The Central Bank of Morocco (Bank Al-Maghrib) has just announced that it is working on a project to compare bank tariffs and value dates. A technical service provider who will provide the platform has already been selected. For the monetary authorities, this tool will serve to introduce more transparency between the customer and his bank. Bank Al-Maghrib’s initiative will shake up a certain immobility that Moroccan banks maintain on value dates despite modern technological means that no longer justify the status quo. Two institutions, CIH Bank and CFG Bank, had broken a sort of tacit understanding of the industry on value dates by establishing the instantaneous clearing (D-day) of transfers between them.
Trending
- Kenya loses $15.5 million after BAT shutdown operations in Sudan amid civil war
- Africa climate venture firm Equator closes $55 million fund
- Operational Excellence – Congo Terminal organises the 1st regional Kaizen, bringing together teams from 7 terminals
- East African Community (EAC) Faces Funding Crisis as Most Member Countries Struggle with Arrears
- Rising retirement contributions hit Kenyans February payslips
- CGF Bourse Honored in the Order of Recognition of the African Guarantee and Economic Cooperation Fund (FAGACE) and Elevated to the Rank of Commander by the Board of Governors
- Trafficked Kenyans in Myanmar rescued
- Moody’s Upgrades African Banking Sector Outlooks, Kenya and WAEMU Stabilize; Egypt and Nigeria Gain Momentum
A comparator of bank rates soon in Morocco
About us
Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, give meaning to statistics….
Contact us: redaction@financialafrik.com