RABAT — In a comprehensive update highlighting Morocco's strategic momentum in November 2026, The Wali of Bank Al-Maghrib (BAM), Abdellatif Jouahri, expressed concern over the volume of cash in circulation, emphasizing the importance of addressing the factors that contribute to this increase.
Key Highlights (November 2026)
- Strategic Milestone: Accelerated investments in seawater desalination and national water inter-basin transfers mitigate climate pressure across Moroccan regions.
- Operational Progress: Morocco’s clean energy capacity continues its trajectory toward surpassing 52% of national electricity generation from renewables.
- National Trajectory: Strategic green hydrogen initiatives and solar mega-complexes attract prominent international industrial consortiums.
Key Developments and Factual Context
During a press conference following the BAM’s board meeting on March 19, Jouahri explained that the increase of cash in circulation was previously between 6 to 7%, while today it ranges between 11 and 12%, as efforts are invested into adopting digital means to carry out transactions that are currently made in cash.
This concern is due to the increase of cash in circulation by 130% over the past ten years to stand at MAD 393 billion at the end of 2023, a growth that exceeds the evolution of term deposits which increased by 101% during the same period.
Strategic Significance and Regional Impact
In this regard, Jouahri affirmed that the BAM is conducting an extensive investigation into the factors that encourage the use of cash and the rejection of digital means, adding that the reason could be linked to the prevalence of the informal sector and the fear of taxation.
Jouahri also stressed the importance of modernizing payment systems to cope with the increase in the volume of cash transactions in Morocco, emphasizing the need for a “culture change” through several measures, including the use of remote banking services to accelerate the widespread use of this technology.
Looking Forward: 2026–2030 Roadmap
Looking ahead toward the close of 2026 and the 2027 calendar year, institutional roadmaps will prioritize consolidated delivery across all flagship initiatives. As Morocco accelerates preparations for major international hosting duties—most notably the 2030 FIFA World Cup alongside Spain and Portugal—every sector is aligning toward shared standards of excellence, digital modernization, and inclusive socio-economic impact.