2024-08-05 08:57:58
Speaking at a press briefing held with the Special Advocate of the United Nations Secretary-General for Inclusive Financial Services for Development (UNSGSA), Queen Máxima of the Netherlands, Mr. Jouahri considered that Morocco is lagging behind in terms of fintechs, calling for a change in culture to develop this ecosystem.
In this sense, he recalled that the Central Bank had created a one-stop shop to receive fintechs, help them, advise them and monitor their relations with the banking system.
He also highlighted the importance of the incentive measures implemented by the government to promote the financial sector, noting that the Central Bank is sparing no effort to collaborate with other institutions for the promotion of fintechs, notably the Deposit and Guarantee Fund (CDG), the Ministry responsible for Digital Transition and Administrative Reform and the Digital Development Agency.
“The objective is to converge the efforts of stakeholders, each in their own field, to create a fintech ecosystem that can catch up with Morocco, and at the same time create a benchmark that will be useful, in order to properly determine the incentives for this system to succeed as quickly as possible,” noted Mr. Jouahri.
Furthermore, the official noted that mobile banking allows for more secure, faster and less expensive transactions, stressing that cash is a channel that promotes the financing of terrorism and money laundering, hence the interest in opting for digital.
In this context, he noted that Morocco is one of the countries most dependent on cash, calling for social aid to be paid to citizens via digital channels.
In this regard, the Wali of the Central Bank highlighted a pilot experiment launched with the Ministry of National Education, Preschool and Sports, for the “Tayssir” operation which gave positive results, but “not up to aspirations”.
Mr. Jouahri met during the day with the Special Representative of the Secretary General of the UNSGSA, Queen Máxima of the Netherlands, who is visiting Morocco with the aim of promoting greater progress in the field of financial inclusion made in recent years by Morocco.
This visit focuses on financial technology innovations, green and inclusive finance, and the development of digital payment systems that promote financial inclusion.
2024-08-05 08:57:58