Crédit Agricole du Maroc is offering extra support to Moroccans living abroad as thousands return home during the summer. The bank has teams working across different provinces and prefectures to welcome Moroccans living abroad and explain the financial services available to them.
“On the occasion of the celebration of National Day of Moroccans Residing Abroad, Crédit Agricole du Maroc is present alongside local actors across the various provinces and prefectures of the Kingdom.
Our teams, mobilized to receive our Moroccans of the World, presented our financing and support solutions dedicated to MREs, in order to support them in realizing their projects and help durably strengthen the link that connects them to their home country.”
MRE stands for Marocains Résidant à l’Étranger, or Moroccans living abroad. More than 5 million Moroccans are estimated to live outside the country.
Crédit Agricole du Maroc is a major bank with a strong focus on agriculture and rural areas. It provides services to individuals, companies and agricultural businesses.
The bank has 129bn dirhams in outstanding loans and 128bn dirhams in customer deposits.
Its net banking income reached 3.95bn dirhams through the third quarter. Consolidated net profit stood at 274m dirhams.
The bank also operates several businesses linked to agriculture and rural finance.
Tamwil El Fellah provides financing for small and medium-sized farms. Fondation ARDI offers microcredit to rural entrepreneurs. Al Akhdar Bank is the group’s participative banking arm.
CAM also offers digital banking services. These include Bank-E Online for mobile banking, HSSAB-E for opening accounts online, Imtiyazat-E for agricultural management and CAM PAY for contactless payments.
Services for MREs
CAM has several products aimed at Moroccans living abroad.
One of them is Sakan Qaraoui Spécial MRE, a mortgage product for people who want to buy or build homes in rural and semi-urban areas.
The bank also offers financing for MREs who want to invest in agriculture, renewable energy and eco-tourism.
Digital services allow customers abroad to open accounts, manage transfers and follow their investments remotely. HSSAB-E and Bank-E are available to customers living in Europe, North America and the Gulf.
CAM also sets up special reception counters and mobile advisory teams during the summer, when many MREs return home.
The teams help customers with banking services, tax rules, currency exchange and investment programmes available in different regions.
National Day of Moroccans Residing Abroad is held every 10 August. King Mohammed VI established the day in 2003.
The day gives public institutions and businesses an opportunity to engage with the Moroccan diaspora and highlight ways for MREs to send money, buy property and invest in local projects.
