Morocco is set to enhance credit access for families reliant on remittances from abroad.
A new initiative announced on September 16, 2026, aims to improve credit access for 4,000 beneficiaries of remittances sent by Moroccan expatriates. This program will utilize the history of money receipts in credit evaluations, facilitating financial access for families in rural and peri-urban areas.
New Credit Initiative for Moroccan Families
The initiative was presented during a board meeting of the International Fund for Agricultural Development (IFAD) in Rome. It recognizes the significant role of remittances in Morocco’s economy, with approximately billion received in 2025, accounting for nearly 8% of the country’s GDP. The program targets families distanced from traditional banking systems, enabling them to access financial resources more easily.
Developed by Damane Cash and Salafin, the credit evaluation method will consider the history of remittance receipts. This approach aims to empower families who regularly receive funds from relatives abroad, ensuring they can better manage their financial needs.
Comprehensive Financial Services for Beneficiaries
This credit initiative is part of a broader program that includes establishing electronic accounts for 12,000 beneficiaries and distributing 4,000 payment cards. To promote active engagement, at least 70% of participants must complete their first transaction. Additionally, a life insurance product will be developed for families receiving remittances, covering 2,000 beneficiaries.
The project has a budget of €317,000, with funding from IFAD and Damane Cash. Salafin will finance the loans, while RMA will support the insurance product. The initiative emphasizes inclusivity, particularly for women and low-income households, with an aim for at least half of the beneficiaries to be women.
Next Steps for the Initiative
- Implementation of electronic accounts and payment cards for beneficiaries.
- Development of a life insurance product in collaboration with RMA.
- Launch of financial education campaigns targeting 10,000 individuals.
- Monitoring of beneficiary engagement to ensure active use of accounts.
This initiative marks a significant step towards improving financial access for Moroccan families reliant on remittances.
