A recent policy brief by the United Nations Economic and Social Commission for Western Asia found that Morocco’s gender gap in financial account ownership stands at 20 percentage points, underscoring persistent barriers to women’s financial inclusion.
Only 35% of Moroccan women ages 15 and older hold an account at a financial institution, compared with 55% of men.
To help close the gap, the report said supportive legislation in Morocco has enabled telecommunications companies to operate independently in the financial sector, fostering the growth of fintech innovations such as mobile payments and digital wallets.
Across the Arab region, women’s access to formal financial services remains among the lowest globally, with 57% of men and 42% of women holding an account at a financial institution, according to the brief.
The paper, titled “Unlocking Women’s Economic Potential in the Arab Region: Advancing Financial Inclusion and Autonomy,” found that Algeria, Iraq, Jordan, Tunisia and the State of Palestine also reported gender gaps exceeding 20 percentage points.
Algeria recorded the widest gender gap in account ownership in the region, with only 18% of women ages 15 and older holding a financial account, compared with 52% of men, a difference of 34 percentage points.
The Comoros, Kuwait, Oman, Qatar and Saudi Arabia reported high account ownership rates for both men and women, with gender gaps below 10 percentage points.
Bahrain leads the region, with 83% of women and 82% of men owning financial accounts.
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