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Rabat – Bank Al Maghrib (BAM), Morocco’s central bank, and the World Bank have announced the launch of the “Douar Tour” initiative as part of the Greenback-Morocco program.
This new concept aims to support rural populations in strengthening their financial decision-making capabilities, the two institutions said in a joint press release.
The “Douar Tour” initiative focuses on providing targeted messages to inform individuals about the various financial services available for money transfers, including their associated fees and tariffs.
According to the joint statement, the primary goal is to empower beneficiaries to make the most of the opportunities available to them.
As part of the Greenback-Morocco program, BAM and the World Bank are collaborating to develop innovative and inclusive approaches for promoting the use of digital means for fund transfers among different population segments in Morocco.
Read more: Morocco’s Central Bank ‘Ready’ for Next Phase of Flexible Exchange Regime
The “Douar Tour” concept will be tested through pilot operations in the weekly markets of Oued Zem and Lagfaf in the Khouribga province. These pilot projects will involve the deployment of mobile agencies to allow beneficiaries to put the acquired knowledge into practice.
Following the successful pilot phase, the “Douar Tour” initiative is planned to be rolled out across four additional regions in Morocco in 2024: Beni-Mellal Khenifra, Souss-Massa, Fès-Meknès, and l’Oriental.
This collaborative effort between BAM and the World Bank aims to foster financial inclusion and empower rural populations in Morocco by enhancing their understanding of available financial services and enabling them to make informed decisions regarding money transfers.
Read more :BAM Governor: Morocco Is Not Ready for New Phase of Exchange Rate Reform
