By Larbi Arbaoui
Morocco World News
Taroudant, Morocco, April 21, 2013
Moroccan Banks reduced the amount that is allowed through ATMs.
According to an agent working in an agency of Banque Populaire, nearly all Moroccan banks received a note on limiting the amount that their clients can withdraw everyday from ATMs.
The same source added that the purpose behind this new measure aims at encouraging credit card payments and online transactions.
Even though the credit cards can be used for many online transactions in Morocco, only a relatively small number of businesses, namely super markets, malls and some hotels accept credit cards as a means of payment.
Moroccan ATMs usually dispense up to 5000 dirhams per day, depending on the type of the credit card, but with the new measures the amount will be reduced.
As far as the Moroccan “Banque Populaire” (PB) is concerned, the amount of money that one can withdraw from the bank’s ATM is now reduced to 2000 dirhams, 3000 dirhams and 5000 dirhams for the holders of La Prima card , La Populaire and La Gold respectively, the agent added.
Because of the critical financial situation of the Moroccan economy, many banks are reluctant to give loans to their customers.
The new measures may be regarded as a real indicator that the Moroccan banks are undergoing a financial emergency.