Bank accounts rise in Morocco by 10%

The number of bank accounts in Morocco rose by 10% last year.

There are now 29 million accounts, compared to 26.5 million in 2020.

Why it matters. This boosts financial inclusivity in Morocco and shows its emerging status.

The figures come from a recent report published by Morocco’s central bank, Bank Al-Maghrib.

Round of applause? Not quite yet. As what the report also revealed was the wide financial inclusion disparity between the country’s provinces. 

For example, the Casablanca-Settat province can claim to have 29% of the number of bank accounts in the country. It also has 31% of the overall volume of banking deposits.

As regards gender, some two thirds of men hold the total number of accounts, although the number of women with accounts has increased from 37% to 38%.