Bank Al-Maghrib pumped a total of MAD99.4 billion, of which MAD42 billion in the form of 7-day advances based on a request for offers, MAD29.8 billion in the form of buy-back operations, and MAD27.5 billion in the form of support programs for financing Small and Medium-sized Enterprises (SME).
The bank recorded, on its weekly indicators, that the daily average trading volume at the level of the banking market, stabilized at MAD2.7 billion, while the bank rate stabilized during this period at 1.50 percent on average.
Bank Al-Maghrib pumped MAD40 billion in the form of advances for 7 days, during the call for tenders on August 4th.
This increase in advances followed the instructions of King Mohammed VI in his opening speech to the parliamentary session last October, that aim to support young leaders in their businesses, where he signed three conventions with Bank Al-Maghrib, BMCE Bank, and the ministry of economics and finances in order to provide integrated business support and financing programs.
“Each of the banks is committed to providing young project leaders and Small and Medium-sized Enterprises with all the long-term support they require, in terms of proximity, listening, assistance in structuring, training or advice, in all economic sectors and all regions of the Kingdom”, Chairman and CEO of BMCE Bank, Othmane Benjelloun, said in a statement.
“The Banks commit that the products offered to young entrepreneurs will be easy to access and use, thanks to the streamlined constitution and guarantee procedures, benefiting from free, at the outset costs, the constitution of files as well as low-interest rates, with a preferential refinancing rate granted to banks by Bank-Al Maghrib ”, he added.
Likewise, Crédit Jeunes Promoteurs (CJP) represents as well a form of financing in partnership between the State and banks intended to support the creation of businesses for young people aged 20 to 45 years, holders of diplomas and project ideas.
It covers physical investments, initial installation costs, and working capital requirements. The amount of credit allocated is set at one million MAD per person for a maximum of 3 partners.
Recently, Attijariwafa bank also adopted a program that supports financially young leaders from the creation to the management of the daily cash flow, including financing. It also offers solutions that are adapted to the business and provides permanent advice, to give the business project a push to succeed.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.