News Middle East11 Apr 2021

Morocco:National financial inclusion council promotes microinsurance

11 Apr 2021

The National Council for Financial Inclusion has called for the development of new distribution channels for universal insurance, especially microinsurance.

The Council also urged insurance companies to propose microinsurance offerings for the benefit of small and micro enterprises especially those operating in the sectors of trade and handicraft, in cooperation with the relevant ministries.

At a recent meeting, the Council stressed the need to adapt the National Financial Inclusion Strategy to the structural reforms of the national social protection system launched recently by the government.

During a recent meeting, Mr Mohamed Benchaaboun, Minister of Economy, Finance and Administration Reform, who is also chairman of the National Council for Financial Inclusion, and Mr Abdellatif Joauhri, chairman of the central bank Bank Al-Maghrib and of the Strategic Committee of the Council, stressed the priority given to financial inclusion in view of its direct and tangible effects in improving the economic and social conditions of targeted groups, especially youth, women, village residents, and very small enterprises.

The Council addressed many recommendations, especially accelerating reform of legislative and regulatory framework related to the various axes of the financial inclusion strategy.


 

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