Rabat – Bank Al-Maghrib launched a policy design process dedicated to the economic empowerment of rural women, as well as the “City-Tour” concept to improve access to financial services.
On Tuesday, March 8, Morocco’s Central Bank and the World Bank announced the launch of the City-Tour concept, within the framework of the Greenback Initiative Morocco, which consists of organizing guided tours to financial services agencies.
According to a press release of Bank Al-Maghrib and World Bank, the City-Tour aims to promote an innovative approach for customers under the supervision of trainers and delegates from partner associations.
City-Tour mainly targets women, youth, and micro-entrepreneurs from urban, peri-urban, and per-rural areas, the release added.
This concept will enable participants to understand different options available for sending and receiving funds and their characteristics. Customers can learn about the different pricing components of these options, as well as gain confidence to choose the best-suited options for their needs.
City-Tour is organized with the support of the Moroccan Foundation of Financial Education (FMEF).
This Greenback Initiative Morocco successfully toured last year in Casablanca and Settat. The participants, especially women, reported that the initiative enabled them to choose financial services that suit their needs and helped them feel more autonomous in financial agencies.
After conducting several City-Tours this year in Sale, Casablanca, Tangier, and Marrakech, Greenback Initiative Morocco is preparing to expand the City-Tour experience to several other locations.
In addition, the policy design process that Bank Al-Maghrib launched is a part of its initiatives to promote financial inclusion.
The launch of this process comes following an in-depth analysis of the socio-economic situation of rural women in Morocco carried out by Bank Al-Maghrib, with the support of the Alliance for Financial Inclusion (AFI), and the international institute Fletcher School.
“The objective of the project is to build a national policy centered around the needs and aspirations of women in rural areas,” Said Bank Al-Maghrib in a press release.
With the support of the AFI and the European Bank for Reconstruction and Development (EBRD), Bank Al-Maghrib organized on March 8, 2022, in Rabat a workshop bringing together public and private agents of the ecosystem of financial inclusion.
The workshop contributed to taking stock of the financial and economic inclusion of rural women by identifying challenges to be met and policies needing to be put in place. It also helped in determining the potential pillars for economic empowerment of rural women and setting the approach to conducting the next stages of the project, added the press release.
These projects that Bank Al-Maghrib has launched come in light of Morocco’s ambitions to empower women in Morocco and across Africa.
