Morocco’s central Bank, Bank Al-Maghrib (BAM), and the World Bank (WB) announced on Wednesday they are launching a capacity building program to assist rural populations in their financial decision-making.
Called “Douar Tour” (or “village tour”), the program is part of the BAM’s and WB’s “Greenback-Maroc” initiative to improve financial inclusion in Morocco. It will first be implemented in the regions of Béni Mellal-Khénifra, Souss-Massa, Fès-Meknès, and Morocco’s eastern region. Two initial pilot operations conducted on May 6 and 8 in the province of Khouribga served as a successful beta test.
The program will send targeted messages to Moroccans on how to obtain information on the various financial services available for money transfers and associated fees.
It will also provide training tools that financial companies and NGOs can disseminate to their members and target populations, according to a joint statement by BAM and the WB.
An agency mobile app will be available to allow people to put their newly acquired financial acumen into practice.