Despite setting up strategies to promote financial inclusion, Morocco still faces big challenges especially in rural areas and among marginalized groups, according to a new report by the UN Economic and Social Commission for Western Asia (ESCWA).
The report revealed that while Morocco has taken important steps, such as including women, people with disabilities, and small businesses as key targets, a gap remains between what’s on paper and what happens on the ground.
One of the main concerns raised is that 42% of Moroccan adults can’t use financial accounts without help. That’s better than the Arab regional average of 64%, but still much worse than the global average of 24%.
Financial inclusion means making sure everyone, especially vulnerable people, can access services like bank accounts, loans, and insurance. This helps reduce financial exclusion, supports economic growth, and encourages saving and investment.
In North Africa, Morocco shows a higher rate of women holding accounts, about 33%, compared to 22% in the Middle East region.
However, the gender gap in Morocco remains one of the widest in the Arab region, with a 23-point difference between men and women.
The report shows that the Arab world in general faces wide gaps in financial access and usage.
For example, in 2021, only 36% of adults in the region made or received digital payments, far below the global average of 67%.
Traditional services like ATMs and bank branches are still used more than digital platforms.
Income levels also play a big role. In middle-income Arab countries like Morocco, 67% of adults have financial accounts.
Gender gaps are another serious issue. In 2021, 69% of women in high-income Arab countries had a financial account or used mobile payment apps.
But that number drops to just 26% in middle-income countries and only 13% in low-income ones.
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