Main points of the partnership agreement signed between Crédit Agricole du Maroc and Al Barid Bank
Here are the main points of the partnership agreement between Crédit Agricole du Maroc and Al Barid Bank on the financial inclusion of rural populations, signed Monday at the Royal Palace of Rabat under the presidency of His Majesty King Mohammed VI. – The objectives of the agreement are:
* To develop a synergy between the parties for the financing of VSEs. * To develop joint actions for financial inclusion.
* Ensure digital inclusion to allow the reduction of geographic and time constraints. * Develop all forms of synergies so as to improve the mutual reception of the two parties and offer services with high added values to their respective customers.
– The agreement’s scope: * The partnership mainly concerns the rural and peri-rural areas and the parties may agree, by mutual agreement, to extend it to the urban perimeter.
– Commitment of the parties: * Work to cover the maximum of municipalities with less than 20,000 inhabitants not yet served.
* Work to cover, possibly with other banking establishments, municipalities whose population exceeds 20,000 inhabitants not yet served. * Set out the perimeter of the VSE that is the subject of the partnership.
* Establish an inventory of projects. * Consider, within the framework of financial inclusion, the solutions that each of the establishments may offer to its rural and urban customers, including businesses that do not meet the access conditions, encompassing a whole range of products making it accessible to new financial and non-financial services.
– The resources: * Mobilize local stakeholders and agencies involved in the partnership,
* Agree on possible opportunities for desks and / or other dedicated spaces, and agree on the terms of their deployment. * Deploy the necessary measures and actions in terms of digital transformation.
– Skills: * Work on the development of Very Small Enterprise rating platform, or “scoring”.
* Ensure a smooth and fast processing process for requests to account opening, credit, etc. – Process and risk:
* Establish operational processes and data exchanges between the parties to cover all stages of Fund granting and monitoring (instruction, unlocking, reimbursement, etc.).
* Agree on the risk modalities by the Parties, – Governance:
* Governance is ensured through a bipartite steering committee. – Monitoring bodies:
* The agreement will be subject to quarterly reporting to the relevant departments of the Ministry of the Economy, Finance and Administration Reform and to Bank Al-Maghrib.
Comments are closed.