Bank Credit in Morocco: Diaspora Efforts Will Help Their Relatives

In 2024, remittances from Moroccans living abroad accounted for 8% of Morocco's GDP, according to the IFAD. A project reviewed by IFAD's Board aims to enable families to access bank credit using funds received from abroad. Salafin, a branch of Bank of Africa, will collaborate with Damane Cash to create a credit product for these families. Four localities, including Khouribga and Béni Mellal, are candidates to host this pilot program.