Bank Al-Maghrib advances exceed 93 billion dirhams in a week

Bank Al-Maghrib said it pumped a total of MAD 93.2 billion in a week, from August 19 to 25.

This total includes MAD 39.5 billion in the form of 7-day advances based on a request for tenders, MAD 29.8 billion in the form of buy-back operations, and MAD 23.9 billion in the form of programs to support the financing of small and medium-sized enterprises (SME).

At the level of the banking market, Bank Al-Maghrib recorded, in its note on the weekly indicators, that the daily average trading volume settled at MAD 2.8 billion; While the bank rate stabilized during this period at 1.5 percent on average, noting that it pumped MAD 39 billion in advances for 7 days during the request for tenders.

Previously, Bank Al-Maghrib said it pumped a total of MAD97.3 billion, during the period from August 4 to 11.

A decrease of MAD 4,1 billion between those two periods, in which, according to Bank Al-Maghrib, occurs mainly as a result of the reduction in the bank rate from 75 basis points to 1.50%, this also impacted the strengthening of the Bank’s injections, and contributed as well in the increase of banks’ cash liquidity needs.

Recently, Banks’ cash liquidity needs amounted to an average of MAD81 billion in July, according to the Directorate of Financial Studies and Forecasts (DEPF).