Bank of Morocco anticipates wage increases in talks with unions

The increases are expected to range from 13 percent for the first category to 18 percent for the second.

In-depth discussions during the lengthy session revolved around a specific agenda, primarily addressing the need for a substantial across-the-board wage increase to mitigate the impact of inflation and escalating prices on workers’ purchasing power.

Informed sources disclosed to Hespress that proposals for the wage adjustments originated from the Bank of Morocco’s management, particularly the Human Resources Directorate. However, the matter of contractors, a key concern raised by unions prior to the meeting, remained unaddressed.

Apart from wage adjustments, other pressing demands, including employee benefits, evaluation criteria, internal training opportunities, and appreciations, took precedence during the dialogue.

Discussions on healthcare coverage were absent from the negotiation table, given the existence of multiple systems within Bank Morocco and Dar al-Sikka. Additionally, retirement compensation remains contingent on years of service and seniority.

Union representatives voiced concerns over the status of contracted employees within Bank of Morocco, approximately 115 in number. These employees perform duties akin to regular employees but receive lower wages. These employees lack access to internal benefits and rely on private insurance, further underscoring the need for fair compensation and training reimbursements.

Responding to inquiries from Hespress, Bank of Morocco management refuted claims of programmed wage increases, while sources clarified that all union offices unanimously endorsed the wage hike in the meeting’s minutes. However, details of the agreements remain confidential as the dialogue is still ongoing.

Anticipation for wage increases surged among Bank of Morocco users and executives, with expectations circulating on social media platforms days prior to the session.