By Loubna Flah
By Loubna Flah
Morocco World News
Casablanca, June 26, 2013
Bank al Maghrib announced that it has injected MAD 62 billion last week. This step subscribes to a set of measures undertaken in order to ease the liquidity strain that has crippled the banking sector in Morocco for the past months, according to the Moroccan daily, Al Massae.
The interest rate reached 3.03%, and is expected to remain stable compared to last week’s fluctuations. The volume of exchange, on the other hand, reached MAD 2.4 billion. During the offer session, Bank al Maghrib has offered MAD 44 billion with an interest rate estimated at 3%.
Nevertheless, the liquidity strain lingers despite Bank al Maghrib’s efforts to reinvigorate the financial market with recurrent asset injections. The shortage of liquidity is likely to undermine the commercial banks’ ability to deliver their services appropriately and more importantly the attribution of loans.
