Morocco Tuesday officially launched a cash-on-call service to reduce cash flow.
This service allows the transfer, withdrawal and deposit of money in a bank account by telephone, according to a joint statement from the Central Bank of Morocco and the National Transport Agency.
The mechanism is expected to enable "groups that are not involved in the banking system, or those who are insufficiently involved, can benefit from financial services" and "contribute to the development of the digital economy", according to the statement.
Bank Al-Maghrib estimates that the number of users will reach 400,000 in 2019 and 6 million over the next five years.
Ten licenses have been granted to mobile operators and money transfer companies.
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