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Morocco – Banking

Morocco, a country located in North Africa, has a well-established banking system. In this article, we will explore the main local banks, international banks, accounts and services for expats, typical bank opening hours, areas of concern, and the process for opening a bank account in Morocco.

Local Banks in Morocco

The main local banks in Morocco are:

  • Attijariwafa Bank
  • Banque Populaire
  • BMCE Bank
  • Credit Agricole du Maroc
  • Societe Generale Maroc

Attijariwafa Bank

Attijariwafa Bank is the largest bank in Morocco, with over 4,000 branches worldwide. They offer a range of services, including personal banking, corporate banking, and investment banking.

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Banque Populaire

Banque Populaire is a cooperative bank in Morocco, with over 1,000 branches in the country. They offer a range of services, including personal banking, corporate banking, and investment banking.

Contact Details:


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BMCE Bank

BMCE Bank is a Moroccan bank with international presence in Europe, Africa and Asia. They offer a range of services, including personal banking, corporate banking, and investment banking.

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International Banks in Morocco

In addition to the local banks in Morocco, there are also a number of international banks with a presence in the country. These include:

  • Citibank
  • HSBC
  • Standard Chartered Bank

Citibank

Citibank is a multinational bank with a presence in over 160 countries worldwide. They offer a range of services, including personal banking, corporate banking, and investment banking.

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HSBC

HSBC is a British multinational bank with a presence in over 60 countries worldwide. They offer a range of services, including personal banking, corporate banking, and investment banking.

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Standard Chartered Bank

Standard Chartered Bank is a British multinational bank with a presence in over 60 countries worldwide. They offer a range of services, including personal banking, corporate banking, and investment banking.

Contact Details:

Accounts and Services for Expats

Many banks in Morocco offer accounts and services specifically aimed at expats. These include:

  • Foreign currency accounts
  • International money transfers
  • International credit cards
  • Multilingual customer service

Expats should check with their chosen bank to see what specific accounts and services they offer.

Typical Bank Opening Hours in Morocco

The typical bank opening hours in Morocco are:

  • Monday to Friday: 8:30 AM to 3:30 PM
  • Saturday: 8:30 AM to 12:30 PM
  • Sunday: Closed

Opening a Bank Account

Once you have selected the bank and account type, you will need to provide the necessary documentation to open the account. These documents typically include:

  • A valid passport
  • Proof of address in Morocco (such as a utility bill)
  • A residency permit or visa
  • A letter from your employer, if applicable
  • Proof of income, such as bank statements or pay stubs

You will also need to fill out an application form and sign a signature card. Some banks may require you to make an initial deposit to open the account.

Once your account is opened, you will typically be given a debit card and access to online banking services. You may also be able to apply for a credit card or other financial products offered by the bank.

Banking in Morocco is generally straightforward, with a variety of local and international banks offering a range of accounts and services. Expats can easily open a bank account in Morocco, although it is important to research the various options and be aware of any fees or restrictions that may apply. By following the steps outlined above, expats can open a bank account in Morocco and enjoy the convenience and security of having a local bank account.


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