Bank cards in circulation numbered 18.9 million in 2022, showing a 5.4% increase from the previous year, said Morocco’s central bank (BAM, Bank Al-Maghrib) in its 19th annual report on banking supervision.
The majority of these cards are primarily used for cash withdrawals, accounting for 88% of transactions, slightly down from 89% in 2021. The report also highlights an 8.4% rise in the number of bank accounts held by individuals, totaling 33.9 million.
The number of resident individuals with at least one bank account grew by 1.8% in 2022, compared to 0.6% in 2021, reaching 14.5 million individuals. The overall bank account ownership rate for 2022 remained steady at 53%.
Regarding gender distribution, the report indicates that by the end of 2022, approximately 8.8 million men held at least one bank account, while 5.7 million women also had at least one bank account.
With regard to payment accounts, BAM notes that, based on data collected from the 14 payment institutions, the number of payment accounts opened totaled 6.9 million.
These payment accounts are split 48% for Level 1 accounts, 37% for Level 2 accounts and 13% for Level 3 accounts, the Bank points out, specifying that 696 thousand payment accounts are considered active, i.e. an activation rate that increases to 10.2% compared with 8.4% at the end of 2021.
On the other hand, two establishments offering the acquisition service have continued to equip merchants with Electronic funds transfer at point of sale (EFTPOS), bringing the total to 72,764, 81% of which are active, compared with 73% in 2021. In addition, the number of EFTPOS terminals accepting payments via Mobile-Wallet6 has risen to 7,327, compared with 7,053 in 2021.
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.