Moroccan Cheques: The Number of Payment Incidents on the Rise

The number of payment incidents on checks increased by 2.2% to 470,515 incidents in 2019, representing an amount of MAD 13.8 billion (MMDH), according to Bank Al-Maghrib (BAM).

Regularization operations were made on 111,375 checks for an amount of MMDH 1.7 million against respectively MMDH 113,756 and MMDH 1.8 million in 2018, BAM said in its annual report on the economic, monetary and financial situation for the fiscal year 2019. It noted that the number of people banned from issuing checks increased by 3% to 689,045, with 87.2% of them being individuals.

As regards unpaid bills of exchange, their number remained almost stable at 666,812 for an amount of 25.1 MMDH. The stock of LCN unpaid bills of exchange not yet regularized stood at 2.5 million cases, for an amount of 93.2 MMDH, with a proportion of 62.7% of individuals.

As far as credit bureaus are concerned, the number of active contracts signed stood at 5.1 million, up by 5.4% for an outstanding amount of 856.1 million MMDH, the report adds. It also notes that the number of consultations reached more than 2.5 million, thus reaching a total of 16.1 million consultations since the establishment of the 1st Credit Bureau in 2009.

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