Al Barid Bank and Visa Partner to Promote Financial Inclusion in Morocco

Given the strong and historical positioning of Al Barid Bank on the theme of financial inclusion, and in the continuity of Visa’s initiatives in terms of the digital transformation of VSEs while stimulating sustainable economic growth, Al Barid Bank and Visa s ‘associate for the implementation of measures intended to support the target populations presenting a need for training and support to integrate the financial and banking ecosystem.

Al-Amine Nejjar, Chairman of the Management Board of Al Barid Bank, underlined the importance of this agreement by stating: « In line with its civic mission and with its proven experience in the field of financial inclusion, Al Barid Bank is pleased to partner with Visa in order to contribute to local economic development for the benefit of target populations, through training , support and awareness of good banking and financial practices for the development and/or sustainability of their projects.

For her part, Leila Serhan, Senior Vice President of the North Africa, Levant and Pakistan (NALP) region for Visa, expressed her enthusiasm saying, “ We are delighted to collaborate with Al Barid Bank to help improve the skills of small businesses, especially artisans, by providing them with innovative digital tools to grow. The primary goal of Visa, the global leader in digital payments, is to help everyone, everywhere, by being the best way to pay and get paid. To achieve this, Visa is committed to supporting Morocco’s efforts to accelerate financial inclusion across all segments.” “.

Training will thus be organized throughout the year for the benefit of the target populations, in particular craftsmen, traditional VSEs, particularly women, young entrepreneurs and the self-employed. In this wake, Visa and Al Barid Bank have already joined forces as part of the last edition of Global Money Week through the organization of three training sessions in Casablanca, Fez and Safi for the benefit of a population of craftsmen around of the theme of financial inclusion.

The development of the Moroccan version of Visa’s online platform, “Practical Business Skills (PBS)”, is one of the levers that will be put in place within the framework of this partnership. It will provide via the institutional site of Al Barid Bank, free educational resources on financial inclusion through digital.

This partnership also aims to support traditional Moroccan companies in the digitalization of their financial flows through the implementation of intuitive, simple and innovative solutions.

In order to achieve the different objectives of this memorandum of understanding, a joint action plan between the two parties will be implemented to promote financial inclusion in Morocco.