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Breaking Down Barriers: Policy Insights for the Modern Digital Remittance Providers in Morocco

Breaking Down Barriers: Policy Insights for the Modern Digital Remittance Providers in Morocco

20 Oct 2023

Morocco falls in the category of low- to middle-income countries (LMICs), where you struggle to find employment opportunities due to the country’s poor economic performance. You cannot run businesses because, for a business to succeed, a country’s economy has to be faring better. So, what do you do? Well, the practical alternative and the way out is to travel to a foreign country, earn a living, and send money to Morocco to offer financial support to your family back home.

Whether you do a job or run a business, at the end of the day, you aim to support your family. Right? Therefore, foreign countries support you in fulfilling the objective, provided you have all it takes to get employed there.

A report by Morocco World News said that about 5 million Moroccans, accounting for 15% of the country’s total population, are working in foreign countries to earn a living.

The report went on to say that a majority of Moroccan migrants live in Europe.

In another report, Moroccan World News quoted Morocco’s Minister of Economic Inclusion, Small Business, Employment and Skills, Mr. Younes Sekkouri, as saying that around 27,000 more Moroccans have gone abroad during 2022 through legal channels in a bid to find jobs to earn a living and to send money to Morocco from Europe, for example, or from any other country for that matter.

Remittance Insights of Morocco 

Moroccan migrants are making a significant financial contribution to the country’s economy through the remittances they send back using the best way to send money to Morocco from overseas. A report by the World Bank said that the quantum of inward remittances to Morocco in 2022 was $11.17 billion. Given that remittances are a financial lifeline to the poor economies, this is a huge financial help to the Moroccan economy.

Finding a job abroad largely depends on a few factors, such as the economic conditions of the country you are going to, your qualifications, and your experience. Right? But do you know that sending money to Morocco from abroad is not as easy and simple as it sounds? There is a lot that the Moroccan government is doing to facilitate the flow of inward remittances.

Do you know what these steps are?

Because, after all, your core purpose of traveling abroad is to offer financial aid to your family back home by sending funds back through an instant money transfer to Morocco. Therefore, you must know all that the Moroccan government is doing to ensure a smooth transfer of Morocco-bound remittances.

This blog will shed light on all the important steps that the government is taking, but before that, a look at some of the reasons for going abroad from Morocco is essential.

What Prompts Moroccans to Travel to Foreign Countries?

Several factors cause Moroccans to leave the country, but the following few are the most common causes.

Acute Poverty

The incidence of poverty in Morocco is pretty high and acute. A large segment of the Moroccan population lives below the poverty line, making it difficult for them to put food on the table. So, they travel abroad to find jobs and work to earn a decent living, and escape poverty.

Poor Education Quality

ACE Money Transfer has always maintained that in poor countries, quality education is considered the key to success. Its lack breeds poverty and unemployment. Unfortunately, in Morocco, you will witness a lack of quality education. So people travel abroad to seek a good quality education to secure their future and career.

Lack of Savings

No matter how much you earn, you stand nowhere if you do not have savings for the rainy days should they come. On the other hand, what you earn in Morocco is barely sufficient to make ends meet, leaving no margin for you to save. So, working abroad comes naturally.

The Flailing Moroccan Economy

  • The World Bank said that the nominal GDP of Morocco in 2022 was $134.18 billion.
  • Another World Bank report said that the GDP per capita income of Morocco in 2022 was $3,527.9.

High Unemployment Rate

In Morocco, the rate of unemployment is high and leads to poverty and severe financial stress. Therefore, Moroccans travel to foreign countries to find employment opportunities to earn a living and send money online to Morocco for financial aid to their families back home.

Know here about the countries that pay the most to expatriate workers.

Now, let’s see how the Moroccan government is breaking down the barriers to facilitate the flow of remittances into the country that you send using digital means.

Facilitating the Flow of Inward Remittances into Morocco - Breaking Down Barriers

Listed below are a few steps that the Moroccan government has taken to break the barriers that stand in the way of a smooth flow of inward remittances.

Relax Taxation

One of the first challenges you face in sending money legally from overseas is the high taxes involved during different stages of the process. But through a lax taxation policy, this challenge is surmounted, smoothing the flow of inward remittances further.

Enhanced Supervision of the Illegal Means

With tight supervision of the use of Illegal means such as Hundi and Hawala to transfer remittances, the government is encouraging migrants to use legal means to transfer their funds from overseas.

Conducive Work and Business Environment

The Moroccan government is designing its policies in such a way as to encourage online money transfer companies to establish their presence across the country. This step has served the purpose to a large extent, with many globally acclaimed companies operating there.

Educating People Through Media

The government of Morocco is using media to educate people about the benefits of using digital means to transfer funds from abroad. Surprisingly, the number of people resorting to these digital means spiked as a result of these media campaigns.

Professional Liaison between Financial Institutions

Given that a majority of people are still using banks for transferring funds from abroad, the government of Morocco is facilitating the professional liaison between banks and digital money transfer companies so that people can benefit from their services while still using banks. 

Facilitating Technology Integration into Financial Operations

Certain technologies cost money and require support from the government on a large scale. Digital fund transfer technologies are no exception. Therefore, the Moroccan government is facilitating the use of such technologies and also helping financial institutions, including banks, integrate those into their operations.

Wrapping Up the Discussion

ACE Money Transfer had a prominent presence in Morocco even before the government took these steps. As a result of its seamless compliance with government regulations coupled with the firm’s unique features, your every money transfer to Morocco will offer you immense financial benefits in addition to speed, safety, wider service access and availability, live and competitive exchange for a low fee from just one stop.


What are the barriers to my online money transfers to Morocco?

The barriers to your money transfers to Morocco from overseas include high taxes, the slow speed of delivery of the funds, lack of the latest technology, little professional liaison between different financial institutions, and so on.

What steps is the Moroccan government taking to break those barriers?

The steps the Moroccan government is taking include lowering taxes, discouraging the use of illegal means, providing suitable work and business environments, using media to educate people, maximizing the use of technology, and ensuring different financial institutions establish professional liaisons with each other.

Why do I have to travel abroad for employment opportunities?

You have to travel abroad from Morocco to find better employment opportunities because these do not exist in Morocco. The country has a flailing economy, and most people suffer from acute poverty and unemployment.

How do digital money transfer services help me transfer funds?

The digital money transfer services help in your money transfers to Morocco from overseas with speed, safety, low fees, live and market-competitive exchange rates, 24/7 service access and availability, and through their global presence.

What service features should I look for while choosing a remittance service?

You should look for the security parameters and fee structure and ensure the firm does not charge you a hidden fee, service access, and availability, the time it takes to deliver funds and whether it charges you extra for speed or not, and the type of currency exchange rates, and so on.




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