Morocco makes notable progress in financial inclusion, UN reports

Morocco has achieved significant progress in expanding digital financing and promoting access to financial services, according to a new United Nations Economic and Social Commission for Western Asia (ESCWA) report.

The Kingdom, alongside Jordan and Egypt, stands out for implementing innovative regulatory reforms despite challenging regional conditions, as noted in the “Annual Review of Sustainable Development Goals 2025.”

However, financial exclusion persists throughout the Arab region, with approximately 60% of adults remaining outside the formal financial system, potentially jeopardizing the achievement of Sustainable Development Goals by 2030.

Women represent one of the most marginalized groups, with only 29% having access to banking services. Persons with disabilities face similar challenges, with barely 21% accessing financial services due to discriminatory practices and inadequate infrastructure.

The report highlights a troubling rural-urban disparity and notes that while mobile payments have doubled between 2020 and 2023, a “digital divide within the divide” persists due to limited internet access and insufficient digital skills.

ESCWA calls for urgent reforms, including strengthened consumer protection, promotion of financial education, and modernization of digital infrastructure.

Mario Gallis, ESCWA Economic Affairs Officer, emphasized that financial services “are no longer a luxury in the Arab region,” asserting that without genuine financial inclusion, eliminating poverty and achieving equitable growth would be impossible.