The digital wallet allows the Bank's customers to make payments directly from their mobile phone when making a purchase without the need to present a credit card.

The bank would soon unveil payment systems that solely use mobile phones and eliminate the need to use cards for day-to-day purchases in shops

This is a continuation of the EIB's action carried out for several years in favor of microfinance in Morocco and is part of the bank's response aimed at supporting  micro-entrepreneurs, in the context of the COVID-19 crisis.

The program is designed to increase climate lending by participating banks in Egypt, Mexico, the Philippines, and South Africa to 30 percent of their portfolios by 2030.

Morocco’s Foreign Exchange Office has announced that remittances from the Moroccan diaspora continue despite the COVID-19 pandemic.

Up to 77 percent of consumers in the Kingdom spending more money online since the onset of the pandemic.

Egyptian fintech Zeal Rewards has raised a seed investment from an angel investor, it announced in a statement to MENAbytes this week.

Subordinated debt totaling $30 million to strengthen capital base and boost bank’s ability to provide local businesses with much-needed financing.

With an investment of $5 million, the SANAD ESF II contributed to the $36 million first close of the Badia Impact Fund Squared, which targets early-stage, innovative SMEs in need of equity funding to scale up operations.

The region’s financial institutions and merchants have needed to work swiftly to support unprecedented levels of digital payments.