Over the forecast period, more Moroccans will possibly be able to benefit from loans, as a social security programme is being implemented. Its objectives, which will be implemented progressively over five years, are to generalise compulsory health insurance (AMO) by 2022 to enable 22 million additional people to benefit from it, to generalise family allowances over the period 2023-2024, to broaden the base of members of retirement schemes by integrating nearly five million active people who do not benefit from any coverage, and to generalise compensation for loss of employment for people who have a stable job by 2025.
Bank al-Maghrib recently received a license from the Dubai International Financial Centre (DIFC) that will allow Moroccan banks to facilitate USD200 million in investment transactions and trade finance within the first year. This is expected to boost the banking industry as a whole and should also help support strong growth in consumer lending.
The BCP group is launching, in collaboration with its payment institution M2T, the first nano-credit offer in Morocco exclusively on the M-Wallet Chaabi Pay. Named Salaf Dépanini, this pioneering offer on the market allows customers to benefit from instant nano-credits ranging from MAD200 to 1,000, served exclusively through their Mobile Wallet Chaabi Pay, to deal with occasional cash outages.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Morocco with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Morocco, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.See All of Our Definitions
This report originates from Passport, our Consumer Credit research and analysis database.
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