Morocco underscored the growing economic importance of migrant remittances, with policymakers and development partners calling for stronger financial inclusion and greater use of the funds for investment and job creation.
Transfers from Moroccans abroad reached about 122 billion dirhams ($13 billion) in 2025, equivalent to roughly 8% of GDP in recent years, official data show, making the country one of the largest recipients in the Middle East and North Africa.
The figures were presented at a high-level event marking the International Day of Family Remittances (IDFR) in Rabat on June 10, organized by the International Fund for Agricultural Development (IFAD) alongside the central bank, agriculture ministry and international partners.
The meeting focused on ways to boost the impact of remittances on rural resilience, entrepreneurship and employment.
Participants said the flows remain a lifeline for millions of households, but warned of persistent challenges, particularly in rural areas where access to financial services remains limited and communities face recurrent drought and climate pressures.
Abderrahim Bouazza, Director General of the central bank, known as Bank Al-Maghrib, said remittances should increasingly be channeled into longer-term development.
“At a time when resilience, climate disruption and food security are increasingly intertwined, migrant transfers require deeper dialogue to turn them into a lever for economic and social development, particularly in rural areas,” he said.
Bouazza added that more needed to be done to direct funds towards productive investment and reduce transfer costs. While Morocco has expanded its financial ecosystem and digital payment infrastructure, he noted that a large share of remittances is still used for consumption and often transferred in cash.
“These transfers continue to face several challenges, notably their limited mobilization towards productive investment and persistently high costs in several corridors,” he said.
Officials pointed to recent reforms, including financial inclusion strategies, fintech development and investment incentives, aimed at improving access to banking services and encouraging diaspora investment.
Driss El Yazami, head of the Council of the Moroccan Community Abroad (CCME), said the significance of remittances goes beyond headline figures, emphasizing their social and human dimension.
“Behind the billions highlighted in official reports are hundreds of thousands of small transfers, often modest sums, but essential for families – sometimes entire communities,” he said.
“These amounts, beyond their financial value, reflect an attachment to family despite distance and a concrete expression of solidarity.”
Yazami added that remittances have historically contributed not only to household welfare but also to local development, funding infrastructure such as roads, schools and clinics in some regions.
International partners stressed the need to reduce transfer fees in line with the UN Sustainable Development Goals and to strengthen partnerships across banks, fintech firms and governments.
Morocco’s strong diaspora ties remain central to these efforts. France alone accounts for about 31% of inflows, according to organizers.
