Banking

June 21, 2018

Morocco keeps key interest rate unchanged at 2.25%

Morocco's central bank left its benchmark interest rate unchanged at 2.25 per cent on Tuesday and said it sees no need to intervene in the currency market, with the dirham's value stabilising in a more flexible exchange-rate system.

Inflation, driven mainly by food"...

June 20, 2018

Deutsche Bank Moves Reconciliation Services to SmartStream to Further Improve Processing and Reduce Costs

(AETOS Wire) -- As part of its transformation strategy, Deutsche Bank has selected SmartStream Technologies’ Centre of Excellence (CoE) to provide an off-site operations platform - including three services which will allow the bank to streamline, simplify and reduce the costs of its reconciliations environment. With the growth in volume of reconciliations, the processing of large quantities of data has become complex. Many financial institutions are exploring utilities to ensure accuracy and cost savings. With the addition of the......

June 13, 2018

World Bank approves 125-mln-USD financing for Morocco solar projects

The World Bank has approved 125 million U.S. dollars in financing support to two solar power projects in Morocco, local media reported Tuesday.

The two projects, Noor-Midelt I and II plants, will have a total"...

June 10, 2018

Morocco to issue first sovereign Islamic bond worth 1 bln dirhams: minister

Morocco is preparing to issue its first sovereign Islamic bond, or sukuk, worth 1 billion dirhams ($105 million) in the coming weeks after adopting a regulatory framework governing sukuk sales, Finance Minister Mohamed Boussaid said on Thursday.

“The"...

June 4, 2018

Moody’s Analytics Helps Lenders Make Smarter, Faster Decisions with Enhanced CreditLens™ Solution

(AETOS Wire) -- Moody’s Analytics, a global provider of financial intelligence, has enhanced its CreditLens™ platform with a release of functionality that provides easy access to financial data on banks around the globe, and new covenant and enhanced collateral monitoring capabilities. The CreditLens software supports our clients’ automation and digitization initiatives to enhance their lending decisions and growth objectives. Among the new capabilities is the integration of data from Bureau van Dijk, acquired last year......

May 27, 2018

Morocco to Host 2021 Annual Meetings of World Bank Group and IMF

The city of Marrakech will host the 2021 Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) in October 2021. The decision came after a vote by the boards of governors of the IMF and WBG in April, according to a statement by the IMF. The choice of Morocco marks the 60th anniversary of the country’s membership in both organizations since 1958. The October 2021 meeting will convene central bankers, ministers of finance, private sector executives, media, and academics. The attendees will discuss......

May 22, 2018

HPS pushes on with open banking platform for payments

Morocco-based payment software firm HPS has made progress with its open banking platform to let firms build applications on banks’ and other financial institutions’ existing payment systems.

Called"...

May 20, 2018

BMCE Launches Multifunctional ‘Youth Campus’ Credit Card

Money management has just become easier for students, as BMCE Bank of Africa Group has launched the new Youth Campus credit card with a variety of daily benefits and an MAD 90 discount per month. BMCE Bank may have found the right solution for students stressing about how to manage their money between leisure and studying, through the Youth Campus or “Jeune Campus” credit card dedicated for young people between 18 and 24. In partnership with the Euro-Mediterranean University of Fez (UEMF), BMCE Bank will gives students access......