Al Barid Bank is a major player in financial inclusion in Morocco. Its main mission is to provide banking services to citizens with low or irregular incomes, particularly in peri-urban and rural areas, in line with its vocation of serving all Moroccans and acting as a citizens’ bank.
Convinced that
digitisation and
financial education are the
key components for ensuring sustainable and efficient financial inclusion, Al Barid Bank has made them a priority since its inception in 2010.
With regard to digitisation, the bank announced
the launch of a mobile banking solution called “Barid Bank Mobile” in 2014. Thanks to this product, which targets Moroccans with or without a bank account, the bank has attracted more than 200,000 new clients in two years. In June 2017, the “Barid Bank Mobile Light” was launched with a cap of DH 200, allowing low-income bank customers to access top-level products.
In 2015, Al Barid Bank introduced a
new offer called “Tawfir Al Ghad”, which is
dedicated to young people between the ages of 18 and 25. This product allows youngsters to open an account with Caisse d'épargne nationale (National Savings Bank) and to benefit from advantageous conditions. Together with this offer, the bank is promoting financial inclusion by advertising “Tawfir Al Ghad” on the radio and on the Internet with the objective of raising young people’s awareness of the importance of formal savings. A year and a half after its launch, the offer has attracted 100,000 customers and therefore rejuvenated the bank’s clientele.
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