Rabat – Queen Maxima of the Netherlands is currently on a four-day working visit to Morocco to promote fintech, the development of digital payment systems and inclusive green finance, among other key financial inclusion issues.
The queen, who also serves as the UN Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA), aims to “to extend support to further advance progress that Morocco has made in financial inclusion in recent years,” reported the UNSGSA.
Throughout her working visit, the Special Advocate will examine how Morocco’s fintech sector can progress, including support for technology that can help address risks, costs, and geographic barriers to financial services in Morocco.
Queen Maxima’s support is specifically intended to help traditionally underserved groups such as women and small merchants, obtain access to formal financial services.
Queen Maxima will also highlight the importance of inclusive green finance, particularly the role of financial services in building resilience and supporting adaptation to climate risks.
On the first day of the visit – which took place yesterday – the UNSGSA visited the Moroccan start-up Chari in Casablanca to learn how the company is facilitating digital transformation and financial inclusion for mom-and-pop shops.
#UNSGSA Queen Máxima visits with Moroccan start-up Chari today in Casablanca to learn firsthand how the company is facilitating digital transformation and #financialinclusion for mom-and-pop shops. #Morocco pic.twitter.com/rBuLAOXktM
— UN SG’s Special Advocate Queen Máxima (@UNSGSA) March 20, 2023
On the same day, the queen had several productive meetings with a fintech association as well as with Bank of Africa Chairman and CEO Othman Benjelloun.
#UNSGSA Queen Máxima concluded day one of her country visit to #Morocco to promote inclusive finance with a pair of productive meetings, including with a fintech association and with Bank of Africa Chairman and CEO Othman Benjelloun. pic.twitter.com/IkClXCETrp
— UN SG’s Special Advocate Queen Máxima (@UNSGSA) March 20, 2023
Today, the UNSGSA had a roundtable meeting in Casablanca with private sector leaders, to discuss business opportunities and ways to develop digital payments and fintech solutions. She also met AXA Assurance Morocco Managing Director Meryem Chami.
#UNSGSA Queen Máxima opens the 2nd day of her #Morocco visit in Casablanca meeting w/ AXA Assurance of Morocco Managing Director Meryem Chami, followed by a roundtable meeting w/ select private sector leaders. #digitalpayments #fintech pic.twitter.com/JItt4P2aIW
— UN SG’s Special Advocate Queen Máxima (@UNSGSA) March 21, 2023
Read Also: How Morocco Can Apply Innovative Methods to Advance Financial Inclusion
Tomorrow, the UNSGSA will be in both Casablanca and Rabat, to conduct a final client visit, as well as to meet with key leaders in the public and private sector to discuss opportunities to support and collaborate on inclusive finance in Morocco.
Her visit will include several bilateral meetings with “Head of Government Aziz Akhannouch, Secretary-General of the Government Mohamed El Hajoui, Economy and Finance Minister Nadia Fettah Alaoui, and Industry and Trade Minister Ryad Mezzour,” the UNSGSA detailed in a statement.
She will also meet “Delegate-Minister to the Head of Government in charge of Digital Transition and Administration Reform Ghita Mezzour, Bank Al-Maghrib Governor Abdellatif Jouahri, and Moroccan Capital Market Authority President Nezha Hayat,” noted the statement.
Queen Maxima’s visit comes amid Morocco’s ongoing efforts to promote financial inclusion and expand access to financial services for the benefit of different segments of the population, individuals, and businesses.
In 2019, the North African country adopted a National Financial Inclusion Strategy (NFIS). Today, 44% of Moroccana adults have bank accounts, up from 29% in 2017. The goal is to reach 50% by the end of 2023 and 75% by 2030.
According to the Royal House of the Netherlands, the working visit marks the queen’s first visit to Morocco in her UN role.
