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a sector in search of more dynamism

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The micro-credit sector has experienced continuous growth since its inception, favored by the interest and support, both institutional and financial, granted by public authorities and international cooperation organizations.

The total balance sheet of the 11 micro-credit associations stood at 9 billion (MM) dirhams in 2021 against 8.6 billion dirhams in 2020, an increase of 5%. As for the total gross outstanding credit, it stands at 8.2 billion dirhams in 2021 against 8.1 billion dirhams in 2020, an increase of 1.8%. This results in an average outstanding loan of around 10,000 dirhams in 2021, compared to 9,000 dirhams in 2020. More than 97% of loans are distributed by the 4 largest associations.

This development has been accompanied by a major change in the microcredit sector. It is in this context that micro-credit fits as a pillar of the National Financial Inclusion Strategy (SNIF), which calls for strong coordination of actions to give access to the majority of the population to financial services and products adapted to its needs, indicates Bank Al-Maghrib in its latest report on the National Strategy for Financial Inclusion.

During 2021, the efforts of the public authorities continued to strengthen the role of the microcredit sector in the development of financial inclusion, through the adoption in July 2021 of law n°50- 20 relating to microfinance, aimed at overhauling the legal and regulatory framework of this sector.

Following the adoption of the aforementioned Law No. 50-20, tax incentives in favor of the microfinance sector were discussed with the representatives of the said sector with a view to their adoption at the level of the 2022 Finance Law.

Inclusive insurance

The roadmap for the “Inclusive Insurance” lever, based largely on the study on inclusive insurance, lists a set of operational, regulatory and legislative projects with the aim of further promoting access to insurance services. insurance, by encouraging the development of a new offer that meets the needs of the target populations.

In anticipation of the launch of this new activity, ACAPS has prepared an instruction for payment institutions including the terms and conditions for granting approval.

It has also drawn up a guide for insurance and reinsurance companies, which aims to simplify and adapt the terms and conditions of microinsurance contracts. The latter includes a set of model contracts developed in consultation with the FMSAR.

In addition, the Authority has launched a call for tenders for the implementation of the “Annual Barometer of Inclusive Insurance” survey, the aim of which is to monitor, on the demand side, the level of access of target populations to microinsurance and to assess the impact of the various measures and initiatives taken.

As for agricultural insurance, the Ministry of Agriculture, Maritime Fisheries, Rural Development and Water and Forests has launched technical assistance aimed at restructuring fruit tree and field crop insurance products, particularly on technical and financial aspects, with the aim of ultimately achieving the objectives set out in the Generation Green 2020-2030 strategy, while optimizing the effectiveness of subsidies.

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