Al Barid Bank
Al Barid Bank (lit. 'Postal Bank') is a government-owned bank based in Casablanca, Morocco. It is the country's postal savings system and was licensed as a bank in 2010.
Overview
[edit]Poste Maroc, the national post office, started offering financial services in 1926.[1] Al Barid Bank was formed on 8 June 2010,[2] following a three-year process of preparation, and received a full banking license later in 2010,[3]: 3 even though it only serves individual customers.[4] It remains fully owned by Poste Maroc.[5]
Al Barid Bank has been credited with enabling significant progress towards financial inclusion in Morocco, helping to raise the share of Moroccan adults with access to banking services from 34 percent to 62 percent just between 2010 and 2014. Al Barid is also dominant in the Moroccan market for remittance services.[5]
By 2020, Al Barid Bank had over 7 individual customers in Morocco,[2] and by November 2022 2.3 million used its mobile services.[6] Its financial performance has increased rapidly in the early 2020s.[7][8] It has a dense network in the country, with 1900 offices and 920 ATMs as of October 2020.[2]
Since early 2023, Mr Al-Amine Nejjar has been the chief executive (chairman of the management board) of Al Barid Bank.[9]
See also
[edit]References
[edit]- ^ "À propos d'Al Barid Bank". Al Barid Bank.
- ^ a b c "Al Barid Bank fête ses 10 ans". Infomédiaire. 20 October 2020.
- ^ Mayada El-Zoghbi & Meritxell Martinez (April 2012). "Can Postal Networks Advance Financial Inclusion in the Arab World?" (PDF). World Bank. Consultative Group to Assist the Poorest.
- ^ Gert Svaiko (20 November 2024). "Top 10 list of the best banks in Morocco". Wise.
- ^ a b "Morocco uses postal service to double the level of banking access". apolitical.co. 5 June 2017.
- ^ "Mot du Président du Directoire". Al Barid Bank.
- ^ "Al Barid Bank annonce des résultats financiers solides pour 2023". Les Éco.ma. 2 April 2024.
- ^ Majda Benthami (2 October 2024). "Al Barid Bank: forte progression des résultats au premier semestre 2024". Le360.
- ^ Jihane Rahhou (3 January 2023). "Morocco's Barid Bank Appoints Al-Amine Nejjar Chairman of Board of Directors". Morocco World News.
  | This bank and insurance-related article is a stub. You can help Wikipedia by expanding it. |