A sweeping overhaul is underway in Morocco’s financial landscape, signaling a major step forward in how creditworthiness is assessed across the country. A new law focused on Credit Information Bureaus has officially come into force, setting the stage for a smarter, more inclusive lending system. The goal is clear: expand access to financing, especially for individuals and small businesses that have long been left out of traditional banking channels.
This legislative push is a key pillar of Morocco’s National Financial Inclusion Strategy, a joint initiative from the Ministry of Economy and Finance and the country’s central bank, Bank Al-Maghrib. Behind it lies a broader ambition—to reshape the credit market into one that’s not only more transparent and data-driven, but also more responsive to the real-world needs of borrowers.
At the heart of this reform is a dramatic broadening of what qualifies as usable credit information. Until now, Credit Information Bureaus mostly relied on reports from banks and other financial institutions. The new framework changes that entirely. Telecom providers, utility companies, private businesses, and even public service contractors are now authorized to share payment data—if it can help determine a person’s or company’s ability to repay a loan.
That shift toward alternative data is a game changer. It opens new doors for first-time borrowers—young adults, gig workers, and micro-entrepreneurs—who may not have a credit history but still manage their finances responsibly. Consistent payment of a phone bill or electricity account, for example, could now become part of someone’s financial profile and boost their chances of securing credit.
The reform also comes with a tighter regulatory grip. From now on, all Credit Information Bureaus must be licensed by Bank Al-Maghrib, which will oversee how data is collected, processed, and shared. These rules are designed to ensure privacy and accuracy while making it easier for lenders and data providers to exchange reliable information under formal agreements.
The goal is to build a smarter risk management system that benefits everyone involved. By narrowing the information gap between lenders and borrowers, credit decisions can be made faster and more fairly. Over time, this increased transparency could even reduce the need for heavy collateral or high risk premiums.
This initiative is just one piece of a much larger transformation of Morocco’s financial ecosystem. A wave of new players is already reshaping the market—digital payment platforms, crowdfunding sites, and fintech startups are expanding the range of services available and feeding new data into the system. On the horizon is open banking, a model being explored by Bank Al-Maghrib that would allow consumers to securely share their banking data with authorized financial providers. If implemented, it could supercharge data interoperability and pave the way for more personalized financial tools.
Ultimately, the new law is about far more than just technical upgrades. It reflects a deeper shift in vision—toward a financial system that’s more open, more equitable, and better aligned with the country’s evolving economic and social realities. This reform, driven by close cooperation between government, regulators, and private sector partners, sends a strong message to both markets and citizens: the future of credit in Morocco will be smarter, faster—and more human.
