World Bank: mobile phones boost financial inclusion in Morocco but challenges remain

44% of adults in Morocco had a bank account in 2024, while just 6% were able to save money, according to a new World Bank report.

The 2025 Global Findex report highlights both progress and ongoing obstacles in the country’s financial inclusion efforts.

The report found that 32% of Moroccan adults made or received digital payments last year, showing growing use of digital financial services. 

Mobile phone ownership is nearly universal, with 90% of adults owning a phone and 65% using the internet. 

However, the report raised concerns about transparency and digital security, noting that 40% of phone owners in Morocco use SIM cards not registered in their names.

Gender differences were also reported. Around 87% of women in Morocco own a mobile phone, compared to 93% of men. 

While this gap is relatively small, it could have implications for women’s access to digital financial tools.

The World Bank stressed that despite improvements in account ownership and digital payment activity, a significant portion of the population remains excluded from key financial services such as savings. 

Among Moroccans who receive their salaries from the government or private sector through a bank account, 10% said they were charged unexpected fees when withdrawing money. 

The report suggests this may reflect a lack of understanding of account terms or limited awareness of alternatives.

The World Bank called for clearer communication from financial service providers about mandatory and avoidable fees. It also urged regulators to strengthen protections and promote better practices in the financial sector.

Across low- and middle-income countries, the number of adults with financial accounts has reached record highs, driven largely by mobile technology. 

In these economies, 10% of adults now use mobile money accounts to save, double the rate from 2021.

The report concludes that mobile technology continues to expand financial access but warns that better regulation, transparency, and public awareness are needed to ensure lasting benefits.