Credit Card Surge in Morocco

A few years ago a visitor to Morocco would have trouble finding a cash machine (ATM/EFTPOS) once they left the main cities. All that has changed as now there are over two million Moroccans who have bank cards. This compares with only 500,000 back in 2000.

Speaking at a study day on the occasion of the "national awareness-raising campaign on the use of bank cards", Director of Moroccan Professional Banks Grouping, El Hadi Chaibainouhe pointed out that these figures remain modest compared to the number of bank cards used in other countries. Noting that Morocco boasts 2,000 automated teller machines, Chaibainou underlined that card-holders use these cards mainly to draw money without using them to make sales.

The national public awareness campaign will last more than three months and involve the regions of Marrakech, Laayoune, Fes, Oujda, Tangier and Casablanca. It aims to make banking services more popular across the whole population via the use of bank cards and by increasing the use of banking facilities in Moroccan society.

The sector’s significant boost encouraged MASTER CARD and VISA to open their regional office for French-speaking Africa in Morocco. Hopefully this will mean that there will be more ATMs around the country in the near future.

Tags: Morocco, Fès, Maghreb, news