Morocco
Attijariwafa Bank Named Morocco's Top Bank for 9th Time by Financial Times Magazine
The English magazine "The Banker" of Financial Times has awarded Attijariwafa bank the prize of "Best Moroccan Bank of the Year 2020" for the 9th time.
Topic
Banks
Morocco
African Banks Face Surge in Non-Performing Loans Amid COVID-19 Recovery
In Morocco as in Nigeria, due to the health crisis, the percentage of non-performing loans will reach double digits. Even if the prospects for African banks will be stable in 2021, the return to pre-Covid performance levels is not expected for nearly two years, analyzes Fitch Ratings.
Morocco
Moroccan Banks Face 14% Surge in Non-Performing Loans Amid COVID-19 Crisis
The Moroccan banking system recorded, at the end of September, 80 billion DH in unpaid loans, or 8.5% of the outstanding bank loans. However, some banks have stated that these figures are rather positive compared to the beginning of the health crisis.
France
Muslim Woman Alleges Discrimination After Bank Demands Veil Removal
Leila, a customer of Société Générale, was forced by an employee of the Hénin-Beaumont branch to remove her veil. Even if security reasons were invoked by the bank, the woman sees Islamophobia in it and decides to file a complaint.
Morocco
Morocco: Over 470,000 Households Receive Loan Deferrals Amid COVID-19 Crisis
As of the end of September 2020, the number of beneficiaries of the deferral of the maturities of real estate and consumer loans for people impacted by the health crisis related to Covid-19 , put in place on March 19 by the Economic Monitoring Committee, reached 471,742 households in the Kingdom. At the same time, 32,248 requests from companies were validated by the banking sector.
Morocco
Moroccan Banks Restrict Household Loans Amid Economic Uncertainty
Banks will lend less and less to households in Morocco. After noting a sharp slowdown in the repayment pace, they are tightening credit granting conditions.
Morocco
Contactless Payments Surge in Morocco Amid COVID-19 Pandemic
Contactless payment, which has been in place in Morocco for a few years, is experiencing a boom following the outbreak of the health crisis related to the coronavirus pandemic. This payment method could become widespread throughout the Kingdom.
Morocco
Tax Amnesty Deadline Looms: Businesses and Professionals Urged to Regularize
Delinquent taxpayers covered by the tax amnesty still have a little over three weeks to regularize their situation.
France
Islamic NGO BarakaCity to Sue Société Générale for Withholding Donations
The NGO BarakaCity is preparing to file a complaint against Société Générale for theft and fraud.
Morocco
Morocco's Central Bank to Tighten Loan Requirements in 2021 Amid Rising Household Debt
New recommendations from Bank Al-Maghrib (BAM) are expected at the beginning of 2021. They concern the conditions for granting loans by banks and consumer credit companies.
Morocco
Moroccan Bank Deposits Surge Despite COVID-19 Economic Challenges
Until the end of September, the economic activity of banks does not seem to be affected by the effects of the health crisis. The outstanding deposits and loans have recorded an increase since the beginning of the year.
Morocco
Morocco's Bank Lending Rates Drop to 4.30%, Lowest in Years
Interest rates in Morocco have fallen further in the third quarter of this year, reaching 4.30%, according to the Bank Al-Maghrib survey. The rates have fallen by 0.79 percentage point compared to the same period in 2019.