The number of bank cards in circulation in Morocco reached 20.2 million in 2023, representing a 6.3% increase year-on-year, according to the 20th Report of Banking Supervision issued by Morocco’s Central Bank, Bank Al-Maghrib (BAM).
The report revealed that the majority of these cards, accounting for 88% of transactions, have been used for cash withdrawals, maintaining the same level as the previous year.
The findings also highlighted a 7.2% increase in the number of bank accounts, reaching a total of 36.3 million.
The total of individuals with at least one active bank account increased by 3.8%, reaching 15 million.
The proportion of the population with a bank account increased from 53% in 2022 to 54% in 2023.
Concerning the gender distribution, 9.1 million men and 5.9 million women possessed at least one bank account, in 2023.