The Interbank Monetary Center (CMI) reported a significant increase in monetary activity in Morocco in the first semester of 2019 compared to that of 2018.
Rabat – The Moroccan monetary activity saw 198.3 million transactions for a total amount of MAD 164.2 billion during the first half of 2019, says the Interbank Monetary Center (CMI).
The activity is up 10.4% in the number of operations and 9.9% in monetary sums compared to the same period in 2018, notes the CMI in its report.
CMI underlined that the credit cards issued by Moroccan banks reached nearly 15.8 million cards. In the first semester of 2019, Moroccan cards recorded 188.7 million transactions in payments and withdrawals for a total of MAD 151.1 billion.
The CMI also noted that during this semester, Moroccan cards with international validity achieved 4.3 million overseas operations for a total of MAD 2.6 billion. This shows an increase of 87,3% in the number of operations and 42.4% in money amounts compared to the same period in 2018.
For their part, foreign cards recorded, in payments and withdrawals, 9.6 million transactions for an amount of MAD 13.1 billion. The number of transactions increased by 16.4%, says the CMI report.
In the first half of 2019, Internet payment activity showed a strong increase with 42.8% in volume and 13% in the number of online payments. This progress was a result of major public utilities, airlines, and eGov services offering online payment methods.