euro

Rabat - Morocco’s Central Bank, Bank Al-Maghrib (BAM), has reported that the Moroccan dirham rose by 1.9 percent against the dollar, and fell by 0.44 percent against the euro between March and April of this year.

According"...

May 15, 2023

Visa, Al Barid Bank Join Forces To Boost Financial Inclusion in Morocco

Rabat - Morocco’s Al Barik Bank and global leader in digital payments Visa have joined forces to promote financial inclusion among women, artisans, entrepreneurs, and cooperatives in Morocco. The two parties signed a Memorandum of Understanding (MoU) on Friday with the aim of supporting the above-mentioned communities by offering them training to help their integration into the financial and banking ecosystem. The MoU was signed by the Chairman of Al Barid Bank’s Board of Directors Al-Amine Nejjar and Senior Vice President......

May 15, 2023

World Bank Report Outlines Approach to Improve Morocco’s Fisheries

Rabat - Cooperation between the government, private sector actors, and artisanal fishers is vital in enabling Morocco to preserve and develop its fisheries, a new World Bank report underlines.

The report, titled"...

May 15, 2023

Outstanding Bank Credit Reaches MAD 1,038.2 Bln in Q1-2023 (Central Bank)

Rabat - Outstanding bank credit reached 1,038.2 billion dirhams in the first quarter of 2023, up 5% annually, according to Morocco's Bank Al-Maghrib (BAM).

In detail, the outstanding credit to non-financial"...

April 11, 2023

Four Moroccan Banks On Forbes List of MENA’s 50 Most Valuable Banks

Rabat - Four Moroccan banks featured on Forbes’ 2023 list of the 50 most valuable banks in the Middle East and North Africa.

Morocco’s largest bank, Atiijariwafa Bank, ranked as the 18th most valuable"...

April 10, 2023

World Bank Expects Morocco’s Economic Growth to Average 3.4% in 2024

Rabat - Morocco’s economic growth is expected to continue to slow in 2024, growing at 3.4%, slightly higher than the projected 3.1% for 2023, according to a publication from the World Bank (WB).

After a"...

April 5, 2023

World Bank Approves $450 Million Loan to Boost Inclusion in Morocco

Rabat - The World Bank has approved a $450 million loan to support Morocco’s reforms aimed at advancing financial and digital inclusion

In a press release issued on April 3, the World Bank said that the"...

April 4, 2023

Brand Finance: Boubyan Fastest Growing Brand in Kuwait at Growth Rate of 33%

Boubyan Bank made a new achievement that adds to its successes over the past years, as the bank was ranked on the list of the top 10 most valuable and strongest Kuwaiti brands in terms of valuation for 2023, in addition to being ranked the fastest growing at a growth rate of 33% as per"...