Financial technology (fintech) is advancing rapidly in emerging markets and Morocco is no exception: the country has embraced its efficiency and low costs as a way to bolster financial inclusion and catalyse innovation across various sectors, with both the government and private firms deploying fintech tools for payments.
The development of a fully digital financial environment is an important objective in Morocco’s strategy to become more competitive and cement itself as a leading financial centre in the region – a transformation that has been accelerated by the Covid-19 pandemic. However, many challenges remain to be addressed, including heavy reliance on cash as a payment method.
This Focus Report was produced in partnership with the Centre Monétique Interbancaire and CFG Bank.
