Publication: Enhancing Financial Capability and Inclusion in Morocco : A Demand-Side Assessment
Date
2014-12
ISSN
Published
2014-12
Author(s)
World Bank Group
Abstract
Approximately 41 percent of Moroccan
adults use a formal financial product or service. This
places Morocco well above the average level of financial
inclusion in the Middle East and North Africa, as well as
above the average level in lower middle income countries (18
percent and 28 percent, respectively). Bank accounts are the
most commonly used financial product, with 28 percent of
adults reporting having a deposit or checking account.
Microfinance institutions (MFIs) currently reach about five
percent of the adult population, a finding consistent with
supply-side data. Insurance is used by around 24 percent of
the adult population in Morocco which is mainly due to
mandatory insurance classes. Allowing, and advocating for
branchless banking offers the potential to further expand
the coverage of financial services and to reach the poor,
rural dwellers, and women. Moreover, initiatives to bring
women into the financial sector need to reveal and take into
account, the substantial differences which can exist between
men and women in their access, needs, and preferences of
financial services.
Citation
“World Bank Group. 2014. Enhancing Financial Capability and Inclusion in Morocco : A Demand-Side Assessment. © Washington, DC. http://openknowledge.worldbank.org/handle/10986/21503 License: CC BY 3.0 IGO.”